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Lantum Finance Function Review

Objectives:

Review invoicing and credit control processes, with a particular focus on time to invoice, automated escalation of invoice chasing, and GoCardless reconciliation management

Make recommendations on more suitable systems and processes

Create proof of concept solutions and, where possible, implement new processes and hand over to Lantum team

Time allocation for project: 4.5 days

Where 8 hours = 1 working day

Relevant KPIs

Relevant KPIs

Name

Current Value

Target Value

Notes

Time from job done to invoice

Open

Time from invoice to cash received

Open

There are no rows in this table

⁠

Deliverables

Deliverables

Name

Description

Notes

Finance health check report

Covering key processes and pain points, as well as some suggested solutions

Open

There are no rows in this table

⁠

Our plan

Our plan

Stage

Task

Detail

Required from you

Proposed allocation

Notes

Problem Review

Initial Investigation & Set up

Get access to key systems / spreadsheets and familiarise

Review AR ledger including aging and largest customers / biggest offenders

Ask clarifying questions

Ad hoc access to Veronika to ask questions as we go

4 hrs

Open

Process review

Go through invoicing, credit control and GoCardless reconciliation processes with Veronika

4 hours with Veronika to discuss processess

4 hrs

Open

Process write up

Create process flow charts and process notes, or update existing documentation if it already exists

Ad hoc access to Veronika to ask clarifying questions

4 hrs

Open

Process deep dive & solution investigation

Investigate options to

Reduce time to invoice

Automate invoice chasing escalation

Improve GoCardless reconciliation process

Including:

Discussing with Melissa/Dylan about how e.g. invoice can be done differently while still keeping customers happy & complying with contracts

Investigating chaser

Ad hoc access to Verokina and Melissa/Dylan to ask clarifying questions

10 hrs

Open

Assess easy wins

Based on possible options assess and propose easy wins to build proof of concepts for

30 mins with Melissa and/or Dylan, and Veronika to make sure we’re all aligned on how to proceed

2 hrs

Open

Solution Proposal

Create proof of concept solutions

For easy wins, and where time permits, we will set up e.g. Chaser, Zapier automations, and automated spreadsheets demonstrating what we think is possible

Ad hoc time with Veronika to discuss and review solutions

8 hrs

Open

Assist product team with scoping new features (Optional)

Where easy wins aren’t possible, discuss complexity of implementation in the product

Time from either product or Melissa, depending on who best to discuss with

2 hrs

Open

Debrief & Provide recommendations

Discuss recommendations, and next steps for implementation with Lantum team

1 hour with Melissa/Dylan and Veronika

2 hrs

Open

⁠

NB:

We contract for a number of days booked rather than for fixed outputs. We think this model gives more flexibility and a better integration with your team. We’re confident we’ll be able to deliver the above within the recommended scope, however, it does mean that we’re not able to guarantee fixed outputs - just an agreement on priorities and where we’ll spend our time. Our team work for you on a secondment basis for the days contracted.

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