The Situation

An India-based global IT Services & Solutions Company, part of a diversified business conglomerate, required an interim CFO to fill a sudden gap in their organization.

X-PM’s client faced attrition in the finance function, including the unexpected departure of its CFO.


The organization was also grappling with challenges of COVID-19, and needed to stabilize its financial and IT systems after a recent M&A deal.


The Client called X-PM to ensure the following:


1. Error-free closure and audit of financials, communication of results to investors and compliance with governance rules applicable to publically listed companies.


2. Integration of IT systems across the company.


3. Automation of financial processes.


4. Management of costs, working capital and cash in a new business environment.

The Solution

X-PM quickly deployed a highly experienced interim CFO to build relationships with the existing team and stakeholders and to focus on the following tasks:


1. Create deadlines, responsibility matrices and review mechanisms.


2. Re-engineer key processes related to management of costs, working capital and cash. 


3. Strengthen investor communication and relationships, and introduce a global compliance tool. 


4. Reorganize the Finance function to ensure optimal positioning of team members and ensure a clear understanding of roles and responsibilities.

The Result

X-PM’s interim CFO enabled the Client to achieve the following during this 9-month mission:


1. Timely and error-free compilation and audit/review of the financials for the financial year and subsequent quarters.


2. Successful and timely integration of internal finance and IT systems.


3. Initiation of an internal Business Process Transformation initiative across 9 different tracks, with clearly identified timelines, responsibilities, costs and  deliverables.


4. Double digit growth in EBIDTA  despite pressure on revenues.


5. Reduction of Days Sales Outstanding by 19% to 58, the best in the industry.


6. Improvement in bank balance.

Latest Case Studies

Link to DEPLOYED AN INTERIM CFO IN AN INDIAN IT SERVICES COMPANY
DEPLOYED AN INTERIM CFO IN AN INDIAN IT SERVICES COMPANY
Link to INTERIM HR DIRECTOR
INTERIM HR DIRECTOR
Link to TURNING AROUND AN INDIAN FOOTWEAR COMPANY
TURNING AROUND AN INDIAN FOOTWEAR COMPANY
Download Adobe PDF reader
Download acrobat reader