Interim CFO optimizes cash flow, investor reporting and toolstack
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Interim CFO with focus on cash management and investor reporting, including interim accounting and controlling support
Use cases
Monthly financial reporting
Cash management and forecasting
Cash pooling
Burdget planning 2024
Group Accounting and Audit Support
Bookkeeping in NetSuite
Tooling
Team leader
"Thanks to torq.partners' interim CFO Alina Nauen, we were able to optimize our cash flow, improve our investor reporting and update our tool stack, among other things. I can recommend torq.partners without hesitation to any company looking for support in the area of finance."
Dieter Weißhaar
CEO
Challenges
There was no CFO in the company.
There was a lack of resources in the finance department. (Controlling, Accounting, Group Accounting)
Investor relations had potential for improvement.
Cash forecasts were inaccurate and cash management lacked flexibility.
The deadlines for the audit of the annual financial statements were not met.
There were consolidation problems in LucaNet.
Travel and expenses were managed manually.
Solution
Monthly financial reporting including preparation of documents and presentation to the Supervisory Board
P&L forecasting (base, best, worst case)
Monthly and quarterly bank reports
Simplification of management reporting for OpCos
Establishment of a multinational cash pool
Cash forecast modeling
Consolidation of bank accounts
RCF negotiations and conclusion with the bank
Completion of the 2024 budget by November 2023
LucaNet reporting and IC consolidation
Design and implementation of accounting guidelines
Accounting for four international entities in NetSuite
Supporting the Group Accounting function in the successful pre- and year-end audit for 2023
Feedback cycles and targets for the internal team
Impact
The deployment of our interim CFO stabilized the liquidity situation at the end of 2023 and enabled the implementation of a reliable cash forecast model.
It introduced a cash pool for flexible cash management.
Our interim CFO finalized the budget for 2024 on time.
The team successfully completed the preliminary audit for 2023 and the annual audit.
It improved the tool stack to increase efficiency.
The appointed interim CFO recruited the internal team and ensured a successful handover.
