Case Study
Retail4 June 2024
Retail Group Cuts Month-End Close to 3 Days
Month-end close reduced by 57% and operating costs down 12%
Background
Northbridge Retail Group operated 18 stores but relied on spreadsheet reconciliations that took more than a week and left the finance team firefighting audit queries.
The Challenge
Month-end close averaged seven days, stock adjustments were inconsistent, and management reporting landed too late for trading decisions.
Our Solution
We standardised reconciliations, implemented a three-day close checklist in Xero, and rolled out automated bank/stock feeds with review sign-offs.
Results
- Close cycle time cut from 7 days to under 3
- 12% reduction in operating costs by surfacing margin leakage
- Board reporting delivered 4 days earlier with KPI commentary
Testimonial: “Harrison James cut our month-end close from 7 days to just under 3 and surfaced margin insights that helped us trim 12% in operating costs. Shared with permission after our FY24 review.”
