Online Consumer Goods Business
    Case Study

    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.

    Online Consumer Goods Business Overview
    Strategic Growth Background

    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.

    Business Challenge Concept - Wooden blocks representing challenges

    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.

    At Growwth Partners, we don't just consult; we collaborate to transform businesses and pave the way for sustained success.

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