LM CFO Partners was engaged by a $30MM revenue company in the home and bath products industry. The client is a successful manufacturer of home products, selling branded pillows, blankets, and other household items to large retailers throughout the country. However, when it came to reporting on their financials and understanding what those reports meant, the client found that it was lacking in the financial information that would allow it to make informed decisions. LM CFO Partners worked closely with the company’s internal financial team to produce accurate monthly reporting, and educated the owners both on what the numbers meant and how to interpret those numbers to help improve operational efficiency. The CFO sits down with the owner on a monthly basis to review the turnover ratios and measure the liquidity of the company. With the implementation of the new monthly financials, the CFO was able to properly project various scenarios for the remainder of the year in order to determine the firm’s position and current cash flow needs. Additionally, the CFO implemented dashboarding on the business owners screen at all times allowing easy access to company’s information in real time, thus facilitating management decisions.
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