Wheeled Goods Startup
Problem:
- An Irish manufacturing and design business experiencing growing pains putting the business into a fire-fighting mode.
- Crisis halted the implementation of appropriate systems, defining procedures, and instituting processes to sustain growth.
- Due to lack of resources and focus multiple key projects were unfinished including shareholder and transfer price agreements, and installation of an ERP system.
Solution:
A Chartered Accountants Ireland Interim Managers member was engaged with effectively zero notice, to complete the installation of an ERP system and setup the back office on a 3-month contract. The contract was extended to cover all back-office functions, Finance, IT, HR, IP/Legal, Operations, board support etc. until the business had grown sufficiently to fully resource each of these functions.
Action:
- ERP system installed with further, VAT tracking, accounting, bank accounts, and a payment processing system were set-up.
- An additional third party supplier was sourced and appointed in China reducing dependency on single supplier.
- A number of orders of intent formalised into contracts.
Result:
Solving these business challenges allowed market, channel, and regional expansion. Revenues grew from €5m to €45m in 3 years.
Staff numbers increased to nearly 100 in 9 different countries.
The Chartered Accountants Ireland Interim Managers expert transitioned to a Corporate Services role covering specialist functions payroll setups, insurance, acquisition projects and rollouts in Asia until these were complete.
