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CFO – Business Services

Company Size & Timeframe

  • 5 days/week, 5 months
  • Results

    • Fixed balance sheet issues and finished purchase accounting within first month
    • Reduced past due receivables from over 50% to less than 10% in two months
    • Shortened monthly close cycle from 7 days to less than 5.5 days
    • Reduced staff by one person
    • Improved reporting to require only one submission to global finance
  • Company Profile & Position

    • Mid-market
    • Interim CFO
  • Situation

    • Prior CFO was removed under difficult circumstances
    • Inadequate cash flow for growth
    • Unreliable reporting
    • Weak financial management, unable to pay vendors
    • Department was not meeting financial deadlines
    • Lack of communication with rest of the organization
  • Implementation

    • Established credibility with global finance organization
    • Collected receivables from past due customers
    • Set regular meetings with finance staff and global team
    • Developed standards that defined finance processes
    • Improved closing cycle by more than 20%

Cerius Insights

Profit and peace best sum up the role of a CFO.

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