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CFO Successfully Created Cash Acceleration
Client Overview
A global services business.
Deployed Capabilities
Transformation
Financial Advisory
$23MM Accelerated Cash Flow
Achieved cash acceleration of $23MM within one quarter.
10 Weeks
Surpassed CFO’s goal of cash acceleration within one quarter by completing the project in 10 weeks.
330% Performance Improvement
Knowledge was transferred in house, improving overall A/R performance 330%.
The
Challenge
Our client was experiencing delays in collections of account receivable that were negatively impacting business performance. To rectify the current state, the CFO set an ambitious goal to reduce DSO and improve cash flow within one quarter. There was a need to implement change and ensure it would be sustainable to provide enhanced cash flow from operations and improve overall business operations.
The
Custom
Solution
Our Financial Operations practice designed an executable program across 4 critical areas that would improve cash flow and reduce DSO. We determined root cause issues, business practices, workflows, data management, and behaviors in commercial contracting, field operations, invoicing, and collections that could result in improved cash flow. The successful change management initiative sustained enhanced cash flow from operations and improved overall business performance.
The
Impactful
Results
The project took 10 weeks and accelerated $23MM during this 10-week period. The knowledge of changes were transferred in house to our client, and they achieved a 330% improvement in the overall performance of accounts receivable with sustainable implementation. DSO was lowered from 112 days to 47 days.
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