Transparent liquidity management
preparation and implementation of medium-term cash flow and cash flow forecast verification standards.
What was achieved?
General financial development plan
development of a financial plan for the coming years and an annual budget to support investment and operational decisions.
Standardised financial processes
implementing the standards of month-end closing, financial reporting and settling projects.
Stronger role of finance in the organisation
the finance department has become a partner to the management board and other departments, providing regular analyses, reports and cost-effectiveness recommendations.
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Project challenges
Dynamic growth, investments and foreign expansion meant that Topsil Global needed a structured and modern approach to finance. This applied to liquidity management and financial planning, as well as to the day-to-day work of the finance and accounting department and reporting results to the management board. It was crucial to strengthen the role of finance as a partner for the business while maintaining the character and values of a family business.
Growing scale and complexity of finance
the necessity to combine everyday financial operations with medium- and long-term planning.
Lack of uniform reporting standards
the need to introduce consistent rules for month-end closing, budgeting and forecasting.
Organisation of the work of the finance and accounting department
the necessity to improve cooperation between the ten-person team and the external accounting office, and to clearly divide tasks.
Targets set
Strengthening financial liquidity management
preparation and implementation of medium-term cash flow and active monitoring of cash flows.
Building a financial framework for development
developing an outline of a financial plan for the coming years, consistent with the investment and expansion strategy.
Standardisation of reporting and controlling
introduction of transparent rules for reporting, budgeting and closing financial periods.
Professionalisation of the finance and accounting department
improved organisation of teamwork, processes, cooperation with the accounting office and settlement of R&D projects.
Solutions implemented
Standard of cash flow reporting
preparation of medium-term CF and the process of cyclical updating of liquidity forecasts.
Financial plan and budget
preparation of a framework financial plan for several years and an annual budget linked to business goals and investments.
Management reporting system
implementation of financial reporting and reporting of common goals and departmental goals.
Organising the work of the finance and accounting department
introducing month-end closing standards, refining debt collection rules
Client
Topsil Global is a family business and a leader in the Polish silicone processing market, with products reaching customers in over forty countries around the world. The organisation operates two production plants and employs over two hundred people, combining the culture of a family business with the ambition for further international growth.
The Interim CFO who we got involved in cooperation with Redegate successfully helped us professionalise finance management in our developing organisation.
Wojciech Mąka
Board Member, Topsil Global
Expert’s role and experience
Fractional CFO
The expert took responsibility for finance at Topsil Global, leading key processes related to liquidity, planning, budgeting, as well as reporting. They worked with the management board to define financial goals, coordinated the work of the finance and accounting department, and initiated changes in processes and tools so that finance could support the organisation’s development better.
Many years of experience in financial management positions, including in manufacturing companies operating on international markets.
Practical experience in building and improving controlling, management reporting and liquidity management processes in a dynamic growth environment.
Experience in working with family businesses, combining the owner’s perspective with modern standards of financial management and working with finance and accounting teams.
