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Industrial and consumer product goods company
The company was in need of major change in their financial leadership to move the organization forward. Many critical improvements were necessary for success. Their longstanding CFO was replaced, promoting a top performer from within the organization. The incoming CFO had intimate knowledge of the company, it’s culture, the existing problems, and the areas of improvement.
The challenge the company faced was how to reorganize the entire Finance department while maintaining current operations of the department, enhancing many functions, improving skills of the team, and providing more overall value to the organization.
When the time came to restructure, the company turned to our team. We proposed to solve the capability gap for the CFO by taking on key projects until the build-out of the team could be completed. Over a two-year span, our team completed critical projects in FP&A, tax, general accounting, and payroll.
Among the projects we accomplished was the conversion of the organization’s manual, home-grown payroll system to UltiPro to provide more automation functionality. Within the tax department our team helped to elevate the department from simply ensuring compliance to a department that focused on corporate tax provision and planning, with a focus on sales and use tax savings.
We provided our client the flexibility to take the time needed to find the right long-term professionals for each position. This strategy allowed our client’s CFO to focus their key resources on critical tasks, optimizing their value, and minimizing disruption of day-to-day operations.
In addition, by enhancing the payroll and tax teams and developing each from strictly internal overhead functions to value-add services, our efforts resulted in bottom line savings.
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