Challenges during first TriFinance project

Finance consultant Yasmina joined the finance team of LifeStyles as a junior bookkeeper. Due to some changes in the finance team, the company was looking for temporary support. Yasmina supported the daily activities and monthly closings and was also involved in the worldwide implementation of a new ERP system.

Client

LifeStyles Healthcare is a global leader in the well-being sector. The Belgian entity (SxWell BVBA at Brussels) is a cost-plus entity that performs and invoices a number of functions at both EMEA level and at group level. SxWell BVBA works with approximately 25 people, with a large group in Finance and Communication. 

Why TriFinance?

It was the first experience for LifeStyles and TriFinance to work together. While looking for an external consultancy company through different channels, the managers at LifeStyles selected TriFinance. The combination of services, coaching and trainings (regular support), price-quality ratio and direct contacts with the Business Manager were the factors that determined their choice.  

The challenge

LifeStyles (Brussels) was looking for a proactive person to join the finance team in Belgium. Their challenge was to find someone with keen learning skills and adaptability, someone who could work independently as the team had to focus on the go-live: the implementation of a new ERP system. In the meantime, the daily activities and monthly closing had to continue properly. 

The challenges and priorities for Lifestyles changed during the project. Three months after Yasmina’s start, her focus was to work fully on EMEA (4 entities: PL, UK, FR, BE). Yasmina’s responsibilities were the following:
- Accounts Payable and Accounts Receivable 
- Booking of manual sales invoices
- Bank statements and Bank reconciliation
- Preparation and processing of payments
- Reconciliation of transit accounts

A bit later, two new employees completed the finance team. Yasmina’s task was then to give a full handover of the daily tasks. The implementation of the new ERP was also a challenge. However, the whole team - Yasmina included - experienced it as a user-friendly system. Besides, she could already manage most of the required tasks.Yasmina:“As my first work experience, managing different entities was a major challenge. I had never worked with the ERP system and I could not find any relevant manuals online. Fortunately, there were a few colleagues at TriFinance who already knew it. I could count on them for additional information about the system. Another challenge was to get such a responsibility and to train new colleagues on the systems and daily activities.”

The result

“What the customer valued most is the way of working independently. I learned this with my mentor Clara whom I often called and met at the beginning of the project", Yasmina explains.

"Most needs from LifeStyles were executed with a positive result. The business for all entities was still running as usual. New employees completed the finance team and they received a thorough handover. The new ERP system went live in April 2019. A bit later than planned, but everyone was satisfied once all reportings were in the system.” 

Learnings

“During this first work experience, I certainly deepened my knowledge in financial processes and running business of a company. As I had to train new colleagues, I also improved my soft skills by communicating, sharing and working in a team. 

My TriFinance mentor Clara was important for me, since she prepared me on making manuals and planning my tasks. Thanks to Clara, I became more self-confident, which gave me a huge boost in my way of working.
I really appreciated working at Lifestyles: they involved me in all financial activities which made me feel like I was an internal employee.”

Note: At TriFinance, each consultant has a mentor who supports him during his project. In this context Yasmina got to know her mentor Clara. You can read their mentoring story here

Publicatiedatum: 28 november 2019
Yasmina: “During this first work experience, I deepened my knowledge in financial processes and running business of a company."