When VF Europe initiated a major finance transformation—relocating its shared service center and outsourcing key finance functions—TriFinance was already on board to ensure business continuity. Thomas Mylle, Bookkeeping Consultant at TriFinance, was initially brought in to assist in the Accounts Payable (AP) operations for Supreme, one of VF Europe's brands at the time. However, as the transformation unfolded, Thomas’ role evolved, requiring him to take on broader responsibilities in finance operations and knowledge transfer.
TriFinance consultants are fast learners and seamlessly integrate into our finance teams. They understand our challenges and are able to bring hands-on support and process expertise in bookkeeping.
From temporary support in bookkeeping to facilitating a smooth transfer in a major finance transformation project
"At the start of my assignment, my main focus was ensuring continuity in the Purchase-to-Pay (P2P) processes for two of the Supreme brand’s entities: France & Germany. I handled invoice processing, intercompany postings, bank reconciliations, payment processing and prepared all information for the local VAT declarations in France and Germany”, explains consultant Thomas Mylle.
As a junior consultant, Thomas experienced a challenging learning curve during the initial weeks of the project. Soon he was able to take on additional tasks, such as month-end closing tasks for these entities, including accruals, prepayments, A/P aging, and accounts receivable for the stores in Paris and Berlin. Later on, he also stepped in providing audit documentation and filling out Intrastat reports, and he took on some tasks for the Supreme entity in the UK.
The need for structured knowledge transfer became more urgent when VF Europe went through a major finance transformation. The company sold their Supreme brand to EssilorLuxottica, outsourced the financial shared service center, and moved some of the finance functions that were previously based in Antwerp to their headquarters in Switzerland.
This finance transformation required Thomas' role to go far beyond operational bookkeeping support. He collaborated on the smooth transition of the bookkeeping department for the Supreme brand to the team of the new owner EssilorLuxottica, based in London, United Kingdom.
As a member of the VF Europe team during such a major finance transformation, I had to step up quickly and facilitate a seamless transfer of AP processes to the new AP team, as well as continue to ensure continuity, as was the initial project scope.
Facilitating a structured knowledge transfer
Andy De Fyn, Director Accounting EMEA at VF Europe, explains Thomas’ role in the transfer of finance-related tasks to the new team in London: “Thomas ensured continuity in financial reporting, managed the final month-end closings under VF Europe’s ownership, and aligned VAT reporting with the new structure. To ensure a seamless handover, he created detailed documentation, conducted live training sessions with the new team in London, and continued to provide support during a shadowing period.”
By doing so, bookkeeping responsibilities were gradually transferred to the new brand owner, and a seamless handover was guaranteed.
Tackling the challenges of an evolving role during VF Europe’s finance transformation
As a junior consultant on his first project, Thomas quickly had to prove that he could handle a wide range of responsibilities. He initially focused on bookkeeping tasks, but in VF Europe's Finance Transformation journey, he soon became involved in structuring the transfer of financial processes, and collaborating with a wider range of stakeholders.
“Being on-site during such a major transformation meant I had to adapt quickly. I soon went from a fairly operational role in accounts payable (AP) to being involved in the transfer of finance tasks from the team in Antwerp to the new teams in London for the divested Supreme brand”, Thomas says.
Thomas evolved in a few weeks from handling day-to-day Accounts Payable operations to confidently supporting the transformation process. He stepped up in training the new team and ensuring a structured knowledge transfer.
How the TriFinance approach helped their consultant to excel
Thanks to regular follow-ups with the TriFinance team, the support of a designated mentor, and being connected to a network of experienced colleague consultants, Thomas was able to meet the challenges of this dynamic and evolving project.
“Knowing that for every challenge I encounter during a project, whether in stakeholder management or in the area of technical accounting questions, I can turn to someone at TriFinance, boosts my self-confidence. This gave me the confidence to take on more responsibility,” says Thomas.
"Project follow-up and support for our consultants is where we make the difference," explains Maxine de Beukelaar, Business Unit Leader Transition & Support at TriFinance. "This way, junior consultants benefit from the years of experience of their colleagues. Additionally, we can also provide strategic advice. Our expertise in Finance Transformation ranges from supporting continuity in finance operations, like in this project, to guiding transformation processes from A to Z. We can also consult on certain aspects of a Finance Transformation journey, like designing a Target Operating Model (TOM) or building operational excellence through Business Process Management (BPM). Everything starts with a full understanding of the client's needs. That’s why we invest in building strong relationships with our clients.”
Our collaboration with VF Europe is based on trust and shared goals. We don’t just provide the support needed initially; we think along, ensuring long-term impact.
A strong partnership built on trust and expertise
Andy De Fyn corroborates VF Europe’s strong relationship with TriFinance over the years. “In our Antwerp Shared Services Center, we have been relying on TriFinance’s expertise to support our finance operations whenever needed. We have confidence in their ability to quickly provide quality consultants that have a strong match with our company culture. Their strong follow-up and additional support set them apart from competitors," says Andy De Fyn.
Maxine de Beukelaer confirms the strong working relationship built over time: "Our collaboration with VF Europe is based on trust and shared goals. We don’t just provide the support needed initially; we think along, ensuring long-term impact."
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Images: VF Europe - The North Face
