Client Results

Private Established Company in Manufacturing and Distribution

Services Provided - Controller and CFO

Situation

A $3B privately held metals processing company was not realizing the benefits of a $70M manufacturing and distribution acquisition due to lack of IT systems integration.

Challenge

To ensure a seamless transition of all accounting, finance, budgeting, forecasting, and management reporting with no interruptions in related deliverables. To lead and manage the accounting team and assume the duties of the existing CFO who was promoted to vice president.

Actions

  • Built rapport with the existing controller, created a team atmosphere, and won the respect of all senior executives and subordinates.
  • Created a strategy game plan and earned the CFO's buy-in.
  • Improved processes and procedures.
  • Partnered with Price-Waterhouse Coopers in a critical external audit.
  • Provided timely and reliable management reporting to senior executives at both the subsidiary and parent companies.
  • Restructured and recreated a budgeting model to improve processes, allow for easy modification, provide superior reporting analytics, and integrate with the existing software system.

Impact

Successful migration of financial and accounting systems to the parent company resulted in desired business transformation. Saved parent $1M+ per year, improved reporting and decision support systems, and facilitated the launch of new product lines.

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