Up to date and one step ahead – Quick help from Interim CFO
Life can also surprise in financial management. When Tammer Brands, an international wholesaler of household goods, urgently needed a deputy chief financial officer, Gallant took over and exceeded expectations.
When a company with more than 50 brands, 20,000 products and a 48,000-square-foot logistics center needs quick help with its financial management, there is no room for procrastination. After the first meeting, Gallant’s mission was clear: finalizing Tammer Brands’ accounting and preparing the financial statements. Our Interim CFO took immediate action.
The accounting material was transferred from Tammer Brands’ systems to Gallant, where the counting was made. The first work phase was a background study, in which the previous year’s materials were combined and their correctness and possible supplementary needs were checked. After the previous year’s accounts were completed, it was time to prepare the financial statements. Tammer Brands’ financial management team was well organized and the company’s financial information was carefully archived, which facilitated the work of our interim financial manager. Active communication with Tammer Brands’ financial management team was also important for success, especially in the first weeks. Overall, the process took about 1.5 months and was done remotely, with the exception of the kick-off meeting.
– Practically Gallant’s interim CFO had to start from scratch with a large entity, but managed to take over the situation quickly, says Ilari Kosonen, Tammer Brands’ CFO.
Illustrative financial information
In addition to up to date accounting and financial statements, what matters is how they were prepared. With thorough implementation, the figures determined by careful implementation were not only recorded but also documented. As a result, the financial statements as a whole are easier to understand and the future CFO will get off to a good start.
– Gallant’s interim CFO did an excellent job and enabled process development. In addition, Gallant helped us find a high-level expert for the job. Based on this experience, I will be happy to continue working with them, Ilari says.