Financial Transformation at a Top Restaurant Group: A Journey from Manual to Modern

Key Initiatives & Solutions

Month-End Closing Optimization

My first major initiative targeted the month-end closing cycle. By implementing cloud accounting solutions and restructuring our financial planning and analysis (FP&A) processes, we achieved what many thought impossible: reducing the closing cycle from three months to just two weeks post month-end. This dramatic improvement didn't just save time - it completely transformed the organization's ability to make data-driven decisions with current financial information.

Payment System Automation

The next challenge was tackling the massive weekly creditor payment system. Using my background in VBA, I was aware that custom macros could be created to interface with web portals. As such, I stumbled across MacroRecorder, a no-code platform allowing for the replication of human inputs (The UIPath of its time) to automate the bank reconciliation process and create ACH's from a static spreadsheet of payment terms. The impact was immediate and substantial: we optimized workflow by over 16 man-hours per month while handling weekly creditor payments exceeding $4.5 million USD. This automation not only reduced errors but freed up skilled finance team members to focus on strategic analysis rather than manual processing.

Invoice Verification

To streamline invoice verification, we implemented Dext, an automated invoice scanning tool that significantly reduced manual data entry and reconciliation errors. By creating a Standard Operating Procedure (SOP), we established a clear workflow: restaurant staff were required to immediately acknowledge receipt of invoices and upload them to Dext in real time. This eliminated delays caused by misplaced or late submissions, ensuring that all expenses were accounted for promptly. The system extracted key invoice details, which were then reviewed in a single validation check by the finance team before being uploaded into Xero, our cloud-based accounting platform. This process reduced invoice processing time by over 40%, freeing up valuable hours that were previously spent on manual entry and reconciliation.

By integrating Dext with Xero, we achieved real-time financial visibility, allowing management to monitor expenses across multiple restaurant locations without waiting for end-of-month reconciliations. The structured SOP ensured consistency across teams, minimizing errors and preventing duplicate payments. With all invoices verified and categorized before entry into Xero, financial reports became more accurate and timely, allowing for better cash flow management and strategic decision-making. This automation not only improved operational efficiency but also strengthened financial controls, making audits and vendor negotiations significantly more seamless.

Portfolio Management

Working with a portfolio that spanned from fast casual to luxury establishments brought unique reconciliation challenges. I took charge of verifying daily transactions, merchant dealings, and bank reconciliations for a third of the group's diverse portfolio (14 entities). This role required developing scalable processes that could accommodate both high-volume casual operations and complex luxury venue transactions.

Project Costings

Working closely with the group systems, design teams, and vendors, I structured milestone-based payment schedules to align with project budgets and cash flow forecasts. By mapping out key deliverables with the design team and validating costs with vendors, we ensured that payments were tied to project progress rather than arbitrary deadlines. This approach minimized financial strain, allowing for better liquidity management while ensuring that suppliers and contractors were paid on time. Additionally, by integrating this framework into Xero’s reporting functions, we gained real-time visibility into outstanding liabilities and upcoming expenses, helping finance and leadership teams make informed decisions.

With this structured approach, I was able to execute complex payment plans for senior management's review without fail. By maintaining clear approval workflows and ensuring that all invoices were validated against contract terms before processing, we were able to curate a discipline in budgeted disbursements strengthened relations with vendors, realizing my vision of the finance team as a strategic team, not only a support function.