Case Story: Resurgence of a dotcom
Even new economy companies need traditional management and financial controls.
The Peter Charles team was brought in by the Chief Financial Officer (CFO) of a pan-European internet business to help it cope with the stresses and strains of its remarkable growth. The company provided seed capital, management support and advice to fledgling Internet companies. Although nothing had gone wrong, after our initial look-see, it was clear to the CFO that he needed help to install strong financial controls.
The CFO was having difficulty providing and running all the financial controls with relatively few people and although nothing had gone wrong by the time the Peter Charles team was called in, after their initial look-see, it was clear to the CFO that he needed help to install strong financial controls, procedures and disciplines, as well as create a culture of traditional company behaviour.
Using the Peter Charles team's management accounting and IT expertise and their network of contacts, in a few months, the company was provided with the necessary leading-edge IT-based systems to ensure management accounting information was produced on a regular basis and in a timely fashion. Peter said: "The trick was to provide a robust set of systems that would not only work for the company as it is today but as it will be in the future." The CFO said: "We are experiencing an unbelievable rate of growth and without Peter Charles it would simply not have been possible."
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