Interim CFO for Large Electronics Distributor
Requirement: Interim Management Services
The client is an Electronics Distributor that ships electronic components, wire cable, and data communication products all over the World. The company has grown to become one of the largest stocking distributors in Upstate New York, continuing to expand throughout the Eastern Seaboard, the Mid-Atlantic States and across Canada.
The organization recently lost their long term CFO who played an important role within in their Finance & Accounting Department. It was immediately recognized that without someone in this role the organization’s productivity and work life balance for other team members would be compromised.
The client contacted ProNexus in order to provide an interim CFO to maintain productivity in conjunction with the key activities and tasks as required by the CFO role and as directed by the owner.
ProNexus was engaged by the client to provide an interim CFO to cross train with the departing CFO. We were able to be hands on enough to run a small business which also included processing of payroll & health benefits, on boarding new employees, calculating commission payments, post month end batched journal entries and preparing financial statements.
After we reviewed their data processing system and recommended that they integrate a new A/P, A/R and general ledger module into their current system. Given the anticipated changes that would come about as a result of the new billing, accounts payable and general ledger modules, ProNexus was able to offer the client a solution that provided them with timely, accurate data and will eliminate a great deal of batch posting come month end.
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