Managing the finances of a dynamic, project-based business is an intricate balancing act under the best of conditions. Throw in a multi-entity corporate structure, lumpy cash flows, and sudden pandemic-driven industry pivots, and it can quickly become an absolute logistical minefield.
This was the exact reality facing Mitchell Whiteman, Head of Finance at GTR Events.
GTR Events operates a robust portfolio of approximately 20 outdoor living and caravan expos across Australia. Historically rooted in the operational delivery of major professional cycling races like the Jayco Herald Sun Tour and the Cadel Evans Great Ocean Road Race, the team successfully pivoted into the caravanning space following the onset of COVID-19.
As the business expanded, acquiring three companies and launching several new shows from scratch, their underlying financial structures grew increasingly complex, scaling up to eight different corporate entities and joint ventures.
Here is how Mitchell and his lean finance team tamed the chaos, eliminated manual Excel errors, and transformed a multi-day consolidation process into a simple, 30-minute task using Spotlight Reporting.
The Challenge: A "Fly-by" Approach Prone to Excel Errors
When Mitchell first stepped into his role at GTR Events seven to eight years ago, a comprehensive, sophisticated reporting system simply didn't exist.
"In the really early days, we were probably just flying by based on what was in the bank account, running a really basic P&L, and then looking at a few event budgets and moving from there," Mitchell recalls. "But we never had anything that really consolidated the different entities and the different events they were running."
Because events rely heavily on upfront exhibitor site bookings and lumpy government funding, tracking accurate group cash flow is critical. GTR Events could frequently find itself outlaid millions of dollars in expenses long before an event's invoice cycle kicked into gear.
Trying to manage complex inter-entity transactions and multi-company revenue streams entirely inside Microsoft Excel was not only unrealistic, but it left the business highly vulnerable to formula errors.
The Solution: Seamless Onboarding & Hands-On Support
Having previously crossed paths with Spotlight Reporting during his time at an accounting firm and at Xerocon, Mitchell knew the software possessed the structural firepower GTR Events needed.
However, what ultimately sealed the deal wasn’t just the technology – it was the exceptional customer care.
"Spotlight was the best provider in terms of people reaching out, giving us feedback on what can and can’t be done, and really hand-holding us through those early days...it was that early support piece that made us think, ‘Okay, this is the right thing for us.’ We knew there’d be a bit to learn, but we didn’t feel like we were trying to work it all out ourselves."
With a direct line to a dedicated Spotlight expert, the setup was quick and tailored entirely to the unique intricacies of GTR's event-driven business structure.
The Results: Days of Work Shaved Down to 30 Minutes
Implementing Spotlight profoundly altered the efficiency and precision of GTR Events' financial reporting. What used to take days of tedious spreadsheet manipulation has been reduced to a couple of clicks. Spotlight Reporting offered three key benefits to save time:
1. Lightning-Fast Consolidation
Once month-end numbers are reconciled in Xero, the data flows seamlessly into Spotlight.
"Getting your group picture now has gone from something that would take days of dumping into Excel, realising there's formula issues, and trying to work it out, to the click of three or four buttons in Spotlight, and it's done," says Mitchell. "Now, it takes about half an hour."
2. Bulletproof Inter-Company Eliminations
With multiple structures and overlapping transactions, eliminating internal transfers used to be a major headache. Spotlight automated the entire process.
"Single-handedly, the elimination of inter-entity transactions has been the greatest thing we’ve done, for sure. Once they're set up, we don’t touch them again."
3. High-Level Confidence for Strategic Decisions
Instead of scrambling to build fragile financial models, Mitchell can confidently deliver group-wide transparency to business owners. This clear visibility empowered management to precisely map out the next 12 months, confidently timing when to consolidate operations and exactly when they were financially positioned to make new corporate acquisitions.
The Next Frontier: Click-of-a-Button Cash Flow Forecasting
GTR Events is currently in the process of scaling their use of the platform by implementing Spotlight Forecasting to completely phase out manual modelling in Excel. After a recent, tailored 1-on-1 education session with Spotlight’s training team, Mitchell is eager to unlock instantaneous scenario testing.
"At the click of a button, we can see what our cash flow looks like if our debtor days change. If our biggest customers all of a sudden start paying us in 60 days rather than 30, we can see exactly what that's going to look like for us. To be able to see that so quickly is fantastic."
Mitchell’s Advice for Multi-Entity Businesses
For other finance teams or multi-entity organisations hesitant to step away from traditional spreadsheets, Mitchell has one definitive piece of advice: lean into the initial setup.
"Just invest the time in it at the start, get it working well, and use the help that's there from Spotlight. It can feel a little bit scary when you’re first clicking around, but it becomes second nature pretty quick. Put the time in at the start, because the end product is clicking a couple of buttons and you’ve basically got the exact format of the reports you want."
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