Interim CFO: Turn-around

The situation

A technology services company recently went through a downsizing and restructuring. But it still foresaw very attractive growth opportunities. However, to realize those opportunities, it knew it would have to address several obstacles, namely:

• Limited management resources and an incomplete management team
• A lack of a strategic plan
• Poor legacy systems
• Merger integration issues, including non-integrated legacy systems
• No clear exit plan.

How our professionals helped

The CEO/Owner hired Chartworth to act as the interim CFO of the company. As interim CFO, our professionals first established a realistic strategic plan, then established finance and administrative processes, controls and other tools necessary to accommodate growth. With the insights gained, our professionals identified holes in the management team then represented the company in discussions to attract the right executives to address these weaknesses. But the company's problems weren't limited to human resources. So our professionals also drove the processes to address merger integration issues and cost-effectively upgrade the company's legacy systems. Finally, our professionals charted a "road map" toward potential exit opportunities.

The result

Chartworth established capabilities to enable this technology company to stand on its own. Today, the owner and executives can now focus on executing plans for profitable growth and a successful exit.