Company Size & Timeframe
- $15+ million in revenue
- 2-3 days/week, 8 months
Results
- 15% revenue increase
- Elimination of slow-selling SKUs; addition of other SKUs with greater sales
- More development of distribution channels
- Switched banks to obtain better services offering
- Adjusted strategic plan based on cost and budget
Company Profile & Position
- In business for more than 40 years
- CFO
Situation
- CEO sought 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
- Completed assessment, including a roadmap to move forward
- Created a benchmark report about industry and competitors to give company more direction
- Identified a niche in the marketplace
- Created a manual for financial processes
- Conducted monthly reporting analysis for channels, products and analytical schedules
- Adjusted financial statements to show the “why” behind the numbers and where improvement is needed
- Updated strategic plan to include financial consequences of different scenarios, leading to more informed decisions
- Negotiated with banks for better credit line
Cerius Insights – Customer Quote
‘Profit and Peace’ – That’s how one interim CFO for Cerius Executives summed up the role of a Chief Financial Officer (CFO.)