Private Startup Company in Telecommunications
Services Provided - CFO
The company had no in-house financial expertise because it had all been outsourced. Still, it had managed to land a large contract in Mexico, and similar deals were in the works both in the U.S. and Mexico. It also managed to secure $10M+ from a private investor. There were no IT systems to handle any aspects of business including inventory, accounts receivable and payable, accounting, purchasing, sales orders, and customer relationship management (CRM).
To secure growth capital and implement new accounting, finance, financial modeling, IT, and business process systems to allow the company to grow both domestically and internationally.
Company received $4.75M in private equity funding and landed three new contracts worth $17M in cash flow using new financial models. New finance and accounting infrastructure enhanced the ability to understand revenues, costs, profitability, and joint-venture options.
To build an IT platform and systems that allowed the company to operate domestically and internationally with limited resources, time, and money.
New ERP/CRM system was successfully implemented in the U.S. and Mexico. Saved approximately $50K in implementation expenses versus a more standard approach. Saved an estimated $85K in annual operating costs. Significantly improved the company's ability to handle all aspects of operating a multinational business.
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