Case Study
Interim CFO Engagement
Manufacturing & Distribution
INDUSTRY
125
EMPLOYEES
$200M
ANNUAL REVENUE
Background
Our client needed an interim solution when their CFO provided their 2-week notice. We immediately deployed a resource to assume responsibilities and enhance processes.
Objective
- Learn company accounting, processes and procedures, operations, sales, and company culture. Immediately assume responsibilities
- Catch up past-due accounting and reconcile and review prior reconciliations
- Assure remaining staff and company personnel that companies are solid, stable, and will continue growth and profitability
Solution
- Quickly assessed strengths and weaknesses of current staff, processes, and procedures
- Defined reporting requirements and ensured accuracy and timeliness of reporting
- Collaborated with lenders, attorneys, owners, board, president, operations, sales, and human resources to ensure collaborative environment and flow of information and ability to address company risk
- Provided key insights into strategic plans and key performance indicators
- Defined key job responsibilities and the characteristics desired in hiring a new permanent CFO
Assumed CFO responsibilities and
INCREASED EBITDA FROM 5% TO 6.5% IN 6 MONTHS
by increasing sales and implementing vendor bidding processes
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