Case File: A CFO for a Growing Business
Case File
Need:
CFO support for a growing business
Service:
Part-time CFO
Industry:
IT Consulting
Situation: As Tech Networks of Boston (TNB) grew, so did its receivables balance and its need for senior level financial direction. Susan Labandibar, the IT company’s president, sought a seasoned CFO to provide executive perspective and oversight for the accounting department. She turned to AMS for a solution that would provide financial discipline as the business grew.
Response: AMS selected an experienced CFO to work with TNB one day each week. The CFO consultant focused immediately on tightening up the company’s billing procedures to reduce receivables exposure and then turned to value-added reporting and other controls and procedures. The consultant’s entrepreneurial background helped in setting priorities for the department and providing the information the management team needed most.
Results: Accounts receivables began to improve immediately and have stayed at very low levels. In addition, the CFO consultant has mentored and trained TNB’s internal accounting team, allowing a reduction in her own hours and bottom-line savings.
I needed a professional who I could count on to step in and take charge of our financial operations and raise warning flags when the situation demanded.
-- Susan Labandibar, President, Tech Networks of Boston
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