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.