Job Description
On the recommendation of a key-funder Greenwell Gleeson is working with a small privately small enterprise that provides niche parts to its manufacturing customers. The owners have carved out a space in the market that sources hard to get hold off parts that will ensure their customers do not experience downtime in their manufacturing process.
The owners acknowledge they have made operational mistakes when it comes to manging their working capital, covering the usual suspects of stock levels, slow-moving stock, credit terms and cash collection. Whilst still profitable the issues has resulted in a short-term cash strain on the enterprise. The concerns of the funder have been amplified by a Finance Controller (who has recently left the business) missing key reporting requirements to the funder and when information was provided shock disclosure on its short-term financial stress.
Success has been defined to include the following:
* Immediately start the process to support the owners to restore confidence of the funders in the enterprise.
* Deliver accurate cash-flow projection for the 1 month, 3 month and 6 months
* Hands-on action to improve the cash generation / balance sheet of the enterprise
* Work with the owners to review any processes/policies that impact on working capital requirements. Take action to improve policies & processes
* Support the bookkeeper to produce accurate accounts that can be used by the interim to produce information on profitability and cash flows.
* Ultimately restore a long-term healthy relationship with the funder.
At present it is envisaged all of the above can be achieved working c1 day a week for a period, with the expectation that it could be a long-term arrangement.
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