Growth Services, Interim Management with Cash Flow Emphasis
Description of Client Company: Specialty waste disposal company experiencing high growthSituation as described by Company management:
- The audit was “taking too long” and the current CFO was not suitable for the assignment.
- General consulting by management and private equity group
- Upon walking in the door, President requested attendance at meeting discussing new software.
- Current CFO did not have the background required for job.
- Cash flow was a growing issue despite cash in advance for delivery of service and management did not fully understand why cash flow was an issue.
- Complicated business with inadequate financial statements for management purposes
- Assumed Acting CFO role
- Managed cash flow
- Redesigned financial reporting to reflect the activities of each business activity with transfer pricing between teams to recognize contribution of each team and for improved contract negotiations. President said “if we do this, everyone will know what’s going on”.
- Developed understanding of the nature of the cash flow and trained the management team in its use
- Located and Hired new CFO