Thank you to our Summer Finance Intern Daniel Jones
In true Cryoniss ‘continual improvement’ style, as the company has expanded its operations over the past few years, the management team were aware whilst their existing financial processes were accurate, non-value adding time could be reduced. However, to switch from one accounting programme to another requires time and attention to detail, and this is where Daniel came in.
Working with the management team, Daniel implemented and trained the team in a new process for the payment of expenses, distribution of sales invoices and capturing of Directors' expenses. This was seamlessly rolled out across the company, and Cryoniss’ accountancy firm Prime Accountancy, significantly reducing the amount of time spent by senior management, especially the CEO, handling day-to-day transactions, whilst enabling the team to have full visibility of the cash flow and financial obligations.
Once this had been completed, Daniel worked with the Board of Directors to generate a revised set of financial predictions, following on from a strategy review of the company in light of the Covid-19 pandemic. Again, using this as an opportunity to improve our existing processes, Daniel compiled a revised and improved set of financial tools for the management team to use in the future.
“Working for Cryoniss has been an excellent opportunity for my professional development in the area of Finance, and I feel the various projects I undertook have prepared me well for entering the graduate labour market next year. Working with the board of directors I have managed to devise a new system to help capture invoices, in order to provide more scrutiny and oversight. I have also worked on the development of a three-year business plan, which will form an integral part of Cryoniss's Financial Strategy moving forward from the Covid-19 pandemic. The experience has also built up my Financial Accounting skills, by preparing the Q1 Management Accounts and working with software such as Excel. One of the best parts about a placement with a small firm is the fact I am able to see a project from start to finish, and easily see how my contributions have helped to make a real difference to how Cryoniss manages its Finances. Sonia has been an excellent source of support and guidance throughout the whole process, and I am sure with its clear Business Strategy Cryoniss has a very promising outlook going into the future.”
“It has been a pleasure working with Daniel. Whilst being very hard working and professional, Daniel has a great sense of humour and brought an interesting, fresh perspective to the team with his Economics insight. Daniel did a great job with the projects we assigned him, and the full suite of improvements implemented in this exercise has saved me at least 14 hours of work a month. Daniel heads back to his final year, and I have no doubt a promising career awaits him. He is going to be missed by the whole team.”