Finance (CFO)

CFO - Finance

Finance (CFO)

10%
Increased sales forecasting accuracy within 10%
3 Months
Improved cash forecasting
3%
Reduced LOC interest
100k
Initial annual savings
Now I don’t have to be embarrassed when I present financial numbers to outsiders as I no longer need to make excuses for errors made in preparing financial projections.
Company Profile
International distribution
Family owned
$12 million in revenues
Position/Timeframe
Interim CFO
3-4 days/week, 3 months
Situation
No reliance on integrity of financials
Reporting was not timely
Sales forecasting was not accurate
Internal systems not suitable for type of company
Needed to restructure debt and raise additional capital
Implementation
Successfully negotiated subordinate debt offering
Redid financial forecasting models to add integrity to models so they could be relied upon
Set up new reports to allow VP of Sales to be able to do his job
Aligned purchasing with sales forecasts

Results

  • Closed subordinated debt in less than two months reducing existing LOC by 3%
  • Debt restructuring saved company $100k annually
  • Increased forecasting accuracy with less than 10% deviation
  • Improved cash flow forecasting and timely payables