Huel cuts month-end close by two days after overhaul

Huel has cut its month-end close by two working days after overhauling its finance processes with FloQast and PwC UK. The change comes as the nutrition brand reports annual revenue of more than £250 million.

Its finance team replaced spreadsheets, Slack messages, manual trackers and individual checklists with automated workflows on a centralised platform. It also moved from line-by-line manual reconciliation to rule-based automation. Balance sheet reconciliations that once took several minutes per entity are now refreshed in 30 seconds.

The shift has changed how Huel runs a finance operation that supports a fast-growing consumer business. Greater visibility over the close process has helped the team monitor progress, spot bottlenecks and maintain tighter control over tasks across the function.

The project, carried out with FloQast and PwC UK, also improved collaboration within finance and reduced reliance on ad hoc communication and manually maintained records at month-end.

Process changes

The update also affected staffing. Huel said the business has continued to grow by 15% since the system was introduced without increasing finance headcount, giving staff more time for commercial analysis and strategic support.

For finance teams at expanding consumer companies, the month-end close can become harder to manage as transaction volumes rise and reporting demands increase. Huel's experience highlights the pressure on businesses to tighten controls and reduce manual work without expanding back-office staff at the same pace as revenue growth.

"As a business, Huel moves incredibly quickly, so our finance processes need to move just as fast. FloQast gives us a clear view of what's completed, what needs reviewing and where risks might exist. It's improved accountability across the team and strengthened our confidence in the control environment. For me personally, I'm able to reclaim time that I just didn't have before.

"As a finance team, I genuinely believe we've always had the right people. But with FloQast, we now have the right tool to do the right work at the right time," said Kushal Malde, Head of Financial Control, Huel.

PwC UK said the implementation was completed within weeks and was designed to give Huel a system that could be introduced quickly while supporting continued expansion.

"Huel was looking for a solution that could be implemented quickly, scale with its ambitious growth plans, and free its finance team to focus on strategic priorities. With FloQast, we were able to move from kickoff to go-live in just weeks, delivering rapid time-to-value with minimal disruption. The result was greater efficiency, stronger controls and enhanced visibility across the finance function," said Matthew Wimpenny, Senior Manager, PwC.

Growth pressure

Huel is among a group of larger consumer brands seeking to modernise finance operations as growth stretches systems built around spreadsheets and manual sign-offs. In such cases, a shorter close can give management earlier access to financial information and reduce the administrative burden on accounting teams.

FloQast, which sells software for accounting workflow management and reconciliations, said Huel's case shows how finance departments are shifting more routine close work into automated systems. The company says thousands of accounting teams use its software globally.

"Huel is a strong example of how fast-growing businesses can modernise finance operations, accelerate critical processes and support the business in ways that weren't possible before," said John Phillips, General Manager of EMEA, FloQast.