Interim CFO Case Study – UK, USA, Russia
Business Review & Transformation, Business Process Re-Engineering, Accounting & Finance Management.
After being appointed as Interim CFO for a well known FTSE 250 company, Jatish quickly identified and implemented changes to its standard costing methodologies, which led to reductions in supplier costs and improved operating margins. Further changes were made to supply chain processes, improving manufacturing timeframes, stock handling and stock management – these measures had an immediate impact on margins.
These actions highlighted additional issues concerning internal controls, outdated policies and procedures and deficiencies in the senior financial management and accounting people and processes. Utilising Jatish’s experience, another Divison invited Jatish to work on updating the Company’s accounting manual for all the manufacturing international operations.
Jatish was instrumental in identifying improper business processes, accounting errors, and delays in monthly, and annual reporting for both Internal management and for outside stakeholders; his actions resulted in improved audit processes and the elimination of ‘qualified’ audit opinions in several of its largest international divisions.
Furthermore, Jatish was tasked with recruiting and training 2 regional CFO’s and several financial controllers to further strengthen the finance functions and lead to additional improvements in reporting and analysis.