A well oiled machine for Talenco
Talenco designs, builds and maintains industrial plants. As a multidisciplinary project organization, they are active in engineering, construction and maintenance.
Talenco was founded in 2015 and has grown to become a fixture in the industry with a team of nearly 200 employees. Talenco consists of four companies (Talenco, TTS, Lanark and Merco) and is based in Antwerp.
In about six years Talenco grew into an organization of more than 180 employees with a turnover of more than 20 million euros. In the coming years, the company plans to grow even further in number of employees and turnover.
Yet every company that is growing at this astonishing rate has to deal with growing pains from time to time. For Talenco, the finance team in particular was short of a few hands in the short term. And that's when a partner like Unikoo can very quickly and flexibly partake into daily operations.
The Finance team in particular appeared to be understaffed, and a few hands short. The Finance manager tried to get everything done by performing extra hours, but it was clear that a short-term solution was needed.
Finance & administration
Unikoo's finance team rolls up its sleeves for Talenco
In the first phase of our collaboration, our Finance & Reporting consultant went to work on:
- Updating invoicing and supporting accounting processing.
- Debtor and creditor management.
- Support in the implementation of the financial component of Microsoft Dynamics 365, which, among other things, allows all data (invoice number, account number, amount, etc.) of an invoice to be automatically read and booked.
- Support with the closing of the fiscal year of the 4 Talenco companies (TTS, Talenco, Lanark and Mercor).
Our efforts gave Talenco's finance team more breathing room and, in addition, substantial time savings were achieved through the automation of invoicing.
Once these optimizations were completed, our finance professional provided training to a new internal employee so that they could take over everything without any problems.
Proper closing of the fiscal year of the 4 Talenco companies
In the second phase, our Finance consultant was brought on board again, this time for the closing of the fiscal year of Talenco's 4 companies (TTS, Talenco, Lanark and Mercor), with as part of the tasks:
- Reconciliation of general ledger accounts
- Wage reconciliation based on payroll certificates and booking documents from SD Worx
- Transfer of short term and long term loans
- VAT turnover reconciliation
A strategic sounding board in the form of a Financial Business Partner
Meanwhile, one of our experienced finance experts is filling the role of Finance Manager for Talenco's 4 entities where she is responsible for the following:
- Support in further shaping the finance department and coaching the internal finance team.
- Developing a new position of Business Controller and managing a new employee
- Managing the supplier contracts
- The further automation of financial processes
- Smooth information sharing between different departments at Talenco
- Optimising the accounting closing procedure
- Preparing budgets and reports in Power BI
- Advising the management team, as the COO's right hand.
Do you also need flexible support in the area of finance or administration? Contact us at firstname.lastname@example.org and we will see how we can help you!