Building the financial department for a Hungarian seed-stage startup Comtura

Challenge

‍Comtura has had trouble connecting operations and finances and showcasing its capabilities to investors. Their inability to develop an efficient finance department that could serve as the go-to division and the hub for prompt and sensible decision-making was hampered by a lack of internal expertise.

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Objective

The objective was to effectively manage the company's financial operations as an interim CFO, set all processes and tasks in order, restructure the division, and locate a suitable CFO capable of taking over an efficient department.

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Solution

After gaining additional knowledge of the sector, procedures, and financial operations, we have compiled a list of enhancements that were required not only to abide by regulations but also for efficient internal team establishing management and investor reporting, and effective decision-making.

Following the creation of a strategy, comprehensive statements that demonstrate appropriate liquidity conditions, a rolling budget, and an FP&A framework that depends on appropriately integrated data were constructed. Then, we determined which KPIs were required to produce informative results, outlined a number of ways to reduce costs, and put in place a new invoicing system. We have established an SLA, developed appropriate benchmarks to facilitate a proper transfer pricing strategy, and identified a CFO who can take over and enhance the essential activities to comply with national legislation.