Case Studies
We take pride in delivering quality service with tangible results. Our objective is to provide the necessary tools for our clients to focus on key business issues. Whether the need is for a consultant to develop policies and procedures, a team to manage and build the back office infrastructure or a project manager to lead a systems implementation, we can help. The following are some of our success stories:
Project #1 Client: A boutique public relations company
Problem: Early stage and rapidly growing Company needed a finance professional to develop the accounting and finance function and to define requirements for a permanent finance executive.
Goetzman Group Solution: Provided a seasoned financial manager with relevant industry experience to establish and manage the accounting and finance function, with specific focus on a budget and cash flow model to effectively manage working capital. Leveraged knowledge of the Company and the needs of the finance function to define role, responsibilities, and priorities for recruiting a permanent finance executive.
Result: Client was able to immediately draw on the expertise a seasoned finance professional with experience in is industry. Rather than occupy time and redirect resources from its customers, our client was able to rely on our professionals to establish the back office function, and define the requirements to recruiting, hiring and training a financial team to support the projected growth of the Company.
Project #2 Client: Internet infrastructure Company.
Problem: Pre-IPO Company needs to reconstruct financial records and prepare audited financial statements for three consecutive years. Lacking a professional finance team and an appropriate accounting system, Company needs to develop financial policies and procedures and implement a financial system on JD Edwards.
Goetzman Group Solution: Provided an interim Controller and experienced accountants to manage and direct internal accounting staff in preparing audit workpapers, documenting business processes, gathering user functional requirements, and developing finance & accounting policies. Provided project manager with JD Edwards experience and implementation background to lead systems conversion and conduct user acceptance and validation testing. Worked closely with internal management to support Big 4 auditors and investment bankers through audit and S-1 process.
Result: Breadth of solution allowed Client to meet critical deadlines and deploy expertise only in specific areas of need. Client was able to save time and money. By cost-effectively plugging a turnkey management team into their organization, the Client was able leverage our experience to work and guide their staff through business critical processes.
Project #3 Client: A subsidiary franchiser of Mexican-style restaurants of a Fortune 500 global restaurant operator.
Problem: Company needs to conduct due diligence reviews and audits of its 130+ domestic franchisee groups. Declining royalties, non-reimbursement of co-op expenditures, weak internal control infrastructure and exposure to credit risk necessitate this project. The company seeks an outsourcing cost-effective solution to augment the Big 4 Senior Management team engage to lead the project. Client did not want to experience staffing turnover during the project.
Goetzman Group Solution: Provided a team of senior financial consultants to work under the direction of the Big 4 engagement partner & manager. Provided independent business analysis for negotiations between franchiser and franchisees. Restructured the franchisee cash flow obligations to ensure its viability and long-term economic return for the franchiser. Established a framework for on-going franchisee reporting requirements and compliance. Identified and accelerated the liquidation of targeted non-performing franchisees to maximize residual returns to both franchiser and franchisees.
Result: The project spanned 8+ months; insufficient time to hire permanent employees but too long a duration to incur the high costs of utilizing Big 4 consultants. Client saved significant time and money by leveraging our resources. By offering professionals that are full-time employees of the Goetzman Group, we were able to ensure continuity and consistency in staffing for the entire project duration.
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