Fast Growing Companies
Are you ready to enter new markets? Do you have an overview of international tax and accounting matters? And have you established a plan for how your business model can generate long-term profits?
Fundraising in the A round often involves professional investors such as business angels and venture capitalists. They expect you to have track of the numbers and be on top of the strategy.
At Deloitte, in this round we equip you with important financial insight and help with advice in the field of IT compliance, choice of ERP system, HR processes, posting of employees, IPO and much, much more.
Gaining the trust of your stakeholders requires you to be able to present all the necessary financial information and give them insight into the company’s performance. Unfortunately, many fast growing companies at this stage do not have the resources to hire a CFO, nor do many have the skills to take on the task themselves.
At Deloitte, we equip you with the desired financial insight into your business. In a number of companies, we have temporarily taken on everything in bookkeeping, payroll and reporting. The solution makes particular sense in the A round, where the need for information increases and where the stakeholders monitor the company’s development closely.
In addition, we offer help optimising your financial workflows and processes, so that you can spend your energy developing the core business.
Financial modelling incl. valuation of the company
When professional investors such as business angels and venture capitalists are to be brought on board, it is important to have a detailed financing plan in place.
This should include:
- Business case
- Sources and uses of capital (financing and investment budget)
- Indicative company valuation
We help you develop a detailed financing model that supports the business plan and complies with the applicable tax and accounting rules. Our experienced team also ensures that the model provides financial transparency – both in daily operations and in specific fundraising situations.
Finance system selection
As your business grows, the need for flexible workflows and better insight into the company’s finances, accounting, sales and invoicing increases.
Our team of experienced ERP and tech specialists have the necessary financing background and are ready to help you select the ERP system that matches your needs. Among other things, the advisory services consist of:
- Solution review through a financial roadmap
- System requirements
- Vendor selection
- Implementation support
- Project management
Growth into new markets
When expansion becomes relevant, it is important to consider the most appropriate form of establishment from a tax perspective. At Deloitte, we help design the optimal structure so that you have a concrete plan for how you can grow, taking into account the current tax conditions in the export market.
As part of our advisory, we consider:
- Billing flow
- Employment opportunities
- Tax implications
Raising capital is a resource-intensive and time-consuming process for a management team that is already busy operating and growing the business.
That is why we support high-growth companies on their growth journey. In our work, we not only lighten a large part of the workload for management. We also carry out a structured process with the potential investors and are happy to participate in negotiating prices, terms and conditions.
Global employer services
When an employee is to be posted abroad, it not only affects the employee’s tax matters. It also affects factors such as salary, insurance and pension. Perhaps the employee also needs help with moving, securing housing and school for the children. At Deloitte, we can help with all of this.
We offer to act as a “single point of contact” where we handle everything related to relocation, work and residence permit. This includes:
- formulation of expatriation policies, recruitment and expatriation agreements
- international personal tax and social security issues
- combination of pay packages
- independent advice on pensions and insurance
- assistance in optimising the pay package
- application for a work and residence permit.
Through our global network, we are represented in 140 countries and can thus advise on the conditions in each country and handle both secondment and posting on behalf of your company.
For some startups, HR can easily be pushed into the background in favour of more urgent tasks. But HR is important – even in the company’s first year of existence. Therefore, we offer legal assistance in preparing:
- employment contracts
- employment terms
- non-compete clauses
As a fast-growing company with dreams of international growth, at some point you will need to consider how your local accounts can be converted into International Financial Reporting Standards (IFRS).
In contrast to the Danish rules, IFRS is a complex set of rules that, among other things, relate to the recognition of income, warrants and capitalisation of development projects. Therefore, it is important that you are aware of the differences that are relevant to you, as foreign investors in particular will expect you to know the IFRS rules like the back of your hand.
At Deloitte, we help you through the entire process, from planning and the initial analysis to preparing the annual report in compliance with IFRS.
Do you have full control over user access management? Are all changes to your central platform managed securely?
With IT auditing, you get an internal review of your company’s general IT security setup, focusing on the established procedures and internal controls for your central platforms. IT auditing can be compared to financial auditing – but instead of focusing on the finances, we look at IT systems. After the audit, we draw up a report with suggestions for improvements that can be used as a ‘living’ working document and guideline, so that you can continuously optimise the business’s IT environment.
Has your company spent resources on implementing IT security policies and procedures to ensure GDPR compliance? Your customers, business partners and possible board of directors are probably interested in understanding what you have done to meet the requirements in contracts, SLAs and data processor agreements.
Through an independent assessment and certification of the company’s IT security and GDPR, you build trust with the stakeholders and give them assurance that the information you exchange is in safe hands. We also call this Third Party Assurance. The review will not just satisfy the stakeholders’ reporting needs. It will also put you in a better position than your competitors in the market.
If you are considering listing the company, the management must take their internal control environment into account: Has a risk assessment been introduced? Have the controls been formalised? Are you able to adapt your control environment to the changes that occur on an ongoing basis?
We offer assistance in establishing an internal control framework that makes sure that it has sufficient financial information to operate the company as a listed company. Among other things, this includes:
- Formalisation of internal controls
- Expanding the number of controls
- Closer follow-up process for all significant business processes.
In the work, we perform a maturity assessment of the company’s internal control situation. The assessment shows the current state, which will be used to prepare the company’s internal control environment.
Risk Management & Insolvency
As you grow and expand as a business, it is important that you are able to manage your risks and comply with both local and international law, ensuring that you understand how implications and risks affect the company.
At Deloitte, we help you identify risks and help prioritise, manage and monitor them.
If you are in the particular situation of being unable to pay the debt incurred in the company, and on the verge of bankruptcy, we have a restructuring team in our Corporate Finance Advisory that will help you get through the process in the best possible way.
At this early stage, it is crucial to have an overview of both key processes and key controls.
At Deloitte, we help you create a formal process house that creates an overview of the necessary processes and current controls. The purpose is to provide insight into the company’s risk exposure and build a solid foundation for how to prioritise specific control initiatives in accordance with your ambitions and growth goals. With a formal process house, you prepare for the fact that your processes can develop at the same speed as the company’s size – including when it comes to expansion into new markets.
As a startup company, you have only just planted the seed that is to eventually grow into a mature business. Yet, already in this phase, there are several important tactical and strategic considerations in relation to accounting practices. that will help you attract the first investors. At Deloitte, we help you get started on your growth adventure and ensure that you get an overview of all the factors that affect your company’s taxes and finances.