Interim CFO: Rapid Growth

The situation

A technology company that survived the tech downturn—yet never formally established its finance function—was still faced with rapid growth opportunities but did not have adequate systems, controls and processes and financial capital to accommodate new growth.

To address these issues, the company hired Chartworth to be its interim CFO.

How our professionals helped

Chartworth quickly assessed the company’s short-term and long-term finance and business process needs. Our professionals established finance and administrative processes, controls, and other tools necessary to accommodate growth. Our professionals also created the proposal to restructure the bank credit facility to more favorable terms and represented the client in negotiations with bankers.

To accommodate and encourage growth, our professionals established a compensation plan that ties individual sales goals to company-wide revenue growth and profitability targets. And our professionals drove the implementation of information systems to leverage company data in disparate databases. Finally, our professionals charted a “road map” toward potential exit opportunities.

The result

Today, the company is on more stable financial and administrative footing and is in position to take advantage of the growth opportunities it earned by surviving the recent business down turn. It also now has a clear path toward potential exit opportunities. By stepping in on an interim basis, our professionals were able to create a sense of calm and confidence among the finance and executive staff, as they now know they have the right processes and resources to achieve their goals.