Vollertsen Consulting Group, LLC acted as the company's Interim CFO to assist the Accounting Manager and CEO consolidate and prepare the annual plan the former CFO started, and to recommend changes as needed. Upon arrival, we began by assessing how much of the plan had already been completed by the former CFO to determine what gaps were not captured. Next, Vollertsen Consulting Group, LLC collaborated with the Accounting Manager and Department Heads to roll-up an initial review for the CEO. Upon review, we put forth recommendations to balance the plan. Our consultant then worked with the CEO to pull together the presentation for final review by the Finance Committee and Board of Directors. Once the plan was approved, we assisted the Accounting Manager in loading the plan into the client's MIP financial system.
Vollertsen Consulting Group, LLC was engaged to find $1 million of pricing opportunities for one of the company's Sales Regions. Initially, we extracted data out of the company's ERP system to determine gross profit at the item level and immediately raised prices on all items selling at a loss. Next, we collaborated with sales and performed a market survey outlining the competitive landscape in individual markets and retail locations on all high volume priority brands. Once we collected market data, we ensured that pricing aligned with the overall brand strategy relative to the competitive set for each brand. After assessing brand alignment, we looked at items where demand exceeded supply constraints. Upon completion of the steps outlined above, we compiled a list of recommendations based on breakeven analysis with risk assessment and implemented the price moves.
Vollertsen Consulting Group, LLC was engaged to fill an Interim Manager of Accounting, Financial Reporting & Hotel Controller role until a permanent candidate could be hired. The primary responsibilities were to provide direction and oversight to the finance team, ensure financials were reported accurately and timely, file monthly state taxes and quarterly occupancy taxes, coordinate the preparation of the annual budget, and ensure a smooth transition to the permanent candidate. In addition to meeting the project deliverables we were also able streamline the financial reporting cycle time by 80% freeing up the finance team to focus more on analytics versus data manipulation, clean up line item details within the ERP system to be more detailed and insightful, developed a forecasting tool which enabled the management team to make forward-looking decisions to close out the fiscal year and have a solid foundation for the annual planning cycle, and created a management tool that enabled 20% revenue growth in a new demand segment.
Vollertsen Consulting Group, LLC was engaged to assist a hedge fund company conduct and validate market research in the beverage alcohol industry. The scope of the project was to validate current market trends across the beer, wine and spirits segments, identify market leaders and dive into the financial performance of specific companies within the industry. As a result of the research, the hedge fund company was able to evaluate the analytics provided by Vollertsen Consulting Group, LLC to make informative investments on behalf of its clients.
Vollertsen Consulting Group, LLC was engaged to assist a company to do an assessment for a potential M&A opportunity. The primary focus was to determine if the parent company could grow the acquired company at a faster trajectory in volume and revenue under new management, as well as, determine a fair multiple to secure the sale. During the preliminary assessment, Vollertsen Consulting Group, LLC determined that the cash investment needed to maintain current operations and investments needed to develop new products would not drive a positive ROI for the acquiring company.
Vollertsen Consulting Group, LLC was engaged to improve monthly reporting for the company's marketing and SG&A spend, in addition, to provide the Senior Leadership Team with an understanding of variance drivers. The objective was to generate an accurate, repeatable reporting package and improve the reporting cycle by 50%. We started off by gathering information to understand who was accountable for the various areas of spend; so those leaders would have a clear understanding of how they were performing versus plan. Next, we built an excel based reporting structure that interfaced with the company's Hyperion reporting system. As an enhancement, we also tied in the detailed general ledger line items from their JD Edwards Insights system allowing for a deeper understanding of the variance drivers. As a result, the Finance team was able to leverage the final reporting package to understand the budget and forecast variance drivers throughout the monthly close process and analyze missing expenses which would need to be accrued in accordance with GAAP. This new process reduced the cycle time from hours of data manipulation post close to minutes and utilization throughout the close process.
Vollertsen Consulting Group, LLC was engaged to assist the CFO in calculating standards for the coming fiscal year, in addition to developing a new managerial reporting package. Upon arrival, we began with an overview of the company, it's ERP and costing systems and overall budget for the fiscal year. Throughout the standard costing process, we put forth recommendations on best practices. Upon completion of establishing the standards, we developed an automated managerial reporting package to assess monthly and year-to-date actuals versus budget. We also developed and implemented analytical tools to monitor trends which provide insights enabling action to be taken as costs get out of line. Lastly, we did an assessment of customer profitability and put forth recommendations on how to improve margins by addressing low-value customers and rethinking the company’s pricing strategy.
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