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CFO Services

CFO/Controller Consulting Services

Provide management consulting services for financial strategy, business plans and new product/service investments. Representative engagements are:

  • Saved 30% of the medical premium cost and $750,000 over 10 years by Implementing Company self insurance for a portion of the medical deductible
  • Increased cash flows by reducing DSO (days sales outstanding) 20% from 50 to 40 days by implementing the credit management module
  • Reduced workman compensation premiums 70% saving $350,000 over 10 years by changing the Company’s Labor and Industries rate classification to reflect the correct risk category
  • Developed and implemented incentive plan for all sales people resulting in 25% annual growth for 8 years
  • Enrolled Company in retrospective rating program with trade association for workman’s compensation insurance, saving $80,000 in premiums over ten years
  • Successfully negotiated with the State on a B & O tax audit resulting in the dismissal of a $36,000 liability
  • Upgraded 401K Plan administrators and saved Company $10,000 in fees. Helped promote the program throughout the company resulting in a portfolio of over $1MM in less than 5 years
  • Refinanced Company through leveraging long term assets resulting in a higher current ratio and decreased interest expense
  • Created detailed budget plan for Company, increasing accountability for expense spending, resulting in profitability improvement of more than 4% per year
  • Analyzed and collected $15,000 for incorrect billings from truck leasing company
  • Consolidated three payrolls into one and stopped paying hourly employees overtime for vacation, sick leave and holidays resulting in an estimated savings of $25,000 per year
  • Implemented fuel tax reporting for parent company’s nationwide fleet of trucks, working with 70 branches to solidify confidence in our IFTA (International Fuel Tax Act) reporting. Work was audited by outside auditors after three years verifying the fuel tax reporting was correct and resulted in a reduction of a $250,000 IFTA penalty from the Pennsylvania Department of Transportation
  • Prepared Balance sheet projections, Statements of Cash Flow and Income Statements for 9 subsidiaries and parent resulting in improved bank financing
  • Completed independent audit of revenue transactions for a public company’s audit committee, identifying deviations from software recognition standard SOP 97-2. Audit firm concurred with my analysis, resulting in a restatement of revenue for eight previous quarters
  • Led tier II distributor client through an independent ERP selection process, putting out an RFP to 20 software companies, leading demos at client for 3 finalists, resulting in a best fit for the client
  • Located source of Company losses in the manufacturing process resulting in price increases to customers and continued Company viability
  • Developed cost accounting reports to analyze material, labor and work order variances resulting in leveraging of vendors for better prices and improved manufacturing work flow
  • Created Disaster Recovery Plan which would allow Company to continue operations in case of a disaster
  • Implemented job cost reporting for R & D to contain costs on development of new products resulting in a profitable turnaround