The Company
Industry: Transportation + Logistics
Entity Type: Privately Owned
Operating Region: Southern California
Size: $50M
The PROBLEM
The company was experiencing growing pains and needed to professionalize their people, processes, and systems to support expansion across the West Coast. The Director of Finance was not meeting expectations, leading to critical issues such as missed payments, delayed commissions, and overall loss of confidence in leadership. The company needed an interim CFO to conduct a full assessment, build a roadmap for transformation, and address immediate operational challenges.
The Solution
McDermott + Bull Interim Leaders deployed an executive leader in finance, accounting, and operations, with over 36 years of experience in finance and operations. The interim CFO was a former licensed CPA with an MBA from USC, bringing extensive expertise to the role.
The RESULT
The interim leader realigned one of the accounting teams, reassigning roles, clarifying responsibilities, adjusting reporting structures, and establishing basic accounting procedures. They successfully implemented consistent cash flow management processes, ensuring liquidity and financial stability for the organization. Additionally, they cleaned up and prepared financial statements for presentation to the bank for review.
Sage Intacct Implementation and Credit Line
Assisted in completing the Sage Intacct implementation, improving financial reporting accuracy, efficiency, and scalability, all while securing a $1M line of credit.
Year-End Financial Closure and Operational Improvements
Closed the books for 2023, completed the financial statement, and identified past accounting errors, leading to improved financial accuracy and reliability.
2024 Financial Planning
Began preparations for the company’s first-quarter 2024 financial statement and developed a cash flow analysis and high-level forecast for 2024-2025.
Mark McConnell
Senior Managing Director, McDermott + Bull Interim Leaders
mcconnell@mbexec.com
Mark McConnell serves as Senior Managing Director for McDermott + Bull Interim Leaders, where he forges relationships with companies addressing transition, change, and transformation. He partners closely with clients who require on-demand consulting resources to bridge leadership gaps and propel their business forward. He has experience working with emerging and enterprise-level companies across numerous industries and has depth in functional areas such as finance, accounting, human resources, and operations.