Success stories
Interior design project management
Industria
Architecture
Cliente
Kaleidoscope Design
Fecha inicial
01/04/2023
walmark problem
Office dedicated to comprehensive renovations with extensive analysis and cost control needs
Kaleidoscope Design is a Valencia-based architectural studio that has revolutionized the comprehensive renovation sector. Its value proposition is based on a unique, agile, and innovative methodology that allows for the delivery of fully renovated homes in a very short timeframe.
They conceive each project as an immersive experience for the client, combining design, technology, and continuous monitoring with digital tools. However, this high level of sophistication in execution was not reflected in the financial sphere, as they lacked adequate tools to analyze the real profitability of their projects.
An outsourced accounting firm was limited to tax/commercial compliance and offered no information on margins, deviations, or areas for improvement by project chapter. This disconnect generated concern and uncertainty, despite having a professional and committed team.
Needs, goals and focus of the intervention
Margin control
Priority: an allocation of income and expenses by project to know the real profitability
Debugging
Structure tasks and processes to avoid errors and unproductive tasks
Financial culture
Create a data culture that enables reliable and accurate accounting
Real Time
Knowing deviations immediately makes it possible to redirect projects
walmark approach
Planning and implementation of the ideal solution
Implementation of analytical accounting with real-time KPI tracking using PowerBI
Our work involved a profound, orderly, and meticulous transformation of the accounting system. A process of structural change that involved technology, training, and role redefinition.
We moved from external accounting with quarterly closings that exclusively addressed commercial and tax requirements to project-based and department-based accounting, with monthly reporting and actual vs. budget analysis, a customized profit and loss statement, and a multitude of business indicators.
Steps followed during the transition
- Initial diagnosis with advice and collection of current and past accounting information
- Selection and implementation of new software tailored to the business, with the possibility of allocating costs and revenues on a project-by-project basis.
- Design of an accounting and analytical structure that reflects the reality of each project by chapters of work and project
- Customized training for internal administrative profiles in accounting and reporting tasks
- Development of PowerBI dashboards for production, finance, and marketing
- Supervision and support in the first accounting closings
Situation after our intervention
An accounting structure that accompanies the business and anticipates decisions
Today, Kaleidoscope has advanced internal accounting systems that allow them to make decisions based on accurate data, with individual financial tracking for each project and chapter. The process has entailed a cultural and functional transformation of the administrative department, which now forms an active part of management. Our relationship with the client continues steadily through the external Financial Controller, consolidating trust and providing flexibility as the business grows.
Achievements
- Complete implementation of analytical accounting by project
- Dashboards that are updated and accessible at any time, even on mobile devices.
- Reduction of manual tasks and calculation errors
- Margin control by work chapter
- Fluid flow of information between management, construction and finance
- Stable relationship with Freepyme as a strategic financial partner
FreePyme
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Contact
Beneficiary: Nilo Data Consulting – Exp: KD/0000802138
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