Impact of Forecasting by an Interim CFO – Interim Management Success Stories
The impact forecasting can make on a company
This article examines the impact of forecasting implemented by an interim CFO, 3-4 days a week for 3 months to help address some of the company’s challenges.
Company background
There was no reliance on the integrity of financials, reporting was not timely, sales forecasting was not accurate, internal systems were not suitable for this type of company, and they needed to restructure debt and raise additional capital.
Implementation of forecasting
To help address these concerns the Interim CFO successfully negotiated subordinated debt offering; redid financial forecasting models to add integrity so that they could be relied upon; set up new reports to allow VP of Sales to be able to do his job, and aligned purchasing with sales forecasting.
Results achieved
Through all this work the interim CFO was able to help the company achieve some impactful results. They closed subordinate debt in less than two months reducing existing LOC by 3%; debt restructuring saved the company $100,000 annually; they increased forecasting accuracy with less than 10% deviation, and improved cash flow forecasting and timely payables.
The CEO commented, “Now I don’t have to be embarrassed when I present financial numbers to outsiders, as I no longer need to make excuses for errors made in preparing financial projections.”
Cerius Executives is one of the largest North American providers of contract executives for part-time, temporary, interim and consulting assignments. These executives are available to step into companies on short notice, to fill a sudden gap in leadership, to run a key initiative which provides specialized skills and knowledge for a temporary period of time.
Cerius Executives is one of the largest North American providers of contract executives for part-time, temporary, interim and consulting assignments. These executives are available to step into companies on short notice, to fill a sudden gap in leadership, to run a key initiative which provides specialized skills and knowledge for temporary period of time. For more information on how a Cerius executive can impact your company, call us at 888-565-5289 or contact us at ceriusexecutives.com.
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