Executive Board Member: Interim/Contract

Providing interim CFO services

Challenge

This European distribution company faced high customer concentration/power and needed our expertise to safeguard its functional stability and objectives. They required our assessment of whether each team was fit for purpose; identification of improvement opportunities; and support with the annual/3Y planning cycle. 

Solution

We identified three phases required for business improvement. Phase One involved an immediate change in accounting processes to become more streamlined and yield enhanced data for ongoing growth. Phase Two saw the implementation of robust, company-wide staff training and team upskilling processes. And Phase Three, identified a new strategic go-to-market business model for later execution to establish a more future-ready company.

Results

After the implementation of each of the three phases, business processes significantly improved. We reduced headcount costs by 40% and established a more efficient tax structure. These cumulatively led to an immediate 90% reduction in overdue debt, driving a substantial one-time uplift in cash flow and a shortened cash flow cycle.