Accounting & Finance function of a health & wellness company
Client / Industry Brief
In 2019, the company expanded operations by setting up two new centres. However, delay in construction and execution has seen these centres plagued with low footfall
The client owns and operates a group of gyms in Qatar with nearly 10,000 members.
The chairman wanted a finance team that would submit prompt reports as well as take proactive measures to protect and manage cashflow
The client owns and operates a group of gyms in Qatar with nearly 10,000 members.
The chairman wanted a finance team that would submit prompt reports as well as take proactive measures to protect and manage cashflow
Project Objectives
Recommend a new financial software that suits the needs of all stakeholders
Recommended accounting controls that streamline policies and processes
Submission of regular reports to the management which illustrated daily/monthly sales, footfall and cash collections
Identify breakeven cash collections and sales required such that the company covers its operating expenses as well as meet its liability to creditors and banks
Review HR policies related to salaries and employee compensation to ensure compensation is in line with regulatory requirements
Restructure the finance department in order to optimize employee cost as well as make employees more efficient
Recommended accounting controls that streamline policies and processes
Submission of regular reports to the management which illustrated daily/monthly sales, footfall and cash collections
Identify breakeven cash collections and sales required such that the company covers its operating expenses as well as meet its liability to creditors and banks
Review HR policies related to salaries and employee compensation to ensure compensation is in line with regulatory requirements
Restructure the finance department in order to optimize employee cost as well as make employees more efficient
Project Methodology
Project Benefits
Regular reporting of key metrics which were presented bi-monthly to the chairman and upper management
