challenge

Our client, a manufacturer of aircraft parts owned by a private equity firm generating $40 million in annual revenue, encountered a critical situation. They urgently required a new controller but couldn’t risk disruption to essential financial operations and oversight during the transition. Compounding the issue, preparations for the company’s sale were already in progress.

Faced with these high-stakes challenges, the client sought assistance from Tecbeans, experts in executive leadership.

solution

From the outset, our primary task was addressing the client’s outdated ERP system, heavily reliant on Access queries and Excel links. This necessitated a thorough discovery phase as our initial step. Subsequently, we assumed responsibility for critical financial processes and management swiftly, allowing organizational leaders to prioritize vital business objectives, including an impending sale.

Key components of our comprehensive solution included:

• Assessing and ensuring the continuity of financial operations moving forward.
• Developing detailed monthly closing schedules and infrastructure, which were initially sparse in documentation.
• Documenting essential responsibilities of the controller’s role.
• Establishing new financial management processes while refining existing ones.

Throughout implementation, we identified and documented crucial processes, resulting in strengthened financial management controls for the future.

outcome

Tecbeans’ talent experts comprehensively addressed the client’s challenges from start to finish. Key achievements of the collaboration included:

• Successfully managing the client’s year-end financial audit within an accelerated timeline, initiated midway through the fourth quarter of the fiscal year.
• Assessing the client’s tax responsibilities and ensuring ongoing compliance.
• Developing a detailed controller’s desk manual that documented all procedures essential for month-end closings.

Are critical challenges currently impacting your organization? Experience firsthand how Tecbeans can swiftly mobilize resources and provide talent solutions with unmatched efficiency. Contact us today to learn more.