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Finance – Non-Profit

Company Size & Timeframe

  • 50+ employees
  • 2-3 days/week, 10 months
  • Results

    • Reduced month-end close from 15 days to 9 days (average)
    • Eliminated high turnover
    • Contracts stayed within terms and met required budgets
  • Company Profile & Position

    • Part-Time CFO
  • Situation

    • Department was undergoing intense transition with 80% turnover
    • Role of senior finance executive was vacant for one year; currently backfilled by senior operations executive
    • Reporting took longer than it should, resulting in a perpetual close
    • Staff-designed processes resulted in lost time and resources; never achieving accuracy goal
    • Many accounting and reporting issues identified, but never resolved or fixed
  • Implementation

    • Reviewed processes and recommended improvements
    • Removed unnecessary complexity in accounting and finance operations
    • Simplified closing process
    • Staffed up mid-level accounting team
    • Designed monthly business review process with business segment owners to review implications of the numbers and proposed actions
    • Increased visibility on contract spending
    • Developed process to eliminate monthly reforecasting based on partial information; moved to a more robust quarterly reforecasting
    • Created an annual operating plan
    • Created financial recommendations package, including a longer-term plan for several software application changes
    • Implemented a weekly cash forecast
    • Removed structural errors in days cash on hand calculation and designed a new approach for improved accuracy
    • Worked with bank to increase services and generate investment income

Cerius Insights

“Cerius helped us find an interim for a non-profit within a week. We really enjoyed working with [the interim], and his services and expertise helped us out when we were in a pinch.”

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