Case study
Monthly financial statements went from 3 to 5 days of evenings and weekends to about 20 minutes, ready the day the books close.
Touch Bistro's controller used to build IFRS statements in Excel after a long close, and FP&A spent more than a day copying and pasting budget-vs-actual reports. With MCC, the statements run in Vena, a standard reporting package goes to the CFO before close, and FP&A plans in separate OpEx, headcount and revenue models.
Last updated
Send this to your CFO3 to 5 days → 20 minutes
Monthly IFRS statements
Full statements on the first live run, the day the books closed
About 4 weeks
Working time to go live
Two months on the calendar around month-end weeks, then one month in parallel
30 pages
Monthly reporting package
Built with MCC, it answers the CFO's questions before they're asked
In their words
“Last year, we worked with Charlie and MCC to automate our IFRS financial statements and monthly reporting in Vena. Previously, generating statements took 3-5 days with late nights and weekends. Now, it runs in under 20 minutes - saving time, reducing errors, and ensuring consistency. We also automated our reporting package, allowing earlier insights and better review before close. Charlie and his team supported us every step of the way.”
At a glance
- Company
- Touch Bistro
- Industry
- Restaurant POS and management platform: software, hardware, payments
- Entities
- Multi-region, multiple currencies
- Timeline
- About two months, roughly four weeks of working time, then one month in parallel
- Platform
- Vena
- Source system
- NetSuite (chart of accounts redesigned first)
- Scope
- IFRS financial statements, monthly reporting package, OpEx, headcount and revenue planning
- What we worked on
- Reconciliation and the closeBoard and investor reporting
Why now
Touch Bistro is private-equity backed, with pressure on margins. Finance wanted better, faster reporting without adding cost, while reporting had become evening and weekend work and the FP&A model took minutes to open.
Before and after
| Before | After |
|---|---|
| The monthly IFRS income statement, balance sheet and cash flow were built in Excel after close, often as evening and weekend work. | The full statements run in Vena in about 20 minutes, and the CFO gets them the day of close or the next morning. |
| There was no standard reporting package for the CFO and FP&A, so questions went back and forth ad hoc. | A preliminary financial reporting package, now about 30 pages, presented the day before close. |
| Anything spotted after close meant reopening the books and redoing manual reports. | The CFO and FP&A see results during close, so issues get fixed before the books close. |
| FP&A and financial reporting numbers didn't always agree, which frustrated the CFO. | Both teams work from the same data. |
| FP&A spent just over a day copying and pasting budget-vs-actual reports for each department, and the OpEx and headcount model took 7 minutes to open. | Separate OpEx, headcount and revenue models in Vena. The headcount model was running a little over a month in. |
What we built
- Automated the monthly IFRS statements in Vena from NetSuite, including the rules for the IFRS adjustments.
- Built the preliminary financial reporting package with the controller's team, released piece by piece each month.
- Ran one month in parallel with the manual process before the official launch.
- Rebuilt FP&A planning as separate OpEx, headcount and revenue models.
- Trained the team with Vena University plus Touch Bistro-specific sessions, so new staff can become super users.
Who worked on it
Charlie LiuChief Happiness Officer
Statements still built by hand after every close? See whether this fits.
“Reporting just doesn't take any of my time anymore, to be honest.”
Their advice to another Controller
“they can tell you what's around the corner before you kind of go around the corner.”
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