Our Finance Director helped this not-for-profit monitor is expenditures, with a full spending review and plan of future focused around cost saving technologies.
Company Profile
A leading not-for-profit education company providing specialised education programmes to disadvantaged young people.
CEO’s Mission
This business required a spending review and wished to reduce capital expenditure in order to justify spending to their board alongside making spending more predictable across related operations. The company didn’t wish to employ a full-time CTO. Therefore, the Director was required to implement a new spending programme and evaluate the company’s growth.
What Our Director Did
Goal For Spending Review
The Finance Director sat down with the team to understand and validate the initial goals set for this project. The goal was to find opportunities to consolidate databases and increase efficiency to reduce costs. The Director discussed tactics and goals with stakeholders throughout the project, ensuring the company’s core values remained intact and the project’s original goals would be met. The role also involved considering alternative tactics. Then, the company created a custom ‘scorecard’ to track goals, which included industry benchmarks for the selected products and services.
Project Mapping
By looking at all systems across HR, employee engagement and billing, the Director was able to create a full dependency map to evaluate the company’s outgoings and output. Therefore, a hands-on approach meant the Director could fully understand the way each team worked and create a thorough presentation for stakeholders. This included achievable goals, manageable timescales and a full project plan.
New Technology
The Director identified several new systems as logical and beneficial for the company’s next steps. Consequently, the company shifted communication frameworks to Slack and Trello for more cohesive and effective communication. They also transitioned the existing CRM system to Hubspot, deeming it the most efficient option for the business.