The annual leadership conference took place at the Sandton Convention Centre on 19-20 October 2023. One of the key highlights of the conference is the Life Achiever Gala Event. It is here that we celebrate outstanding accomplishments, recognise exemplary teams and individuals, and recognise outstanding contributions across the business. We are pleased to announce that Life Health Solutions received two awards this year – Ansaaf Ishmail took home a Jakes Gerwel Award and our finance team bagged an award as well.
This is how the finance team delivered on Operational Excellence
Twelve months ago, Life Health Solutions had undergone an organisational change that left key positions within the finance department vacant. This void caused it to operate in a reactive way that did not fully support the business. Significant instabilities in the department had adverse effects. Monthly financial results were always submitted late, errors were a factor, and many hours were spent having to rework the numbers. There were also costly challenges relating to purchase orders and missed opportunities to boost client contracts. All of this resulted in bad debt write-offs of approximately R13 million. However, over the past several months, the finance department took proactive measures to improve their operational efficiencies.
Their impact has been significant
Through their constant effort in aligning and cleaning up the General Ledger (GL), the finance results have become consistent, and are now submitted on time. Additionally, purchase orders and disputes have significantly decreased. Debtors' provisions have dropped from over 60 to 50 days as of August-September 2023, and collections have exceeded the target by R65m.
Meet the team
