Client Snapshot
Key Highlights
Client Background
The client is a London-based real estate development and construction firm with a strong track record of delivering residential and mixed-use projects. To date, the organization has completed over 6,000 homes and maintains an active development pipeline of approximately 5,000 homes across multiple projects.
Operations are structured across numerous legal entities and special purpose vehicles (SPVs), resulting in complex accounting, consolidation, and reporting requirements. Prior to engaging OHI, the finance function relied heavily on manual accounting and reporting processes, leading to extended close cycles, reconciliation challenges, and inconsistent portfolio-level visibility.
Business Challenge
As business complexity increased, the client's finance team faced mounting pressure to accelerate the month-end close while maintaining regulatory compliance and reporting accuracy. Key challenges included:
Low On-Time Close Performance
Frequent close overruns led to missed internal deadlines and reduced confidence in financial reporting timeliness.
Knowledge Transfer Gaps
Ongoing changes within the finance team resulted in incomplete handovers and loss of critical process and business knowledge.
Lack of Process Standardization
Absence of standardized close calendars, checklists, and SOPs caused variability and inconsistent execution across reporting periods.
Post-Close Rework
Adjustments identified after finalization of financials led to rework, version control issues, and inefficiencies.
Extended Audit Timelines
Delayed close cycles directly impacted audit completion and management review timelines.
The client sought a scalable outsourcing partner to introduce structure, discipline, and governance into the month-end close process while improving speed and control.
OHI's Approach & Solution
OHI conducted a comprehensive diagnostic review of the client's end-to-end close activities in collaboration with the onshore finance team.
Diagnostic Review Activities
- — Conducted detailed walkthroughs of end-to-end close activities with the client's onshore finance team
- — Assessed processes across general ledger, accruals, fixed assets, intercompany accounting, and reporting
- — Identified bottlenecks, dependencies, and areas of recurring rework
Planning Objectives
- — Defined measurable KPIs including days-to-close, percentage of on-time close, and close activity turnaround times
- — Developed a phased transition and stabilization plan aligned with UK regulatory, statutory, and audit requirements
- — Established baseline performance metrics for continuous improvement tracking
Standardized Documentation
- • Standardized close manuals and activity calendars
- • Developed comprehensive checklists and SOPs
- • Created consistent templates across all reporting entities
Impact: Eliminated variability and ensured consistent close execution.
Maker-Checker Controls
- • Introduced maker-checker controls to strengthen review discipline
- • Reduced errors through structured validation protocols
- • Established clear accountability at each stage of the close process
Impact: Strengthened review discipline and reduced errors at source.
Governance Meetings
- • Implemented daily and weekly governance meetings with key stakeholders
- • Tracked progress, resolved bottlenecks, and managed dependencies
- • Ensured alignment between onshore and offshore teams
Impact: Proactive issue resolution and improved stakeholder alignment.
Structured Close Calendar
- • Established a structured close calendar to proactively plan deliverables
- • Aligned workstreams with reporting deadlines
- • Optimized resourcing to ensure clear end-to-end ownership of close activities
Impact: Proactive planning replaced reactive firefighting.
Deep Business Understanding
- • Built deep business and transaction-level understanding
- • Supported expanded scope and managed complex close scenarios
- • Implemented a direct communication model with clearly defined points of contact
Impact: Enabled proactive follow-ups and faster issue resolution.
Close Trackers & Dashboards
- • Introduced standardized close trackers and dashboards
- • Monitored open items and improved visibility across teams
- • Consistently achieved on-time close targets
Impact: Real-time visibility into close progress and open items.
Results and Impact
| KPI | Before OHI | After OHI | Improvement |
|---|---|---|---|
| Month-End Close Cycle | 25 Days | 15 Days | 40% Reduction |
| On-Time Close Rate | 65% | 95%+ | +30% |
| Post-Close Adjustments | High | Minimal | Significant Reduction |
| Audit Timelines | Extended | Streamlined | Improved Readiness |
OHI's structured close methodology, standardized controls, and performance-driven governance model enabled the client to significantly accelerate its month-end close cycle. The engagement improved on-time close performance, reduced post-close rework, and enhanced reporting reliability—providing leadership with timely financial insights while maintaining audit readiness and scalability across a growing development portfolio.
"OHI brought structure, discipline, and ownership to our month-end close process. Their approach significantly improved our close timelines, reporting confidence, and audit preparedness."