Before DLC
- Lack of in-house expertise
- Issues with month-end closing and financial reporting
- Systems not tailored to automate manual processes
Case Study
Manufacturing & Distribution Company in Turnaround Scenario Receives Support in Process Standardization & Employee Training
After DLC
- Skilled finance and accounting experts
- Streamlined month-end and financial reporting processes
Overview
A design, manufacturing, and distribution company of consumer products engaged DLC to bring stability and structure to their finance and accounting departments after pursuing a turnaround strategy.
Approach
The DLC team assessed the client’s current configuration to identify issues and areas of correction.
Next, a structured month-end close process was implemented to reduce the process timeline from 1 month to 10 days. The DLC team also trained the client’s current staff on a new, systematic compliance process to ensure proactivity.
Results
After engaging DLC, the client had more structure, discipline, global compliance, and knowledgeable staff that resulted in a streamlined finance and accounting function.
In addition, due to DLC consultants’ depth of turnaround experience in past projects, a relationship and rapport was quickly established between the DLC team and the client’s CFO due, providing the leadership team with confidence and trust at a time of change and uncertainty for the firm.
The client’s CFO was able to focus entirely on managing cash flow and overall financial strategies instead of day-to-day duties for finance and accounting, which improved the financial position for growth and profitability.
