Case Studies - Interim Resource
Interim Resource Buys Time for Reorganization
A $70 million division of a private equity owned multinational manufacturing conglomerate in the heat transfer business needed help in the accounting area.
- Controller had retired and corporate did not what to replace the position immediately as they were considering some reorganization options.
- Plans were in place for Corporate to handle several accounting duties that had been handled at the division level.
- The Assistant controller had never dealt with Personal Property and Real Estate Taxes, complicated by the far flung operations.
- Corporate wanted an existing Assistant Controller / Cost Analyst to take on the additional duties.
- Introduced an experienced manufacturing controller who had a good understanding of accounting processes as they related to the shop floor.
- Initially served as the assistant controller’s right hand.
- Eventually took over responsibility for RE & PP Tax, commissions, key account reconciliations and the monthly scrap analysis.
- Started a 40 hours per week and as things were streamlined and the reorganizations implemented the time dropped to 16 hours per week.
- Using knowledge of the PP tax exemption for manufacturing equipment saved $46,000 in taxes on one major piece of equipment.
What this meant to company
- Provided a bridge to allow for the corporate reorganization to be implemented.
- Provided a smooth transition from the former controller to one eventually hired.
- Provided flexibility to take on a variety of responsibilities as 3 positions were eliminated due to the reorganization.
The value of a LauberCFO Interim Resource
- Supported by a firm of experienced CFOs dedicated to serving the unique needs of each client.
- Resources screened to ensure a match with the clients unique needs.
- A willingness and ability to jump in and be productive from day one.
- Back-up support to cover unforeseen circumstances.