Caucaspack Financial Transformation & CFO Support

Caucaspack, a leader in the production of recyclable food packaging materials in Georgia, engaged SavvY to support their digital transformation journey and the adoption of IFRS standards back in 2022. This collaboration aimed to improve the company’s operational efficiency, enhance financial transparency, and align with international best practices as part of their expansion plans.

As part of this ongoing partnership, SavvY has also been providing Floating CFO services, ensuring that Caucaspack's financial management is strategically aligned with its growth objectives and long-term vision.

SavvY’s involvement included a comprehensive transition from legacy software systems to an advanced ERP solution, integrating key financial and operational processes. Additionally, we facilitated the adoption of IFRS, equipping the company with the necessary tools to support its global expansion and meet international financial reporting standards. This partnership is a testament to the seamless integration of digital transformation and financial oversight to enable sustainable growth.

How we helped

SavvY took a multifaceted approach to assist Caucaspack in optimizing its financial and operational capabilities:

1. Digital Transformation & ERP Implementation: We guided Caucaspack through the complex process of transitioning from their existing software systems to a fully integrated ERP system. This shift not only modernized their financial management but also streamlined other critical operational processes, enhancing efficiency across the organization.
2. IFRS Adoption: SavvY supported the implementation IFRS standards, ensuring compliance with local and international financial reporting norms. This initiative laid the foundation for Caucaspack’s expansion plans, enabling the company to operate transparently and efficiently on an international scale.
3. Floating CFO Services: As part of the ongoing partnership, SavvY provides Floating CFO services, overseeing Caucaspack’s financial operations. This includes delivering insightful financial reports, managing day-to-day financial activities, and ensuring accuracy in the accounting functions. Our team ensures the company’s financial division operates smoothly and adheres to industry best practices, helping them make informed, data-driven decisions. SavvY manages the external audit process, from selecting the audit firm to coordinating with the internal accounting team. We ensure the smooth delivery of required documentation and support the timely completion of the audit, ensuring compliance with relevant standards and regulations.
4. Financial Reporting: SavvY developed and delivered comprehensive financial reports, including profit and loss statements, balance sheets, and cash flow statements, all tailored to Caucaspack’s production sector. These reports are designed to not only meet regulatory standards but also provide KPIs that guide strategic decision-making. In addition, we assisted in formulating financial plans and budgets that align with Caucaspack’s long-term growth objectives.

Impact and Potential

The collaboration between SavvY and Caucaspack has resulted in tangible and sustainable improvements across the company’s operations:

1. Improved Financial Transparency: Through IFRS adoption, Caucaspack now operates with globally recognized financial reporting standards. This improvement in transparency positions the company well for future partnerships, investments, and international expansion.
2. Informed Decision-Making: The introduction of sophisticated financial reports and performance metrics has enabled Caucaspack’s leadership to make more informed, strategic decisions, optimizing both short-term operations and long-term growth strategies.
3. Sustainable Growth: With the support of Floating CFO services, the company benefits from expert financial oversight that ensures all financial operations are efficient, accurate, and strategically aligned. This contributes to Caucaspack’s sustainable growth and positions them for continued success in the packaging industry.