The Company
Industry: Professional Employer Organization (PEO)
Entity Type: PE-Backed
Operating Region: U.S.
Size: $200M
The PROBLEM
Amidst growth through both organic expansion and mergers, the company identified a material weakness during its 2022 audit, resulting in a financial restatement. They needed to implement robust GAAP-compliant processes to support scaling efforts. The company required an interim Accounting Leader to lead remediation efforts, improve processes, and ensure scalability and compliance across financial operations.
The Solution
McDermott + Bull Interim Leaders placed an experienced accounting professional with a proven track record in optimizing financial processes across various sectors. The interim leader brought deep expertise in month-end procedures, financial reporting, and building scalable processes that strengthened the company’s overall decision-making capabilities.
The RESULT
The interim Accounting Leader owned the month-end close process and reviewed staff work, implementing process enhancements that improved workflow efficiency. They supported the auditors with cash flow reporting and collaborated on streamlining travel and expense reporting in the company’s ERP system. Additionally, they played a key role in deploying a new reconciliation tool, improving audit readiness and efficiency.
Month-End Close Optimized
Managed the full month-end close, identified process improvements, and successfully implemented enhancements.
Cash Flow Reporting Delivered
Produced detailed cash flow reports for auditors, ensuring timely delivery of requested information.
New Reconciliation Tool Deployed
Led the deployment of a new reconciliation tool, streamlining processes and improving audit readiness.
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.