Mishcon de Reya automates annual budgeting in 6 weeks with Anaplan & Bedford Consulting

Mishcon de Reya is a leading law firm in the United Kingdom, with over 1,200 staff and offices located in London, Singapore and Hong Kong. The firm has a broad set of services and expertise and practices law in areas including Corporate, Dispute Resolution, Employment, Innovation, Private and Real Estate. In recent years the business has been accredited with numerous awards including IP Team of the Year at the Luxury Law Awards in 2022 and UK Law Firm of the Year in 2021. Off the back of the quality of work delivered, Mishcon de Reya has experienced exponential growth and has ambitious plans to double in size and capacity within 3 years.

To support this growth, CFO, Matt Hotson, and Finance Director, Anjali Rao initiated a Finance Transformation project to incorporate the automation of planning, reporting and consolidation. Previously, the organisation struggled with disparate spreadsheets and inconsistent planning processes that required intensive manual manipulations rather than being driver-based. A key goal of the Finance Transformation was to achieve an integrated Profit and Loss, Balance Sheet and Cash Flow Statement that enables senior management to drill down into the drivers of the business including utilisation, capacity and granular cash flow, all connected back to revenue targets.

“We completed a short but comprehensive evaluation of the key market players and chose Anaplan as a globally recognised best-in-class tool for financial planning, consolidation, and reporting which had advanced user functionality compared with other solutions.” Anjali Rao, Finance Director

Another key factor in Mishcon de Reya’s decision was the speed at which the platform could be setup. Anjali continues,

“As a fast-growing business that has recently been through a merger having a platform that we can expand easily across multiple business functions and absorb additional entities in an agile way was key in our decision-making process, notwithstanding our timelines: we needed this up and running within 6 weeks.”

“Anjali, Tony and Graham have been running a highly impressive Finance Transformation. With our Legal customers increasingly focused on the business impacts of inflation, given the extent of variable costs from a large people base it becomes imperative that financial modelling and resources are tightly integrated so that Executives can mitigate risk in a dynamic business environment. Anaplan is delighted to be a part of this journey with Mishcon de Reya and look forward to automating consolidation and reporting in the near future.”

Pete Dixon, Commercial Manager, Anaplan

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