The challenge
Lynton Lasers Group is a UK manufacturer of medical devices. Originating from The University of Manchester, the company has grown steadily over the last 25 years and continues to do so.
Initially, Lynton made the decision to replace their internal senior finance team and identified that Co-Sourcing their numbers was the right solution for them. Their management team needed a provider who could spend time within their business to take control of the detail, reporting and provide strategic support at Board level (traditional role of an FD and/or FC).
As Lynton continued to grow an IT solution was required to provide ongoing support to their office and remote based team which were being managed in-house by key resource for other departments. With over 50 employees, the company recognised that it needed additional HR resource to support their internal team and provide strategic input.
To support future growth plans, the Group invested over £0.5m in new facilities and decided to embark on a recruitment campaign to ensure their people resource matched their ambitious plans.
The Fact3 solution
Lynton engaged Fact3 as their accounts co-sourcing team and as result of our longstanding relationship, Lynton looked to Fact3 to provide their systems, people and recruitment solutions as the needs arose. They now have the whole package!
Numbers
Fact3 oversees Lynton’s finance department and provides monthly management accounts, calculates payroll and manages group cashflow. In addition, we prepare financial forecasts, attend board meetings, providing strategic input and manage key relationships with their bankers and auditors.
People
Fact3 provided strategic advice to the Board and helped the company to define its value and role this out to the business. Revisions to the Company’s onboarding process, employment contacts and staff handbook have been key projects ahead of expansion along with engaging Fact3 as their people advisor.
Systems
Fact3 took control of Lynton’s IT systems and provide off-site IT support to address daily requirements of the team, as well as sourcing, set-up and installation of hardware as required and offering strategic advice regarding the latest opportunities and threats.
Recruitment
Successful recruitment requires significant time investment, and Fact3 were able to take on this role to allow the senior team at Lynton to run their business with minimal distraction. Focused candidate resourcing has enabled Lynton to grow their team with the right people.
The #FACTS
Stable
We’re in it for the long haul
Our co-sourcing relationship with Lynton began over a decade ago and is still going strong!
Support
Strategic support
As a valued part of the senior management team, our experience gained from working alongside other SMEs, provides an additional dimension to the decision making process.
Savings
Cost effective solution
The skills that co-sourcing provides the business with would incur a significantly higher level of cost if that resources were met through full-time employees.
Hired
Successful recruitment
We’ve helped to recruit a number of high calibre candidates with the specific skills the team required to grow their production and R&D teams.
Time
Time and growth
Co-sourcing their Systems and People needs, has freed valuable time at a senior level to be able to focus on other key areas of the business which need their expertise.