At Fomentar, all our services are configured according to your needs. You can be confident that we have fresh thinking, practical business approach and resources & capabilities to meet your needs. We work with different industries and sizes of businesses and so do our services. Whether complex or day-to-day, project based or long term partnerships, traditional or digital, we tailor our services and shape them to fit your needs; because ultimately we are focused on you and helping you prosper.
Accounts & System
Modeling Services
Accounts Offshoring
Back Office Support
Financial Reporting
Management Reporting
When Farah (imaginary name used to protect privacy), a Saudi based creative designer approached our team with a small handicraft business she created via social media; Farah had big dreams to convert her hobby into a business. We agreed on the scope of organizing her bookkeeping and accounting system design. Later our team and Farah recognized several issues with her business model, some of the were highly critical that she was not clear about the cost structure and profitability issues.
The team decided to review the whole business model and did a benchmark with successful businesses worldwide. When we finished our agreed scope, we decided to give her a report with our findings. When Farah called us with a request to support her in implanting the new system, we have proposed to appoint a virtual accountant and we promised a support of our senior team as mentor to develop her financial management skills. These experiences given us the strength to develop our Mentor Program.
Our client, a telecom company operating in Europe was expecting to induce more value addition in their ordering process, and strengthen its position in the procurement operations. The procurement is initiated via a custom made tool of the client which is linked to the SAP database. The nature of such transactions can be Capex or Opex, sometimes many such orders could be of short notice. Analysts summarized the client’s total risk (α) in the following formula Σα= α (market discount from vendors) + α (business from existing customers) + α (goodwill that attains new business)
Fomentar support team closely monitored and studied the process and developed SIPOCs, RCA and ordering matrix report to understand the cause of delays accumulated in the stage of a process. We brought a pack of powerful automated reports for internal control, which tracks the orders of the entire department. Our solutions were able to generate a PO within an average time frame of 10.34 days, while company’s average time to generate a PO was 26.88 days.
We had chance to work with a GCC based business consultant, he was trying to secure additional investment for one his clients. This transportation project was under development and our client was fully involved in the execution, that give him very less time developing the project pitch for fundraising. We were asked to review the work in process project pitch which was old and far different from what they are currently working on, due to changes incorporated to the during the execution process.
Our team studies the financial and strategic aspects of the business from the available old feasibility study, existing capital structure, new strategic direction and scope, macro and micro business environment. The business pitch we created helped him to convince the new inventories and assure the support of existing stakeholder in the new business strategy.
Our client is a new generation start-up and a group of tech savvy, wants to focus on doing what they enjoy most. They were looking for a team to take care of their accounting system. The request was to come up with a simple solution that give then control over the financial aspects of the business. We introduced cloud-based accounting software and support of a virtual accountant, now we take care of their daily accounting and support service requirements and our team help them to analysis and understand the financial statements available online.
