A highly profitable privately held company with excellent cash flow was unable to generate the financial statements and management reports essential to the CEO/owner to manage and grow the business. Even though the Company had an internal accounting department, its staff lacked the technical expertise needed to produce timely and actionable financial reports.
Approach & Solution
The company engaged one of our firm’s partners to act as Chief Financial Officer (CFO). This senior member of our team guided the client’s accounting department in the production of financial reports essential to the CEO that he could rely on. The acting CFO also conducted weekly sessions with the owner and met regularly with certain members of top management to assist in analyzing and understanding the various reports. Hart Vida & Partners became a trusted financial partner, strengthening the accounting department’s skills. We enabled the Company’s leadership team to develop strategies that not only safeguard business assets, but also translate to continued growth.