UAE concierge & VIP travel services

A UAE-based concierge and VIP travel services company required stronger owner-side control over its financial performance, project profitability, cash collection, budgeting, and accounting. Ownership needed more than financial reports. It needed a dedicated function continuously monitoring the business, connecting operational activity to financial results, and identifying where management action was required. Yemnak established an outsourced Owner's Office, becoming ownership's centralised financial and performance-management function across the business.

• Ownership did not have one consolidated view connecting sales, project delivery, invoicing, collections, costs, profitability, and cash.
• Significant long-outstanding receivables had accumulated across multiple customers and projects.
• Historical invoices, contracts, costing information, and supporting documentation were fragmented.
• The accounting structure did not sufficiently reflect the project-based nature of the business.
• Management reporting did not clearly show which projects and customers were generating value and which required intervention.
• Budgeting, cash-flow planning, working-capital management, tax, and financial performance were being handled as separate activities rather than one owner-side function.

Yemnak identified that the issue was not simply aged receivables or accounting structure. Ownership required a dedicated office capable of continuously overseeing the financial performance of the business, challenging the numbers, connecting operational activity to profitability and cash generation, and following through with management on corrective actions. Yemnak therefore assumed the role of the company's outsourced Owner's Office from a financial and performance perspective.

• Established one centralised financial office reporting to ownership across accounting, CFO oversight, budgeting, cash flow, tax, collections, and project performance.
• Reorganised project accounting to provide visibility into revenue, cost, margin, collections, and profitability by project and customer.
• Introduced regular owner-level reporting covering revenue, margins, operating costs, profitability, working capital, liquidity, and cash requirements.
• Developed budgets, forecasts, and cash-flow projections and continuously monitored actual performance against expectations.
• Reviewed project and customer profitability to identify pricing, commercial, cost, and operating issues requiring management action.
• Reviewed approximately AED 50 million in project sales and customer balances and reorganised receivables by customer, project, ageing, and underlying cost.
• Rebuilt the supporting invoice, contract, and costing structure required to pursue outstanding balances.
• Followed collection performance and working-capital requirements as part of the wider financial position of the business.
• Oversaw accounting and tax matters under the same owner-side reporting structure.
• Translated financial findings into actions for management and matters requiring ownership decisions.

• Established a dedicated Owner's Office giving ownership one consolidated financial view of the business.
• Connected accounting and operational activity directly to profitability, cash generation, and business performance.
• Introduced project-by-project visibility over revenues, costs, margins, collections, and profitability.
• Supported collection of more than AED 12 million in aged receivables from approximately AED 50 million reviewed.
• Strengthened budgeting, forecasting, cash-flow management, and working-capital control.
• Improved ownership's ability to identify underperforming projects, customers, pricing structures, and cost issues requiring intervention.
• Replaced fragmented financial activities with one ongoing office responsible for monitoring financial performance and supporting owner-level decisions.