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Private Established Company in Homebuilding and
Land Development |
| Services Provided - CFO |
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Situation |
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A young homebuilding and land development company was experiencing significant growth and had been through three CFOs. There were no financial strategy and business processes in place, and accounting records were in disarray |
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Challenge |
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To assume the role of CFO and build the finance, accounting, and IT functions while managing fast-paced growth. This included developing and implementing policies, procedures, internal controls, and management reporting systems. |
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Actions |
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Implemented a workflow automation and management reporting system. |
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Created pro-formas and a variety of financial models for budgeting, cash management, profitability analysis, deal structure analysis, and operational metric analysis. |
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Spearheaded efforts to develop automated budgeting, forecasting, and performance tracking systems. |
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Redefined the organizational structure, clearly defined product line goals and business segment, and explicitly linked budgets to business objectives. |
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Impact |
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Significantly improved operations and productivity. Reduced overpayments, change orders, and cost overruns. Enhanced decision-making support systems. Revenues more than tripled from $11M to $45.5M within three years. Also increased net profit from a loss of $100K to a net profit of $8.5M. |
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