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Interim Chief Financial Officer Private Equity Portfolio Company

by | Jul 20, 2022

Challenge

The Client, a Private Equity owned retail services organization, required an Interim CFO to manage the financial and operational functions, PE communications/requirements, banking covenants,  and improve the analytical function until a permanent replacement was identified without disrupting customers or operations.

Solution

Manage the current staff and current processes in the short term. Identify areas where increased analytics would provide additional insights to the financial and operational performance and profitability.

Implementation

Maintained current operations at agreed to levels. Implemented a Key Performance Indicator (KPI) Dashboard for the various product lines such as services performance, customer profitability and contract pricing in conjunction with the senior management group. Implemented monthly cross functional meetings to educate staff how their area of responsibility impacts other areas, “Connect the Dots”.

Results

Current operations were maintained at agreed to or greater levels. The Dashboard and other analysis provided Management the insight necessary to improve pricing/margin at the customer/service level and to change operating policies/procedures to be consistent across all product lines leading to increased profitability. Connect the Dots program successfully led to changes in processes resulting in reduced re-work, increased productivity and increased staff level involvement during forecast, budget, pricing and planning processes.

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About the Author

Bob Salem, MBA

Bob Salem, MBA

CFO Partner

Senior Finance Executive with extensive success driving sustainable revenue and profit growth through strategic control. Former CFO/SVP/VP/Director of Finance of Fortune 100, Private Equity, and Start-up organizations, ranging from $300K to $8.0 billion leading the accounting and financial operations; planning and analysis; risk and compliance; operations; and strategic planning.

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