Management Consulting
A part-time / virtual CFO enables the growth of a young enterprise
A Swiss scaleup in the watch industry with a strong growth potential has mainly focused its resources in the design of its products, and in the build-up of the marketing, manufacturing and supply chain activities. The accounting function was outsourced, and the company did not have the time or sufficient resources to develop a strong dedicated finance function. The company decided to contract a part-time / virtual CFO as an economic viable solution to build up the finance function and to enable the implementation of its strategic growth objectives.
Project scope:
- Diagnosis of the finance function and identification of the areas of improvement
- Implementation of cash flow reporting & forecasting, and funding requirements
- Implementation of management accounting information reporting
- Review of working capital positions, and identification of improvements to release capital
- Creation of business plan, equity story and marketing documentation for growth capital raising
Industry:
- Watch industry
Results and added value:
- Implementation of a reliable cash flow forecasting ensured proper planning of peak seasons
- Product profitability reporting supported the management decision to focus its resources on profitable products
- Implementation of a professional finance function increased the confidence towards its stakeholders
- Successful raise of the required growth capital
Geography:
- Switzerland