Technology company needs new finance leadership to stabilize operations and improve performance​

Picture this...

You’re a cloud and managed hosting provider with 14 data centers worldwide, but you’ve breached covenants in your credit facility and forbearance negotiations with your first and second lien lenders have ensued. You need help stabilizing performance.​

You turn to Accordion.

Serving as interim CFO, we get right to work:​

• Leading your management team through the completion of a two-scenario budget process: (a) realistic and obtainable, to rebuild credibility, and (b) dynamic and instructive, to serve as the primary tool for determining the reorganization needs of the company. ​
• Identifying the need to generate $6M in incremental annual EBITDA to satisfy debt requirements and negotiate an exit from forbearance. ​
• Assessing the business, identifying savings opportunities including personnel reductions, negotiating new contracts, consolidating office locations, implementing monitoring tools and taxation software, and reducing poorly performing marketing initiatives. ​
• Implementing revised KPIs and providing visibility into actionable metrics.​
• Leading the integration of the finance department back into a sales-led organization to ensure fiscal and contract discipline.

Your value is enhanced.

You stabilize your financial operations, revise budgets and business plans, and drive improved EBITDA from a last-month annualized run rate (LMA) of $9.3M to $14.5M, all in less than six months. With the turnaround well underway, you successfully recruit an industry veteran to serve as your permanent CFO.