How the immediate incorporation of an Interim Head of Accounting allowed the stabilization and internalization of financial operations in Portugal, France and India in just 6 months.
Client and Sector: Our client, a leading global company in the ICT and digital communications sector, with a strong growth strategy through acquisitions and a presence in six key markets, needed to immediately strengthen its financial structure. With its operations center in Lisbon, Portugal, the organization manages business in critical regions such as France, Portugal and India.
The Situation / Need (The Pain): In a context of high operational demands and following a phase of international asset integration, the organization faced a critical challenge: the urgent need for a Head of Accounting with a senior perspective. The objective was to lead a team of ten people (after 6 months the team consisted of only 3 internal staff members, the rest were external accountants; the team grew later) and ensure the continuity of daily operations in a multinational environment, guaranteeing compliance with international regulations (IFRS) and local, all while the company was making progress in integrating outsourced accounting into its own system ERP.
The Approach and the Solution EPUNTO (The Methodology):
EPUNTO, thanks to its global alliance with Valtus, activated in record time a high-level Interim Manager specializing in complex financial environments. During 6 monthsThe manager assumed full responsibility for the accounting department on a full-time basis.
Under the supervision and mentoring of Juan Manuel Gil de Escobar Delgado, Partner of EPUNTO, the project focused on:
- Leadership and team management: Supervision and development of the accounting team in Lisbon to ensure excellence in the accounts payable cycle, general ledger and fixed assets.
- Excellence in Reporting: Standardization of monthly closings and consolidation under regulations IFRS, ensuring transparency for global management.
- Compliance assurance: Coordination of annual external audits and preparation of accurate tax information for local advisors.
- Digital Transformation: Active participation and technical support in the migration and integration of external accounting systems into the ERP of the company.
Partner responsible for the project
Some questions and answers
What was the main challenge in this project?
The challenge was to assume immediate control of accounting for three distinct geographical regions (Portugal, France, and India) from the Lisbon hub. An executive with multicultural management skills and a deep technical understanding of IFRS standards was needed to maintain the group's growth trajectory.
Why was an Interim Manager chosen instead of a traditional consulting firm?
Speed was the deciding factor. In a sector as dynamic as ICT, a vacancy in the accounting management position during the months-long traditional selection process would have created critical bottlenecks. The client needed a "ready-to-operate" profile that could deliver results from the first week.
What was the most significant impact in the first 90 days?
In the first quarter, our Interim Manager managed to stabilize the flow of financial reporting, ensure the reconciliation of international intercompany items and lead the critical phase of the implementation of the new ERP, avoiding deviations in the schedule of the technology project.
How did EPUNTO ensure knowledge transfer at the end of the mission?
Following our methodology, the Interim Manager meticulously documented the new accounting processes and spearheaded training for the internal team on the new ERP functionalities. This ensured that, after the five-month assignment, the financial structure was more robust, efficient, and self-sufficient.
What differentiating factor did EPUNTO contribute to this solution?
The ability to provide a global response with local execution. Thanks to our integration into the Valtus Alliance, we were able to offer a senior profile fluent in English, with experience in multinational environments and specific knowledge of the Portuguese market, all under the strategic supervision of our EPUNTO Partner.