Papergraphics is a group of companies with offices in England, Scotland, The Netherlands, Belgium, Spain and Italy. The group is a b2b business serving the large format digital print industry through the sales and service of printers, cutting tables, laminators, ink and media. Being an international group of companies, they require consolidation accounting and translation of currencies to GBP at consolidation.
How iFinance Department Support Papergraphics
iFinance Department provides Virtual CFO services for all companies in the group, as well as managing the internal finance department spread over multiple countries.
We provide day-to-day management of the group’s finance department including a management accountant, and several accounts payable, credit control and payroll staff.
We manage the cash flow, currency planning and contracts, reviewing and approving the accounts, financial reporting, financial and cash forecasting, and involvement in management meetings.
We manage all the external financial stakeholders:
- We manage the annual audit and changed auditors to save the company over £45k per year in the UK and Netherlands.
- We changed the invoice finance provider and was able to save the company £90k per year in finance costs.
- We changed banks in order to arrange a new mortgage to provide an additional £1 million working capital for the business while reducing the interest rate.