Streamlining finance for a major international airport

Challenge

Brisbane Airport, managing extensive assets and substantial revenues, was stifled by outdated systems and disjointed processes within its finance department. This inefficiency was a barrier to supporting their growth and operational needs.

Solution

White Squires initiated a comprehensive review of the airport’s financial operations, identifying critical inefficiencies and opportunities for enhancement. The project encompassed modernising management reporting, automating key financial processes, and revamping tax calculations and supplier payment methods.

Our solution include:

• Reviewing the key elements of the Finance Operating Model, documenting critical priorities and deadlines, pain points, control weaknesses and improvement opportunities.
• Overhauled and modernised Management reporting, including implementing TM1 and  introducing segment reporting.
• Automated key elements of Procure to Pay and Billing Processes.
• Reviewed historic tax calculations and resubmitted tax returns.
• Forensically analysed Supplier Payments.

Managed the successful tendering of External Audit services which resulted in the first change in auditors in 20 years

Impact

The transformation had significant impact on Brisbane Airport operations, 

• Reducing the time required for management reporting from ten days to just three
• Decreasing transactional staff numbers
• Achieving substantial tax refunds and cost savings in auditing fees.

This revitalisation enabled the finance team to add value strategically and support ongoing business expansion effectively.