You turn to Accordion.
We step in as interim CFO and financial advisors — but two weeks into our engagement, COVID breaks out. Given your liquidity position, we immediately:
- Take over the treasury function, including building a 13-week cash flow forecast, managing payables, and accelerating collections, among other strategies to manage cash on a near-term basis.
- Successfully negotiate an amendment to the credit agreement to enable additional funding from stakeholders and relief on your covenants.
- Negotiate expanded covenants that allow for the accelerating growth.
- Develop a 5-year, three-statement financial model forecast that is used as an annual budgeting tool and is eventually leveraged by the equity holders to market the sale of the company.
- Address accounting issues of revenue recognition, complete the annual audit process, and reforecast annual results.
Your value is enhanced.
Your financial stability is improved, putting you in the position to thrive as the demand for your products and services soars during and after the pandemic. Our analyses and forecasts give the stakeholders more confidence in the current state of the business and future projected results. We successfully hire a permanent CFO and position your company for a successful transition to new PE owners.