Manufacturing & Distribution
INDUSTRY
125
EMPLOYEES
$200M
ANNUAL REVENUE
Interim CFO Engagement
VIP SOLUTIONS CASE STUDY
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.
OBJECTIVES
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
SOLUTIONS
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
INCREASED EBITDA FROM 5% TO 6.5% IN 6 MONTHS
by increasing sales and implementing vendor bidding processes
