Financial Solutions in Practice

In the list below a description is given on a number of assignments that Detaco has executed as part of our financial solutions services.

Financial solutions

• Financial Analyst in the Treasury Control department, responsible for controlling of financial derivatives, the related accounting in SAPr3 and VAT declarations.
• Business controller reporting to the holding company in combination with a transition to a new version of SAP software.
• Assistant controller in charge of creating the financial statements of various foreign entities, and monitoring of ledger entries performed by the shared service center in India.
• Executing the international accounts payable tasks in the shared service center, training and coaching of new employees and implementing the procedures around cash and credit card recovery declarations for Europe.
• Performing the administration related to international royalties and preparing the financial statements from the general ledger, including performing the checks and reconciliations of the ledger accounts.
• Administrative executive for the general ledger and accounts payable for some business entities, managing the related employees, and describing and implementing the correlated procedures.
• Integration of the financial administration of the German (Krefeld) businesses that were bought by the respective company, and decreasing the backlog in the financial administration.
• Consolidating the European daughter companies as part of the integration of all the businesses that were taken over within Europe, including the launch of a Management Information System, and the transition of the consolidation respnsibility from Germany to Eindhoven, The Netherlands.
• Setting up VAT reporting for the Western Europe divisions of the client and solving disputes with various Customs authorities.
• Senior accountant for the business unit in Amstelveen in charge of the transition of functional tasks to the shared service center in Eindhoven.
• Replacing the manager of the administration department while the client was searching for a permanent candidate for this role: providing advice on the purchase of a Management Information System, determining the revenue and gross margin, and optimizing the processes within the shared service center after the transition to new accounting software.
• Replacing the financial controller, optimizing the partnership structure of the company, and preparing the implementation of an ERP system.
• Interim execution of the role of assistant controller and composing the financial statements.
• Business control for the research department and participating in the project group around the implementation of SAP.
• Acting as back up for the manager of the accounts payable department (7 FTEs) and participating in the project of implementing scanning software.
• Acting as a coordinator in the financial shared service center for three enterprises and seven FTEs as interim occupation for the responsibilities of recruitment, optimization of the functional processes within the shared service center and solving post audit issues.
• Preparing the transition of the financial administration into SAP after a merger.
• Coordinating accounts payable of both mother and daughter organizations, improving the functional procedures and creating the monthly statements.
• Assisting in the year end close, creating files for the balance statements and Hyperion consolidation/reporting to the holding company.
• Replacing the manager of the administration deparment while on maternity leave, and contributing to the improvement of the Plannig & Contol cycle with respect to SAP, managerial statements and liquidity planning.
• Executing the billing procedures of a production company in SAPr3, processing accounts payable and receivable, clearing the balance statements, resolving disputes in order to improve Days Sales Outstanding rate, and decreasing working capital.