
Transforming A Fast Growing Online Consumer Goods Business Through Virtual CFO Partnership
Client Overview
The client is a prominent player in the online consumer goods industry with presence across 5 APAC geographies. It specialises in health and beauty supplements, beauty products and other consumer products sold online through their own website and other channels including online marketplaces.


Primary Goals and Objectives
Visibility Enhancement
Streamlining financial presentations for informed decision-making for the top management and the board.
Operational Efficiency
Addressing finance and commercial issues in operations to boost performance of the business.
Financial Outsourcing
Closely work as the outsourced finance and accounting partner in Singapore and other countries to increase cashflows, revenue, and profits through better cost management and performance reporting.
Strategic Advisor to the CEO and the shareholders
Evaluating the business health of all companies within the group with the objective to improve revenue, profits and cash flows.
Key Achievements
Milestone Completion
Successfully accomplished all key milestones initially set by the CEO and the board showcasing a high level of expertise, commitment and efficiency resulting in savings of $100K + in first 3 months
Enhanced Visibility
Implemented improved reporting methods, providing clear financial insights and enabling better decision-making for the management. This resulted in management receiving relevant details within 10 days after the month end for decision making and growth.
Optimised Cash flow
Worked closely with the management, sales team, operations team to collect long outstanding Accounts Receivable to improve cash flow management. Resulted in resolving long outstanding debts of more than $ 250K
Grant assistance
Closely partnered with the team to assist on EDG grant for new product development of $ 100K+.
Dividend Declaration
Facilitated the long-pending dividend declaration by offering precise visibility into cash holdings, ensuring timely payouts. This provided better return to shareholders.
Tax Issue Resolution
Addressed and clarified all tax-related challenges, providing clarity in the financial workings of the company. Worked closely with the team to implement Transfer pricing requirements and separately contest a claim of $2M on tax credits from IRAS.

Client Challenges
Market Saturation
Facing a saturated market, client was struggling to introduce new products and manage fixed costs efficiently.
Product and Market Challenges
Aging products, market competition, and resistance to price hikes posed significant challenges.
Growwth's Role
Growwth Partners acted as strategic advisors, dedicating significant man hours to achieve the set milestones.
Major contributions included:
Process Optimisation: Streamlined financial processes, enhancing visibility and operational efficiency.
Strategic Insights: Provided crucial insights for product diversification, distribution optimization, and financial stability.
Key Takeaways
The sustainable growth achieved was attributed to timely decision-making, enhanced visibility, and strategic financial planning.
Ongoing strategies include:
Continuous Optimisation
Utilising real-time data for informed decision-making, ensuring operational efficiency and financial prudence.
Adaptation and Innovation
Adapting strategies based on market dynamics, fostering a culture of innovation for enduring success.