Our Business Showcase

Welcome to FinDep Consult Financial consulting!

At FinDep Consult, we take pride in delivering exceptional Accounting and Finance consulting services tailored to meet your needs during critical business moments. With a commitment to quality, innovation, and customer satisfaction, we are dedicated to helping companies navigate challenges and achieve their goals.

Who We Are

FinDep Consult is a trusted partner for businesses experiencing rapid change, post-acquisition phases, or requiring interim financial competencies. Based in Italy, we specialize in supporting foreign companies entering the Italian market. Our solid experience in various financial areas, combined with high adaptability skills, ensures we deliver results that matter.

Our Services

Accounting and Finance Support During Rapid Change

• Expertise in managing financial transitions during periods of growth or restructuring.
• Strategies and solutions to maintain stability and drive success.

Post-Acquisition Financial Integration

• Seamless financial integration and alignment for newly acquired businesses.
• Customized services to address unique challenges and opportunities.

Interim Financial Competencies

• Providing skilled financial professionals to fill temporary roles.
• Ensuring continuity and excellence in financial management.

Market Entry Services for Foreign Companies

• Comprehensive support for businesses entering the Italian market.
• Assistance with compliance, financial setup, and market-specific challenges.

Success Stories

Transforming Financial Management for Rapidly Growing Engineering Firm

A Middle East-based engineering company providing the services and spare parts to the Automotive sector experienced rapid growth in sales, transitioning from a one-man operation with modest sales to a multi-directional business with a significantly increased turnover and a presence in several geographic regions. However, this rapid growth brought challenges: the company lacked cost controls, had no financial transparency, and left shareholders disoriented about the business's financial position and results.

The company hired FinDep Consult to create a robust management accounting function and implement profitability control systems. The task was urgent and we commited to deliver the first Financial report in three months after taking an assignment.

What We Did and the Respective Timing:

• Thorough Analysis and Financial Model Development (1.5 months): We thoroughly analyzed the business, its existing systems, and statutory reporting (involving two legal entities in different jurisdictions). Based on this, we developed a comprehensive financial model.
• Reconstruction of Financial Data (2023 FY): There was no accounting for costs, as the company enjoyed a tax regime based on turnover rather than profits. Using trial-and-error methods, we calculated costs empirically and reconstructed the Profit and Loss statement for the entire 2023 fiscal year (the assignment began in September 2023).
• Adjustments and Control Deficiencies: As projected results required verification, we adjusted the model using actual data over a couple of months. During this process, we identified several control deficiencies, including missing purchasing documents, lack of sales plan control, poor forecasting skills etc. We engaged in monthly discussions with the owner and management to address these concerns and build trust.
• Delivery of 2023 Financial Report and 2024 Budget (January 2024): By January 2024, the shareholder received the full 2023 financial report and a budget for 2024 for the first time.
• Budget Control Implementation (2024): We focused on budget control throughout FY2024. Sales responsibilities were assigned to the appropriate department and consistently followed up.
• Cost Accounting and Profitability Targeting (End of 2024): We developed system requirements for cost accounting, enabling allocation of costs by department and establishing individual profit targets. By the end of 2024, clear profit targets based on accurate accounting data (not empirical approximations) were assigned to each department for follow-up in the next fiscal year.
• Permanent Finance Manager Recruitment: To ensure continuity, a permanent finance manager was hired to oversee daily operations and a thorough handover and training were provided.
• Tax Compliance: We identified the lack of competencies of the external advisor who provided the statutory reporting and tax compliance services. The business owner was unable to identify this issue and relied on them, assuming that all external providers were professionals. However, the outcome of their work was not satisfactory, as the reports they provided contained material errors. The correctness of the reports was crucial due to the implementation of complex tax legislation in the country, where the tax base for corporate tax was calculated based on statutory reporting (IFRS). We conducted a local market review and analysis, identifying a professional firm that demonstrated their competencies. This firm had to recover all the accounts for FY2022 and 2023 to ensure the correct comparative data. Now, the client has a reliable partner for statutory accounts and tax compliance.

The Outcome

The outcome is exceptional: from a small company that was unfamiliar with financial reporting, it transformed into a well-managed and controlled enterprise. With its "eyes open," the company implemented world-class controls and achieved its objectives due to the tools and processes implemented by FinDep Consult.

Testimonials

"We didn't even know how much we were earning or where we stood financially. FinDep Consult stepped in, built a world-class financial model, and delivered actionable insights that reshaped our business operations." – [Administration manager, Middle East Company]

"Thanks to FinDep Consult, we went from chaos to control. Their expertise in implementing Financial Modelling and budget management gave us the confidence to plan for the future with precision." – [Shareholder, Middle East Engineering Firm]

Why Choose FinDep Consult Financial consulting?

• Financial Expertise: With extensive experience in Accounting and Finance consulting, we offer unparalleled insights and solutions on demand.
• Customer-Centric Approach: We prioritize understanding your needs and delivering tailored services.
• Adaptability: Our ability to thrive in dynamic environments ensures successful outcomes.
• Proven Success: Trusted by companies worldwide, we have a track record of helping businesses succeed in critical moments.
• Cost for Value: Our services ensure maximum value for your investment, delivering cost-effective solutions without compromising quality.

Visit our website www.findepconsult.com