Service Area: Human Capital
Client Type: Private Equity Firm
Service Provider Type: Interim CFO
Industry: Professional Services
When the CFO of an investigations and due-diligence firm resigned unexpectedly, the PE sponsor needed an interim leader within two weeks. The role demanded experience in professional-services finance, the ability to lead a 16-person global team and the know-how to implement 13-week cash-flow forecasting ahead of a planned exit.
The finance group spanned three continents, working in Salesforce, Aderant, ADP and specialized case-management systems. The new interim CFO had to ensure seamless month-end close, quality MD&A reporting and cash-flow visibility while providing onsite leadership in Manhattan three to four days a week.
BluWave tapped its network to introduce multiple interim CFO candidates with deep law-firm and consulting backgrounds – each skilled in Aderant, global cash management and 13-week forecasting. The client chose the best fit and secured a two-week overlap with the outgoing CFO to guarantee knowledge transfer.
The selected interim CFO immediately assumed oversight of month-end close, unified multiple QuickBooks Online datasets into consolidated statements and instituted a rolling 13-week cash-flow model. He also decreased the time to close books from 35 days to 14. With clear dashboards and disciplined controls, the finance team operated smoothly, giving leadership and lenders confidence while the search for a permanent CFO progressed.
When the interim CFO started they were closing the books 35 days after period end. He moved that to 14 days. He brought good process and discipline around the process to identify and address long poles. He did all of the blocking and tackling needed. We would bring him on again and were glad to have him on the engagement.
-Managing Director at PE Firm
