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Pactio Finance function review


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Objectives:
Evaluate the existing finance function, with a specific focus on purchasing, budgets and the financial forecast, and roadmap for improvements to the financial processes & controls
Make recommendations on more suitable systems and processes where appropriate
Make recommendations for changes to processes required before, and after, due diligence & fundraising
Note: the financial review described will be “lighter touch”, excluding the areas identified as a priority, in order to accommodate a full review. As we progress we will try to highlight areas in which we could spend more time, and confirm priorities with you before proceeding.

Time allocation for project: 5 days
Where 8 hours = 1 working day
Our plan
Stage
Task
Detail
Proposed allocation (days)
Notes
Discovery
5
RORA prep structure / question list for all sections below
Prepare detailed question list for the below sections, to maximise efficiency of meetings
Review current process documentation (where available)
0.5
Open
Financial Processes and Systems review
Prep questions + high-level review of the following processes, with specific attention to how processes might need to change now & after Series B:
Revenue
Invoicing
Cash collection
Payment process & Expenses
Month end reporting
Budgets & Allocation
Audit readiness
1
Open
Model & Forecasting
Prep questions + review the following:
Current model - logic & structure
Review P&L + Cash flow
Stress test for changes & amends
Variance analysis to current Management Accounts
1
Open
Big picture review
Dive in to more detail with SLT and other relevant team members to discuss:
current processes
bottlenecks
key objectives
policy & process requirements
0.5
Open
Process Mapping & Review
Mapping out of structure & processes
Delving into access & information blockages
Key outcomes for processes & team efficiency
0.5
Open
3.5
Sum
Recommendations
3
Identify alternative best in class systems & processes where needed
Identify alternative systems where required
Identify alternative/improved processes
Split of roles & responsibilities
And any changes that might be necessary before/after Series B
Evaluate system integrations with existing stack
0.5
Open
Report on recommendations
High level process maps
Urgent changes required, if applicable
Recommended improvements
Pre-Series B
Post-Series B
0.5
Open
Review recommendations
Discuss on call with team
Discuss next steps
0.5
Open
1.5
Sum
5
Sum
⁠
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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, we do not 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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