Financial Services

HAF provides a wide range of financial, analytical and accounting services to clients ranging from start-up enterprises and emerging growth companies to large national and multi-national corporations in the telecommunications, media and technology sector.

Our professional capabilities stem from a diverse range of financial as well as corporate backgrounds, and translate into practical and insightful advice. HAF’s financial experts can serve as interim senior executives, or simply help you manage the day-to-day programs and processes needed to run your finance organisation effectively and efficiently.

Whether you need to reengineer your business processes, build a streamlined financial reporting system, obtain an expert opinion on a merger or acquisition — or simply need to understand the opportunities to improve your decision making processes – we can help. HAF has established itself as an expert in telecommunications financial management consulting services, offering a full range of financial advisory services to clients, both nationally and internationally.

Auditing and Accounting

Our HAF professionals have successfully directed the implementation and management of a comprehensive financial infrastructure in numerous start-up enterprises. We have managed all accounting activities including the period-end close of the financial accounts, statutory financial reporting and external audit coordination and compliance.

We have been responsible for the reporting of company-wide financial and operating results to the executive boards and senior management teams of our clients. We have established and ensured compliance with proper accounting procedures and controls throughout the company while ensuring that all financial transactions, policies, and procedures met legal and regulatory requirements as well as internal corporate objectives.

Strategy & Budget Planning Integration

HAF offers insight and support for integrating the enterprises strategic plan with the organisational budgeting and planning processes. Our financial experts have assisted numerous clients in developing long-range financial plans, cash management plans and programs, and fiscal trend analyses.

HAF is recognised as an expert in the budget development process within the telecommunications, media and technology sector. We provide comprehensive operating and capital budget preparation as well as activity-based budgeting. Our consultants have experience in the development of multi-year operating and capital investment budgets as well as long-range financial planning.

HAF understands the nuances of creating a successful operating and investment budget and the demands of administering that budget. HAF utilises a proven methodology, specifically adapted to the industry, to efficiently and effectively assist our clients throughout the budgeting and planning process. HAF’s budget development methods and procedures have been designed to ensure the highest standards of quality control throughout the budgeting process. These methods and procedures include:

• Coordinate the development of proposed operating and capital budgets including the production of formal budget documents.
• Conduct complex revenue, expenditure and investment forecasts.
• Analyses high-priority complex departmental operating and capital budgets from initial budget submission and development to final acceptance and approval.
• Evaluates, projects and forecasts departmental budgetary and financial activity including analysis of variances related to budgeted levels.
• Coordinates the planning and programming of large-scale capital investment programs.
• Develops performance measurement systems and fiscal indicators.
• Prepares narrative and financial information required for development of the annual proposed operating and capital budgets.
• Monitors, evaluates and reviews organisational budgetary performance.

Over the course of the budget and planning process HAF works closely with senior business executives and operating managers in the planning, development and implementation of strategies to enhance the company’s ability to better manage its assets and resources. Our analysts help you establish an internal measurement program and benchmark against industry peers in terms of cost, productivity and quality.

Financial Systems

In today’s economy, you need to move forward quickly and confidently with application development and implementation. However, a company does not always have all the necessary skills in-house. HAF provides ready access to the expertise you need. Our consultants are experienced professionals who combine a solid technology foundation with an in-depth understanding of business processes.

At HAF we have managed the selection and implementation of a full range of accounting, reporting and management information systems. Our experienced staff enables us to support our clients throughout the system implementation life cycle, including:

• Pre-Acquisition/Acquisition – We begin by understanding the client’s business processes. We analyse existing systems, prepare cost/benefit analysis, develop acquisition options, and perform client specific requirements analysis.
• Acquisition – Includes preparation of Request For Proposal (RFP), preparation of technical evaluation plan/criteria, and preparation of test plans for operational capability demonstrations. The proposals from potential vendors are evaluated via a rigorous functional and technical review to ensure the proposed platforms are capable of supporting this client’s business and process requirements.
• Implementation – We provide Project Management support, assist suppliers and vendors in understanding the client’s requirements, assist with conversion planning and execution, and training the client’s personnel, analyse and test system generated reports, as well as, provide assistance with acceptance testing.
• Post Implementation – We provide ongoing functional support, perform analysis of new reporting requirements, analyse new releases and upgrades, and prepare and execute system tests for new releases and upgrades.

Throughout the entire process, HAF works alongside the client’s finance staff and management team to provide a comprehensive and effective financial management and reporting environment.

Fund Raising and Financing Advisory Services

HAF’s financial experts advise clients on the process of raising capital and the necessary equity or debt to accomplish the shareholders’ objectives and requirements. These typically include the need for:

• Acquisition Financing
• Start-up Financing
• Expansion Capital

As your advisor, we will:

• Recommend the optimum financing structure, taking into account the client’s historical and projected operating results, shareholder/management needs and investor requirements
• Assist in the preparation of requisite investor and/or institutional offering materials
• Assist in negotiating conditions to obtain commitments on material terms, including pricing, prepayments, covenant structure, etc.
• Oversee the subsequent phases of the process to assure a timely and successful completion of the transaction

Our fund raising advisory services cover a broad range of transactions including:

• Project Financing
• Private Equity
• IPO’s & Secondary Market

We strive to establish the most economically attractive and flexible financing structures consistent with current market conditions and management objectives. Above all, HAF endeavours to protect shareholder value, while allowing for maximum financial flexibility.

Interconnection Negotiation

Due to the continually evolving nature of the telecommunications regulatory environment, a thorough knowledge of interconnection issues has become a key factor for all operators. Interconnection agreements and the related regulatory environment are often complex and non-transparent. At the same time, the underlying technology is often not easily accessible for non-technicians. Ironically, it is often only a few people who understand interconnection and its related income and expense even though interconnection is a significant contributor to the ongoing value and viability of a telecommunications firm.

The global market for interconnection is in a continual process of change, partly due to new operators, mergers and acquisitions but also the development of new products and services along with evolving regulatory initiatives.

HAF can manage new negotiations and re-negotiate existing interconnection agreements with the incumbent dominant operator and other operators in the market. Typically, the procedure for the negotiation of commercial interconnection agreements will include:

• Examination and evaluation of existing agreements
• Strategic and economic evaluation
• Contract negotiation, including participation in all meetings with the regulator and other 3rd parties concerning legal and commercial matters

Based on the unique client requirements, HAF can assist with implementation of the interconnection agreements in the organisation including the internal coordination of all commercial and legal activities.

Interim Senior Financial Management

Finance and accounting are core functions of any firm. So, when a company has an unexpected vacancy in a financial position, or quickly needs a financial specialist, the problem must be resolved quickly.

HAF Consulting provides immediate, highly qualified financial executives, people with CFO and Controller-level experience, hands-on executives with strategic insights.

HAF can provide senior financial executives for special projects, or interim personnel to work several days a week or full-time while you search for a permanent employee.

Our financial executives have the skills and experience to serve as:

• CFO
• Controller
• Treasurer
• Senior Financial Analyst

Additionally, HAF provides direct access to a full complement of industry consultants across all business disciplines. This makes HAF a single point of contact to help our clients realise near-term results and exceed long-term business objectives.

Investor Relations

The need for a robust investor relations function is a critical component for companies, especially those that have numerous private equity investors. HAF’s finance experts are experienced in providing investor relations service to both public and private companies in an effort to help them reduce costs and achieve greater value.

HAF has provided its clients with comprehensive set of services aimed to facilitate communications with shareholders, potential investors and the financial markets. HAF’s investor relations experience includes corporate communications, media relations, market intelligence, analytical support, and corporate finance. In addition, HAF has managed the development and distribution of quarterly and annual reports to shareholders, investors and the public securities market.

Merger & Acquisition Valuation and Due Diligence

HAF’s merger and acquisition services span the entire spectrum of merger related activities. Our hands-on, results-oriented approach is both practical and cost effective as we appoint only seasoned professionals with real operating and strategic experience to each assignment.

Our services consist of the development of practical merger strategies to grow your business, the screening of potential acquisition or joint venture candidates for maximum value, performing due diligence to both value the prospective candidates and identify areas where the business can be improved to enhance that value. HAF will also perform these services for candidates within your portfolio that you may wish to divest.

Valuation

With over two decades of industry experience, our professionals have valued numerous telecommunications, media and technology companies, ranging from start-up enterprises to large corporations.

HAF provides valuation services to public and private companies, law firms, government and regulatory agencies. We excel in merger and acquisition consulting, with a special emphasis on business valuation.

Our professionals are experts in determining the value of an entire business, as well as its component assets and liabilities. We have significant expertise providing valuation services for:

• Public and private capital raising
• Formation of strategic relationships
• Mergers, acquisitions and divestitures
• Litigation and expert testimony

Our valuations are rigorous and thoroughly supported and are prepared by professionals with extensive experience in the telecommunications industry.

Due Diligence

Along with many collective years of experience in wired and wireless communications technology, HAF has a wealth of exposure to the issues faced by early stage technology companies. We provide a professional and reliable due diligence service, which allows investors to focus on the important aspects of finalising a transaction.

A typical assessment of an enterprise would involve looking closely at five key areas relating to its value and potential for success and growth:

• Business – What is the proposition and how well equipped are the management team to make it a success? How does the business operate and what processes will be used to develop the product and bring it to market?
• Technology – What is the technology? How innovative, unique and defensible is the technology? What needs does it meet and are there alternatives for the consumer?
• People – Who are the key people, what are their skills and experience? How will they contribute to the success of the company and it’s technology and how will they cope with the expansion resulting from the investment?
• Intellectual Property – What intellectual property does the company already own and in what form? How defensible is the technology?
• Competition – Are there other companies’ providing/developing such technology? Are there other companies/organisations capable of providing/developing such technology? Are there any other companies able to meet the same needs in a different way?

Our due diligence reports are tailored to the unique situation and can encompass consideration of:

• Human resources and key personnel
• Ownership of assets & intangibles
• Intellectual property
• Working capital requirements
• Analysis and validation of forecasts and projections

HAF Consulting has an extensive track record in telecoms finance, undertaking due diligence and business planning in support of:

• Debt and M&A transactions.
• Licensing processes on behalf of supporting and acquiring parties, as well as awarding parties.

Portfolio Analysis

Before any decision can be made regarding the potential investment in a business it is necessary to establish a sound commercial valuation of the target investment. While there is no single correct price for a business, there are however, a number of standard, tried and tested, approaches we have successfully applied to a wide range of businesses in order to provide our clients with the information required to make informed decisions.

An acquisition will normally occur as a strategic initiative, a financial investment or as part of a planned expansion. You may already have possible target businesses, or alternatively a search for a new target may be required. HAF will work closely with you to address the key issues, tailoring the exercise to suit your individual circumstances and requirements.

Our service consists of the following main areas:

Strategic Advice and Preliminary Overview

• We will review your overall objectives and provide you with our knowledge-based assessment
• We will look at the appropriate sector, financial climate and current market conditions
• We will develop a client specific action plan, encompassing timing, strategy and any other relevant planning details.

Target Search

• Even if you have specific targets in mind, we will undertake detailed research to provide a full overview of the market
• We will use our extensive contacts to identify businesses that may not be available elsewhere,
  If a specific business has already been identified, we will perform in-depth research in order to provide an initial assessment
• We will develop a short list of potential targets, and create an appropriate action plan

Detailed Evaluation

• We will make an initial confidential approach to selected target businesses, and collate responses
• We will evaluate each target, including operating and financial information, and current and future potential value
• We will construct a “short-list” of target investment opportunities

Post Transaction Support

• We work with our clients following completion of the transaction to ensure that all post acquisition issues are properly identified and implemented

Strategic and Financial Business Planning

Our approach to strategy formulation is unique as we balance the need for creative thinking with the need for practical solutions. We utilise an approach that maximises the time spent on insights, decision-making and action.

Our method is hands-on, fostering collaboration across a management team, and building the kind of consensus that leads to successful execution.

We employ scenario-based analytics to enable clients to forecast the future of their business under a variety of investment scenarios, and to choose the direction that best balances risks and returns.

We perform operational modelling to help ensure that the strategy can be fully implemented while taking into account cash flows and capital structure as well as traditional P&L projections.

Our strategic plans incorporate critical metrics for accountability and control. We help set precise targets for specific functions and departments, with forward-looking measures to increase predictability.

We help clients make a seamless link between strategy and execution. We specify the necessary operational improvement programs and actions to achieve the strategy and its specific financial and operational goals.

U.S. Security And Exchange Commission (SEC) Reporting And Compliance

The heightened interest in financial reporting and disclosure resulting from legislation and SEC rulemaking is causing an increased focus on the kinds and quality of Management’s Discussion and Analysis (MD&A) disclosures in SEC filings. Timeliness and accuracy of public information has been in the forefront of regulatory reform activity.

HAF is experienced in the preparation and submission of the statutory filing requirements of international firms that are trading in the U.S. public securities markets, including SEC form 20-F, the annual disclosure requirement for a foreign private issuer, and form 6-K, the current report for a foreign private issuer.