University of Technology Sydney

University of South Africa/Universiteit van Suid-Afrika

Partner and Outsourced CFO at Vital Addition

Vital Addition provides proactive, leading-edge and strategically relevant accounting solutions to entrepreneurs and small to medium businesses. Through a modern and customised approach, VA specialises in Taxation and CFO Advisory/Outsources Finance.

Founded in 2009, Vital Addition recognised the traditional method of accounting was leaving clients short, under-serviced and misinformed because they were too small for most traditional accounting firms to bother with, but still required the breadth of expertise that larger businesses did. Through a fresh-thinking mentality, we have proven our ability to innovate and fill this gap.

Keeping it real is a simple message that Vital Addition refers to every day. Encapsulating what makes us different to others in the industry; we stay authentic, natural and credible and remain focused and engaged with our stakeholders. 

At Vital Addition, we provide access to sound accounting and financial advice that is upfront, honest and reliable. Our motto, ‘Strength in Numbers’ perfectly describes where our expertise lies and we apply this in collaboration with our clients to reach their business goals. 

Included in our accounting and financial management services, we perform all bookkeeping and accounting processes and implement tailored strategies to ensure compliance with taxation legislation. We aim to manage the financial side of your business, so your energy and resources are focused elsewhere, knowing it is operating at its full potential.

Our clients are the cornerstone of our business, keeping them happy through our goal of always delivering on time and with clarity is what we continually strive for. Our motivated and spirited team provide our clients with the hands-on customised financial partnership they need to get the most out of their financial situation and business endeavours.

We aim to be the go-to resource for our clients, by being the trusted advisor through partnering and delivering innovative solutions.

Vital Addition

Partner

Career Objective:

Helping SME’s with their end to end financial processes by providing my services not only as an outsourced CFO but as a Business Partner.  Adopting a holistic business approach, taking care of end to end business functions and systems.

Industry Experience:

I have gained experience in software development and distribution, Import and distribution and supply chain installation and management.  Recently I have been consulting in the waste management and optometry industries.  I have worked with companies in the SME/ME space. (up to $80m in revenue)

Career Highlights:

These include increasing revenue sixfold without increasing overheads.  This was achieved by managing systems and processes effectively.  Other highlights were the implementation of month end procedures to shorten the reporting cycle at the same time ensuring the consistency and reliability of the management reports and the integration of new sales technology system into the supply chain.  During a recent engagement an investigation uncovered irregularities within their accounting system perpetrated by a long-standing staff member.  The initial engagement was to investigate, recommend and install systems and processes.  A long-term partnership has developed with this client.

Staff Mentoring:

I have been involved in staff mentoring and enjoy seeing them achieve their personal and professional goals.

Professional Skills:

I am skilled in both the financial and commercial aspects of accounting.  Skills include financial modelling, working with sales and marketing and supply chain.  Partnering with the CEO and in working with ELT I provided insightful analysis on performance to support key decisions.

Affiliation:

I have aligned myself with professional firms that offer a full integrated financial services including SMSF, Taxation and Financial Planning, thus offering SME’s and their founders complete integrated financial services, both individually and for their businesses.

T & R Services Pty Ltd

Consultant - Outsourced CFO and BPO

Marchon Eyewear/GENERAL OPTICAL – Is a leading supplier of quality eyewear, lenses and services to Independent Optometrists in Australia and New Zealand. Combining their offering into an Integrated Supply Chain value add. Marchon Inc. are a Global Eyewear Company and part of Vision Service Plan (VSP Global) group, a leading eye care insurance/healthcare multinational

As CFO (lead finance for Australia and New Zealand), I report to the local CEO and Finance Heads in New York. Involving USGAAP and IFRS Statutory Accounts and Audit in conjunction with PwC/Deloitte and KPMG. Focused on strategic plans, budgeting, and detailed report submissions.

Responsible for strategic analysis of profitability across all functions of the business, with recommendations for improvement.  Reports include Customer Support Manager, Accounts Receivable Manager, and Financial Controller.

Marchon Eyewear

Chief Financial Officer (CFO)

Business software company supplying SME and ME with Accounting and Payroll software with intelligent tools. Operating in Australia, New Zealand, Asia/Pacific Islands and South Africa.

Being the CFO I was:

# Responsible for full financial function (cash flow, procedures, policies and controls).
#  Member of the Board of Directors with full reporting responsibility.
#  Strategic partner to both the General Manager and CEO/MD
#  HR functions
#  KPi setting and monitoring
#  Involved in the sales and marketing processes

Key Achievements

#  Strategically involved in revenue recognition restructure that quadrupled revenue and cash reserves
#  Substantially reduced all overheads, resulting in significant cost savings.
#  Key contract negotiations (including Microsoft) with favourable outcomes.
#  Developed Board reports and reported on a timely basis every month (and when required)

Attache Software

Moirs Paper - one of the last independent paper merchants in Australia, involved in the importation, and distribution of premium paper.

Employed as Financial Controller, I then moved into the Commercial Manager position. Reporting into the Board of Directors as a CFO and Company Secretary.

# I computerised the whole office - moved them from typewriter to 'PC"
# Implementation of a new accounts and payroll ERP
# Involved in the negotiations of the purchase, then sale and successful move of their HQ

Richard Lorge