Within a 12 month period, increased gross margin by 50%, leading to the company’s first profitable quarter
The Company: A staffing company
The Issue: Successive years of operational losses
The Work:
- Initiated and implemented a plan to increase gross margin and reduce operating cost
- Sped up financial reporting process, performing the year-end closing on time
- Hired a public accounting firm to conduct an annual Financial Review and file taxes on time; obtained R&D credit for prior 2 years
- Assisted in hiring an Interim CFO in India, where accounting and other support staff was located
- Successfully negotiated new financing agreement that would save the company on interest expense
