Transformed financial management for an E-Commerce and Wholesale Business

An e-commerce and wholesale business approached Benchmrk facing several financial management challenges. They were overwhelmed with processing a high volume of invoices, managing payments to various suppliers, and keeping track of inventory costs. Additionally, they lacked a financial forecast, making it difficult to plan for the future. With a growing team comprised largely of casual employees, the business needed a structured solution to streamline their financial operations.

Benchmrk implemented a comprehensive program to address these issues:

1. Financial Clean-Up: We started by cleaning up the existing financial records to ensure accuracy and consistency.
2. Bookkeeping and Accounting: Our team took over the bookkeeping and accounting tasks, ensuring timely and accurate processing of financial transactions.
3. Financial Forecasting: We created a detailed financial forecast to help the founders plan for profitable growth.

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The structured approach led to significant improvements in the business’s financial management:

• Improved Profitability: The business saw a marked improvement in profitability through better financial oversight and management.
• Enhanced Supplier Relationships: Timely and accurate payments improved relationships with suppliers, facilitating smoother operations.
• Access to Trade Financing: With clear and accurate financial records, the business was able to secure trade financing, supporting further growth.
• Cost Reductions: There     was a notable reduction in both accounting costs and overall team costs, thanks to streamlined processes and improved efficiency.
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Client Testimonial: "Brett and his team really took the time to understand our business and helped us run the business better financially."

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