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A large not-for-profit professional association was in need of financial leadership and strategic financial support. The company required strategic accounting and consulting services to support its finance and accounting department.
Relevante’s professionals stepped in and assisted the client’s finance & accounting team by performing a variety of functions including:
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Interim CFO |
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Interim Accounting Personnel |
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Implementing monthly accounting close process |
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Upgrading Great Plains Accounting System |
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Implementing Bottom Up Budget Process |
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Consulted to establish an Audit Committee for the Board of Directors |
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Redesigning and implementing the chart of accounts and cost center structure |
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Providing finance and accounting education to the board, management and the accounting and finance teams |
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Re-negotiating the banking lines and banking relationships |
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Relevante’s team also did a critical assessment of the existing accounting team and made recommendations for the appropriate level and competencies of personnel. In addition, Relevante has been the internal point person liaison with the external audit firm for the annual external audit and filing of the tax returns. Relevante’s professionals were also extensively involved in the introducing a new financial analysis discipline and process which assisted the management in pricing decision-making.
With Relevante’s guidance, the client’s profits and cash flows improved, turning a sizable loss into a significant positive residual. |
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