Background
When ATCA Sarl was called upon, the IT client was facing significant financial chaos. The company had been dealing with payroll errors and inconsistent financial records, especially just before the crucial year-end reporting period. This financial turmoil threatened the company’s ability to meet regulatory requirements, including the reporting of social charges. ATCA Sarl stepped in to stabilize the situation, ensuring the company would be able to submit accurate financial statements on time.
Challenges
* Payroll Errors: The payroll system was riddled with inaccuracies, causing confusion and uncertainty about the company’s financial health.
* Financial Disarray: The previous fiduciary had failed to maintain consistent and reliable financial oversight, resulting in discrepancies that needed immediate correction.
* Urgent Year-End Reporting: With the year-end looming, the client was under pressure to meet statutory deadlines and provide accurate financial reporting, which required fast and efficient intervention.
Actions Taken by ATCA Sarl
1. Immediate Action on Payroll and Financial Clarity:
* ATCA Sarl immediately took control of the accounting process, addressing payroll discrepancies and providing the client with quick year-end estimates.
* With the clock ticking, the team worked relentlessly to ensure that the necessary reports, especially for social charges, were submitted on time, alleviating the client’s concerns.
2. Audit Preparation and Financial Reporting:
* After finalizing the year-end financials, ATCA Sarl guided the client through the audit process.
* The auditors were impressed with the quality of the reports, despite minor adjustments related to the client’s transition. They noted a significant improvement in the quality of reporting compared to the previous year.
3. Long-Term Process Improvement:
* ATCA Sarl worked closely with the client to stabilize their financial forecasting for the upcoming year, ensuring a robust financial framework.
* Streamlined closing and reporting processes were implemented, making future reporting smoother, more reliable, and less time-consuming.
4. Consolidation of Financial Statements:
* The team also helped consolidate financial reporting for the Swiss entity and its international affiliates, ensuring consistent and transparent documentation for the entire group.
Results
* Financial Stability Achieved: ATCA Sarl’s intervention restored financial order, enabling the client to make more accurate forecasts and manage their finances more effectively.
* Audit Success: The company received high praise for the quality of its financial reports, with auditors recognizing the significant improvements.
* Increased Operational Efficiency: Streamlined reporting processes saved the client time and reduced errors, ensuring smoother operations moving forward.
* Continued Collaboration: ATCA Sarl continues to support the client, assisting with tax reviews and ensuring smooth financial reporting both locally and internationally.
Current Focus
* Ongoing support for Swiss and international tax reviews, covering approximately 100 employees and multiple international partners.
* Continuous consolidation of financial documents for the Swiss company and its affiliates, ensuring consistency and regulatory compliance.
* Maintaining high-quality, efficient financial processes across the company’s global operations.
Conclusion
ATCA Sarl’s intervention played a pivotal role in transforming the client’s financial operations, moving them from a state of chaos to stability. By providing quick and accurate reporting, optimizing financial processes, and ensuring compliance, ATCA Sarl helped the company regain control of its finances and set them on a path to long-term success.