Speaker: Matthew Sledge, CFO: John Kinghorn
What would you like to say to your CFO?
Matthew Sledge: I'm Matt from HP Stores in South Africa. I wanted to thank John for just being amazing. A massive thank you, especially in this last year, this Covid year where we've struggled and we've really needed help and support. And he's just been unbelievable. We're in a place now where I didn't think we might have been a year ago. But John, thank you! You've been unbelievable.
What issues were you facing before we started working with you?
Matthew Sledge: So we've had three big issues. When John started working with us, the first was we were just about to to change our ERP systems and that we knew was going to come with difficulties. We had massive process issues, operationally and finance very little documented and John started immediately helping us with those. And also we had cash flow projection I woud say issues, but we didn't have a cash flow document and we weren't even projecting a month. So those three big things. Cash flow, processes and ERP. John got onto those straight away.
What have been the benefits to your business specifically?
Matthew Sledge: Well the specific benefits - we turned the business around in the last 18 months. We've gone from massive loss in the previous year to actually some profit in the last year, so that's really specific. But other things - we've tightened up our processes and controls. We've got documented processes in the business that that have really tightened things up. And also we've now got a cash flow, documented cash flow prediction that is for three months where we had nothing before. So some real tidying around controls and real help in turning the business around.
What have the benefits been to you personally?
Matthew Sledge: So two big personal benefits. Peace of mind, knowing that our finances and our controls and the integrity of the business - we're in good hands. And time! This last year, I've been having to negotiate and spend a lot of time negotiating with with landlords over leases. And John - knowing John, that's, uh, and the team have been handling the finances has just been just been amazing and saved me lots of time and peace of mind. So those two big ones.
What is the number that really matters to you?
Matthew Sledge: The number that really matters, ...and I know we're not supposed to talk about profit specifically, but the number is 10 million. and that's the swing in our profit for the last two years. Eight million loss to two million profits positive last year. There's another number and that's one million. and that is the expenses saved per month over the last year through the covid year. So I've actually given you two numbers. 10 million and 1 million. Thank you.
