Case Studies



Accounting System Secured and Implemented

Provided oversight project management and assisted in the implementation of the accounting system of a $3 billion mortgage lender spin-off from a large national bank. The 13-month project required selection and implementation of an accounting system and loan origination system, including processes and procedures, vendor selection and vendor management needed to support the organization.
We also ensured that all controls were in place and that vendor interfaces were implemented with both the loan origination system and vendor accounts based on the accounting requirements prior to operational cut over.

Bank Ordered Financing Oversight

The client had just closed a significant SBA loan with a large, national bank. The bank recommended us as Part-Time CFO to implement controls, prepared and monitor cash flow forecasts, maintain the books and records, prepare the quarterly financial statements and work with the CPA for the annual review.
As such we managed the financial staff, provided oversight for implementation and transition to a new accounting system, implemented processes to streamline operations and created a fully functional cash flow forecasting model highlighting the profits of various service offerings.
The accounts were reported in a timely fashion to the bank to their satisfaction. The client was able to draw upon and increase a line of credit facility with the bank. The client was further able to attract a potential investor/partner to repay the bank loan and expand operations.

Product Profitability

The company was a software technology business listed on the FTSE exchange. We were engaged as interim CFO while the company transitioned their executive team.

• Developed a monthly management reporting package providing the key information and metrics needed by senior management and the Board of Directors for key decision making.
• Prepared a product profitability analysis of the various business lines. This highlighted further changes required to increase profitability.
• Implemented pricing disciplines to ensure Sales/Operations/Finance were aligned with new customer proposals and profitable accounts.
• Prepared a five-year forecast model which was used to attract investors and potential buyers for the business.

The company was able to turn around operations and re-launch the business based on its clients’ changing business models.

Global Pricing Model Developed

The company operated 70 contact centers in over 25 languages and dialects in the US, Canada, Asia Pacific, Europe and Latin America. Every operation priced business differently, and there was no corporate oversight.

Completed a global pricing model that was used to price the largest, most significant single client of the company. Secured buy-in from senior management and created a standardized pricing methodology for use throughout the worldwide operations. This was especially useful in evaluating new capital expenditure needs and allocation of resources to support the profitable business.

Bank Credit Line Secured

Recommended the company secure a Bank Line of Credit at a time when it was flush with cash. No line of credit was in place and senior management did not see the need for it. The cost of maintaining a line was considered unnecessary. Senior management reluctantly agreed to secured a line of credit for $12 million without having to encumber its patented technology.
Within two years, the company saw its cash decrease and accessed the line. Senior management was very appreciative to have the facility. It was further increased to $22 million.

Internal Processes Revamped & Improved

Many businesses take a good part of the following month to close the books. It is then that management learns what went well and what may need corrective action. At Avenue CFO we have helped several businesses reduce the time it takes to close the books from as much as 15 days (3 weeks) to 5 business days or one week.

The financial teams and management were satisfied and could now focus efforts to support the business. The projects were further extended to create an executive dashboard with operating metrics. In one instance we helped create a shared service environment to process all payables, receivables, fixed assets and payroll, which further improved internal controls. These actions also alleviated processes required at the operating level and reduced the overall cost structure.

Financial Turnaround Leading to a Re-sale

A private equity firm engaged Avenue CFO Services to assist in its turnaround efforts and position its portfolio company for growth and ultimate sale. We were engaged as interim CFO. We took the lead financial role and managed the books and records, implemented financial controls, met with the auditors and restated financial results. Worked with the Board of Directors and Private Equity firm to evaluate current senior management personnel and hire talent as needed.

While engaged, we secured a new debt facility, create a detailed financial forecast, flash reports, a weekly dashboard, processes, and procedures. The company was later sold by the PE firm which achieved the return it desired.

Financial Pitch Delivered to Key Investors

Engaged as Interim CFO to work directly with the CEO and investment banker to position the operation for sale, create a forecast model for the businesses and help market the business.
Created the financial pitch of the business, preparing statistics and ways that demonstrated the profitability and future potential of various potential investors/buyers. The business was sold to three separate buyers. Helped to transition the three business operations to the successful buyers.