Finance (CFO)

CFO - Finance

Finance (CFO)

15%
Revenue increase
Better
service offerings from bank
Reduced
non-selling SKU’s, replaced with better selling SKU’s meeting marketplace demand
Cerius Insights: 'Profit, and Peace' - That’s how one interim CFO for Cerius Executives summed up the role of a Chief Financial Officer (CFO.)
Company Profile
Educational materials
In business for more than 40 years
$15+ million in revenues
Position/Timeframe
CFO
2-3 days/week, 8 months
Situation
CEO looking for help with internal management information and overall assessment of areas for improvement
During economic downturn, sales dropped 30+%
Cost cutting was painful
Banking concerns
Implementation
Assessment completed including a road map to move forward
Bench mark report about industry and competitors giving company more direction
Identified a niche in the marketplace
Created manual for financial processes
Monthly reporting analysis for channels, products and analytical schedules
Adjusted financial statements to show the “why” behind the numbers and where improvement is needed
Strategic plan included financial consequences to include different scenarios and make more informed decisions
Negotiated with banks for better credit line

Results

  • Revenue increase up to 15%
  • Elimination of slow selling SKU’s, adding SKU’s in other areas with greater sales
  • More development of channels of distribution
  • Changed bank for better services offering
  • Strategic plan adjusted based on cost and budget