Financial Director of the Year 2008

Business description: WhiteLabelDating.com, which allows partners to create their own branded dating sites, was initially considered ‘high-risk’ by the banks and merchant service providers. Having proved this was certainly not the case, Raines negotiated a number of payment terms, significantly boosting cashflow. She also recommended paying partners their revenue shares one month earlier, which prompted more than half to spend the free cash on marketing, increasing membership.

Judges comments: The judges felt that Jennifer Raines was the accountant who had made the most extraordinary and measurable contribution to a business. Raines was nominated by WhiteLabelDating.com, which says that as a part-time FD she positions herself as an integral part of the management team with vision & commitment and provides value to the business & shareholders every day. Jennifer has been instrumental in the growth of the business and having the right information available to test and challenge perceived “truths” in the business has enabled WhiteLabelDating.com to grow considerably.

Jennifer was a key player in increasing the number of partners using the WhiteLabelDating.com model and her restructure of the finances led to a significant amount of cash being freed up which was subsequently used to acquire ServicePals.com.

One of the key points for the judges was that throughout the acquisition process Jennifer provided the financial information, expertise and coaching needed to give the directors the confidence to successfully negotiate the deal.

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