One example of how Briars assisted a client is in the luxury goods market, which is just one of many sectors in which we operate. Our client engaged us to carry out an internal Due Diligence Review which led to a detailed report that looked closely at the entire spectrum of the cost centre aspects of the business model, including: accounting; procedures; compliance; risk; operations; stock reporting and business processes as a whole.
The majority of clients that use this service do not have their own in-house specialist teams to carry out complex and often labour-intensive investigations or audits. Briars is therefore often called to identify and resolve internal issues such as verification of data for statutory audits or the need to identify ways to streamline and reduce operational costs. Whatever the reason for an internal audit our first step is to identify objectively the ‘pain points’ which could be causing the business to not run to its full potential.
Our company-wide research resulted in a detailed report per territory and business unit on all areas requiring improvement or streamlining. In this case our comprehensive report focused on improving overall efficiency and profitability. It was a complex, multi-jurisdictional compliance – focused project, which tackled the unique challenges of this specialist sector.
After a preliminary risk assessment, the project plan was created, agreed and implemented. This leads to a series of reports showing the main areas of risk, their financial and human impact as well as remediation plans. After client approval, we implemented the solution and the core objectives were soon achieved. The client was able to improve efficiency and the client’s team trained to maintain those standards. The reward? An efficient, compliant and profitable business month on month and year on year.
It’s a game-changing solution
If you are looking for a solution for your business needs, please contact us and we will be happy to discuss your requirements.