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Quick-response financial triage

Company: 
Thirty-five person, ten-year-old company.

Situation / problem: 
Company was in desperate need of financial discipline. They operated for two years without making a profit or establishing a positive cash flow. 15% of company losses were a result of bad credit extension, company had no credit policy. Company management decided to undertake a major expansion in both personnel and equipment. They had no operational policies, and needed a new accounting system to manage the business operations.

Effort: 
Conduct a complete company review for the purpose of understanding workflow and discovering ways to streamline operations and production while developing a credit-scoring model. Management was committed to upgrading their entire computer system. This commitment allowed the creation of a comprehensive credit management system. The system tracked the credit underwriting process, imaged all documentation, credit scored all transactions and provided comprehensive management tracking reporting.

 

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Value: Real challenges being cost-effectively overcome - for twenty years.

 

 

 

 

 

 

 

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