Company Size & Timeframe

  • $25 million in revenue
  • 1-2 days/week, 24 months
  • Interim CIO also in place for 1 day/week, 10 months

Results

  • Successful sale of company with credible finances
  • Maximized cash proceeds at sale to owner due to projections and planning
  • Savings in insurance reductions and IT costs
  • Successful banking relationship throughout assignment, with $1 million LOC increase

Company Profile & Position

  • Family-owned
  • Interim CFO
Results services
Results services

Situation

  • Bank would not renew LOC, was requiring owner assets
  • Finances were not credible for banking or exit purposes
  • No budget going into busy season
  • No reporting or processes in place
  • Limited bandwidth for owners and executive team

Implementation

  • Created interactive cash flow budgeting model
  • Determined annual and monthly break-even sales volume to interact with model for real-time decision-making
  • Created job costing, which enabled better staffing decisions
  • Provided references for risk manager and insurance broker who favorably resolved insurance losses
  • Hired full-time Controller for everyday management

See what Cerius can do for you.

Cerius Insights – Customer Quote

 

“Both CFO and CIO had great backgrounds, great professional experience and were very easy to work with. No hand holding, very professional and really had a goal and got it done.”