Before DLC
- Limited financial visibility and oversight
- Cash flow issues
- Lack of in-house resources and expertise
Case Study
Interim Finance Support Enables Aviation Company to Reduce Cash Outflow by $100,000 / Week
After DLC
- Robust 13-week cash flow model to provide an accurate picture of financial health
- CFO onboarding package to ensure a seamless transfer of knowledge
- Time and money saved
Overview
The client – a commercial flight company with a focus on green, carbon-free, hydrogen-based aviation – engaged DLC to act as an interim finance director after the departure of their full-time CFO.
DLC was selected due to the client’s need for a sharp, hands-on finance leader with experience who could quickly understand the business and drive it forward.
Challenge
In addition to the departure of their full-time CFO, the client was running into issues stemming from lack of financial oversight, mismanaged cash flow, difficulty efficiently paying vendors, and negative financial health impacts due to delayed fundraising.
Approach
After working closely with the client to align on needs and goals, the DLC team provided the following solutions:
- Developed a 13-week cash model to reflect all cash outlays forecasted through 2025 to provide the client with visibility into cash balances and upcoming spend.
- Created financial and dashboard reports and annualized budgets.
- Developed a CFO onboarding package to provide the client’s future full-time CFO with a summary of all finance and accounting operations and ensure a seamless transfer of knowledge.
- Managed daily finance and accounting operations to provide the client’s full-time CFO with more room to focus on investor relations and fundraising efforts.
- Selected industry-leading ERP and finance tools that met the client’s needs (Oracle NetSuite for operations, and Vena for financial forecasting).
Results
After DLC created the 13-week cash flow model, the client was able to better visualize their financial standing and reduce weekly cash outflow by $100,000. In addition, DLC consultants helped the client save time by managing A/P vendor communication needs and ensuring their full-time CFO was quickly and efficiently onboarded.
