Outsourced Accounting for a Contracting & Fit-Out Company

Client Overview

A Dubai-based contracting and technical services company operating across interior fit-out, maintenance, and project-based works. The business supports multiple concurrent projects and relies heavily on timely invoicing, supplier coordination, and accurate project-level cost tracking to maintain cash flow and operational control.

Prior to Swift’s engagement, the company operated without a dedicated in-house finance function, with financial management handled directly by general management using manual tools and spreadsheets.

Challenges

As the business grew, the limitations of Excel-based financial management became increasingly evident. Key challenges included:

Heavy reliance on spreadsheets for invoicing, SOAs, and petty cash, creating inconsistencies and delays

Lack of centralized financial data, making it difficult to monitor receivables, payables, and cash flow

Limited visibility into project-level costs, reducing management’s ability to assess profitability

High risk of human error due to manual data entry and fragmented records

Time-consuming month-end processes, with no reliable closing structure

Operational burden on management, who lacked timely and accurate financial information for decision-making

The absence of a structured accounting system restricted financial oversight and created operational strain at management level.

Solution

Swift Audit & Advisory delivered a structured outsourced accounting engagement combined with a full transition from manual Excel workflows to a system-based accounting environment.

1. Ongoing Outsourced Accounting Function

Swift began by taking over monthly accounting responsibilities, ensuring all transactions were properly recorded, supported, and categorised. This created a stable financial baseline and restored confidence in the numbers.

2. Process Review & Data Structuring

The team worked closely with the General Manager to understand operational workflows and identify gaps in existing practices. Historical data was cleaned, standardised, and reorganised into a system-ready format.

3. Accounting System Implementation

Swift led the migration from spreadsheets to a complete accounting system, including:

Chart of accounts design aligned with operations
Customer and vendor setup
Project codes for cost tracking
Automated invoicing and SOA generation
Petty cash controls and reconciliations
Replacement of repetitive Excel-based tasks with automated workflows

4. Training & Knowledge Transfer

To ensure long-term sustainability, Swift provided hands-on training to the General Manager and administrative team, enabling confident day-to-day use of the system and reducing dependency on manual intervention.

Outcomes

The engagement resulted in a significant transformation of the client’s financial operations:

Substantial reduction in manual work through automation and system controls
Improved accuracy and reliability of financial data
Real-time visibility into receivables, payables, cash flow, and project costs
Faster and more structured month-end closing
Improved professionalism in invoicing and financial reporting
Stronger financial oversight for management, supporting better operational decisions

The new accounting structure provided a scalable foundation capable of supporting the company’s ongoing growth.

Broader Benefits

Beyond outsourced accounting, Swift modernised the client’s financial infrastructure and reduced operational risk by eliminating spreadsheet dependency. The improved structure strengthened documentation discipline, enhanced transparency, and freed management to focus on core business operations rather than administrative accounting tasks.

The transition to a system-driven finance function also improved the company’s interactions with external stakeholders. Banks benefit from clearer, more structured financial information, while vendors and clients experience more professional, timely invoicing, statements of account, and payment tracking. This has strengthened operational credibility and trust across the company’s commercial relationships. The client is now equipped with a sustainable accounting framework that supports governance, reliable reporting, and the company’s future expansion.

“Our goal was not just to fix the numbers, but to rebuild a reliable system the management can trust every single day. The audit helped them regain control of their operations and make decisions based on accurate, transparent information.”

- Arnulfo Relampagos, Assurance & Operations Manager

Author: Swift team, Swift Audit & Advisory