We’re looking for an ambitious and highly analytical Finance Intern to help us improve our internal processes and ensure our suppliers are paid on time
At Thread, we’re helping people to feel happier and more self-confident by making it easy to dress well. We do this using a combination of human stylists and powerful machine learning algorithms to recommend each guy the perfect things just for them—in their size, budget, and style—which they can then buy in one place. Most guys want to look good but don't particularly enjoy shopping, so we believe if we get this right we can create the new default for how hundreds of millions of people across the world buy their clothes.
After being founded in 2012 we’ve grown to 600,000+ men in the UK using the service. We're backed by a collection of the top institutional and angel investors in London, New York and Silicon Valley. The founders are experienced entrepreneurs who have built multiple companies with millions of users.
At Thread our ambition is to build a lean finance function that makes use of modern advances in technology to automate traditionally manual processes. Currently we’re outsourcing our bookkeeping to a third party which works closely with the Head of Finance. We’ve grown rapidly, and now we’re processing around 200 invoices a week across over ~150 suppliers. Despite the use of image recognition software the associated workload is preventing us from further streamlining processes to increase efficiencies.
Reporting directly into the Head of Finance, you’ll work closely with the Operations and Commercial teams to improve our invoice and supplier management. You’ll learn how to use our accounting package Xero and work very closely with iHorizon, our bookkeeping partners to drive process improvement that helps us scale rapidly.
We’re looking for someone to work 3 days a week. Exact timeline is flexible but we’re looking for someone who can start right away and join for at least a 3 month period. This position is based in our office in Aldgate.
You’ll be responsible for:
- Reviewing invoices weekly to ensure the image recognition software has correctly captured relevant information
- Reconciling supplier statements monthly and suggesting process improvements to minimise the quantity of invoices paid after their due date
- Populating our finance package with required supplier data (contact emails, payment terms, etc) to enable automated payment information
- Answering supplier’s billing queries and help identify processes to reduce the number of inbound queries
- Working with the Head of Finance to design a better process to check for and prevent duplicate invoice payments
- Working with our banking partners to automate the process of making payments directly from our accounting package (Xero)
- Working with the Head of Finance to design a better process to automate the reconciliation of goods delivered to the invoices received
- Launching a new expense card solution to the wider business and making sure that we’re capturing the VAT receipts we require to maximise our VAT payments
- Supporting the Head of Finance when you have spare capacity with other key projects
Are you the one? You are, if you:
- Are excited about beginning a career in finance
- Have a relevant degree in a financial or analytical subject
- Are always looking for way to improve and streamline processes
- Are highly analytical and default to using data for decision making
- Are proactive in your communication, making sure your colleagues always know what’s going on
- Want to help build a cutting edge finance team based on increased automation
- Have an interest in fashion
- Your work will help millions of people to feel happier and more confident about themselves
- The opportunity to become recognised as one of the best in your field through being a core operator for a high-profile startup
- The chance to solve hard problems in a fast growing business, providing an unrivalled opportunity to develop your skillset
- Be part of a values-led team that are working hard to create one of the highest quality cultures in the world. Learn more about how we’re doing this in our culture deck
- Gain first-hand experience of how to start, grow, market and raise funding for startups (perhaps useful for your own company one day)
- Free team lunches four times a week, drinks and snacks together as a company on Fridays, monthly company trips to fun things like comedy shows, choose your own work equipment, unlimited vacation time
- A competitive salary
If this sounds exciting and you’d like to learn more, please get in touch below and tell us why you want to work at Thread.