Bookkeeping for a large company - comprehensive accounting services

We have a team of more than 300 experts in accounting, human resources and payroll, which allows us to efficiently take over and handle even the most complex financial structures; we have extensive experience in preparing consolidated financial statements in accordance with International Financial Reporting Standards (IFRS) and reporting for stock exchange and other institutions; our offices in Warsaw and Katowice guarantee flexibility and availability of services throughout the country.

Adequate to the needs of large companies - for more than a decade, we have invested in technological development, implementing solutions such as Electronic Document Circulation, E-Archive and order management platforms; this provides our clients with, among other things, fast and secure access to online financial data; we use business process robotization (RPA) to automate routine accounting tasks, which increases efficiency, reduces errors and allows our clients to focus on the strategic aspects of their business (learn more).

We offer support in optimizing and integrating a client's financial systems, resulting in better control of processes, faster access to data and more efficient financial management; we have experience working with a variety of financial and accounting systems, including SAP, Oracle, Microsoft Dynamics and others - so we can adapt to a client's existing IT infrastructure or propose optimal system solutions.

Client: Polish industrial manufacturing company with several plants in the country. It was growing dynamically, but its internal accounting department could not keep up with the growing number of documents and complexity of transactions. There were delays in month-end closings and errors in financial reports, which worried management.

The challenge: Take over the company's full accounting service in a short period of time, clean up the backlog and introduce more efficient processes to ease the burden on the client and improve the quality of financial information.

Solution Aider Polska (MDDP Outsourcing): We started with a detailed audit of the client's accounting processes, identifying bottlenecks and risk areas. Then our team, in cooperation with the company's existing employees, gradually took over the bookkeeping. We implemented our Continuous Accounting model, so that the first quick month-end closing took place within just 5 days of the end of the period, instead of the previous 2-3 weeks. We cleaned up our accounting policies, standardized the chart of accounts and procedures across all sites, enabling easier consolidation of data. In addition, we implemented electronic workflow - all cost invoices began to arrive digitally and be accepted online, which cut their posting time in half. Thanks to automatic system checks, we eliminated previously recurring mistakes (such as duplicate invoices).

Result: The client has gained reliable and timely financial reporting - management receives a package of reports by the 5th business day of each month. Accounting backlog was caught up in the first quarter of cooperation, and current accounting works without delays. The cost of financial and accounting services paradoxically dropped by about 20%, as the company was able to reduce some of the costs of its own department. Aider Polska (MDDP Outsourcing) provided the needed resources more efficiently. Executives also appreciated peace of mind - they gained a sense that financial matters were being handled by an external partner with the right experience and the ability to scale services as needs grew. This allowed the company to focus on improving its own production processes and investments, confident that its finances were under proper control.

Client: A large retail chain (retail) with dozens of stationary stores and a growing e-commerce channel. Monthly, it processed tens of thousands of sales transactions and related documents (receipts, invoices, returns, cash register reports). The in-house accounting department found it difficult to process such a mass of data quickly, resulting in delayed information on sales and margins. In addition, the company wanted to better control inventory levels and inventory losses from a financial perspective.

Challenge: Accelerate and automate the flow of financial data from hundreds of points of sale to accounting. Provide management with real-time visibility into key metrics (sales, margin, operating expenses) and relieve the accounting department of manual work.

Aider Polska (MDDP Outsourcing) solution and support result: We proposed full outsourcing of accounting services along with integration of client's systems with our tools. In practice, we implemented automatic exports of sales data from the POS system and e-commerce platform directly into our financial system every day. We implemented automatic posting of daily sales reports - our system itself generated the relevant accounting documents based on the data from the stores. As a result, every sale from any store was posted on the same day, and management could view sales and margin statements for the previous day in the morning. In addition, we launched a reporting module that presented comparisons of sales with the plan, profitability of individual stores and inventories in value terms - this information was available online for authorized managers. In the accounting area, we introduced posting robots (RPA) for repetitive operations, such as accounting for card transactions, thus eliminating tedious data entry.

Client: A technology (IT) group, consisting of one parent company and four subsidiaries (including two foreign companies). Each entity had its own accounting department and used a different financial system, which made it difficult to consolidate results and report jointly to investors. The group was planning to go public, which required preparing financial data in accordance with IFRS and obtaining a unified reporting system.

Challenge: Unify and centralize the group's financial and accounting processes, ensure efficient consolidation of financial statements according to international standards, and improve group-wide financial controlling ahead of the planned IPO.

Solution Aider Poland (MDDP Outsourcing): In cooperation with the technology group, our team took over the bookkeeping of some of the subsidiaries and took responsibility for the financial consolidation process of the entire group. We started by standardizing accounting policies and valuation rules across all companies - our experts advised on how to bring these policies in line with IFRS requirements. We then implemented a consolidation tool that integrated data from the subsidiaries' various accounting systems into a unified environment. Every month, after the individual units closed their books (some of which were posted by us, some by the local accounting departments - which were supervised by our chief accountant), the financial data were imported and consolidated automatically according to the elimination of intra-group transactions, currency translation, etc. We also prepared a set of management reports at the group level - including consolidated balance sheet and income statement on a monthly basis, revenue analysis by business segment, EBITDA reports, group cash flow. All of this was available to group management through a secure online portal. In addition, in cooperation with tax advisors from our partner company MDDP, we supported the client in transfer pricing and unification of documentation between entities, which is often sensitive for capital groups.

Theresult: The group has obtained a clear financial picture of the entire structure - consolidation, which used to take weeks after the end of a quarter, now takes place within days of the close of the accounting period. Consolidated reports are available on a monthly basis, rather than only at year-end, which has greatly improved management and communication with investors. Standardization of the accounting approach has made comparing the performance of individual companies simpler and more meaningful. Thanks to the support of our experts, the client successfully passed the demanding stage of preparation for the IPO - finances were cleaned up and met the standards required of a public company. The management also appreciated that it was relieved from the tedious consolidation process - the time saved could be spent on data analysis and strategy planning, instead of laborious data collection.