Family-Owned Construction Company
CFO Systems was brought in to tackle a precarious financial situation, having helped the company with smaller financial issues in the past. Working closely with both leasing and bank partners, CFO Systems was able to fully fund the $3.5 million transaction within tight time constraints. Multiple funding options were produced for the equipment and creative credit enhancements suggested by CFO Systems helped solve an accounts receivable issue.
This financing allowed the company to continue its operations and avoid the discomfort of reorganization. All existing investor issues were resolved and all lenders were able to leave the transaction without suffering a loss, allowing our client to maintain the strong reputation it had built over its 25 years in the community.
Commercial Finance Company
A commercial finance company engaged CFO Systems to operate as both timeshare CFO and timeshare Controller. In a three-year period, CFO Systems quintupled the company’s assets from $20 million to $100 million. We also assisted the company in attracting more than $600 million in debt capital and more than $25 million in non-senior capital.
In addition, CFO Systems implemented routine financial reporting and analysis. We also designed and implemented a robust monthly forecasting model. By implementing these changes and working closely with the staff, we were able to shorten the audit time from more than four months to less than seven weeks.
Commercial Construction Company
CFO Systems operated as both interim Controller and timeshare CFO for a commercial construction company struggling with major cash flow problems. The incumbent CFO and General Manager were positioning the company to file for Chapter 11 bankruptcy protection, but the company’s owner was adamantly opposed to their strategy.
CFO Systems stepped in to support the owner. We communicated with creditors to develop payment plans and terms that allowed the company to meet its financial obligations without filing for Chapter 11. We also secured additional capital for the firm.
In addition, CFO Systems’ experts properly re-implemented the use of industry-specific software for financial purposes. This implementation enabled us to produce routine monthly financial reports and weekly job cost information, also allowing our client to track and manage expenses and cash flow with greater accuracy.
Specialty Medical Practice
Operating as the timeshare CFO, CFO Systems stepped in to assist a specialty medical practice that had dramatic cash flow issues. Many of these problems stemmed from the incorrect installation and use of an electronic medical records (EMR) system, which cut off all electronic billing procedures and brought the practice’s cash flow to a halt.
After thoroughly researching the issue, CFO Systems supervised the re-installation and repair of the EMR system so that it functioned properly. We then communicated with creditors to develop payment plans and terms so the practice could meet its financial obligations.
To simplify the practice’s operations, CFO Systems collapsed the excess number of legal entities involved. We introduced the staff to qualified tax CPAs and engaged their services. We secured additional capital to allow for facility expansion and additional bank financing to facilitate new growth.