Success Stories

Software-as-a-Service Company Financial Operational Effectiveness Improvement


Background

When pursuing an aggressive growth strategy, having a robust financial infrastructure is a must. In this success story, a private-equity-owned healthcare technology services company was looking to grow quickly and needed someone with the financial expertise to guide them.

Situation

The company needed to establish the financial infrastructure appropriate to support high growth. An E.L.I. Partner was asked to provide financial leadership, control, and process improvements to stabilize and support this Software as a Service (SAAS) wellness company.

Solution

The E.L.I. Partner implemented financial controls and processes, developed key managerial analysis, and implemented a rolling 13-week cash forecast. The E.L.I. Partner also led the process of interviewing and selecting key service providers in such areas as audit and tax, banking, and health and benefits.

Results

An efficient and highly effective financial infrastructure was put into place to support the client’s growth. The new controls environment created and supported an unqualified audit opinion, the first full audit completed at the client. Improved operational metrics created by the E.L.I. Partner enhanced management decision processes. Robust cost-effective service providers were selected in key areas. The E.L.I. Partner assisted in the search process for the permanent CFO and successfully transitioned responsibilities to the new executive.

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