The CFO of a home décor company left soon after the Company’s controller retired, leaving a large void in the financial/accounting department. Sutker Moran took on a leadership role, quickly assessing and understanding the Company’s financial systems and operations. As a result, the accounting department continued without disruption. Sutker Moran generated timely and accurate financial statements and identified areas for profit enhancement. Showing its value, Sutker became the Company’s permanent CFO/Controller.

Sutker Moran quickly stepped in and immediately identified various issues including unreported financials for six months, significant IRS problems, a deteriorating banking relationship, as well as gross accounting department inefficiencies.

Sutker Moran painstakingly went through the process of remedying each of these issues culminating in preparing timely and accurate monthly financials, restoring the banking relationship, restructuring the accounting department personnel, and completing a successful CPA review of the year-end financial statements.

Having earned the CEO’s confidence, the Company hired Sutker Moran to be the permanent CFO and play an integral role as the Company seeks to execute its growth-oriented business plan.

Referred in by a friendly competitor of the Company, Sutker Moran took over the CFO/Controller role providing full-coverage CFO/Controller services at significantly less cost than a W2 employee. Sutker simultaneously reconciled every balance sheet account while developing and implementing a formal monthly close process. Sutker then focused on the Company’s convoluted WIP projection process. Sutker Moran, first, gained a thorough understanding of the existing process. Then, teamed with the Senior Management Team to reimagine a new formal process tailor-made for the Company’s operations. Armed with meaningful information, Sutker Advisors, as the Company’s CFO/Controller, challenges project managers with cost issues and helps identify operational under-performance.

One of the two owners of a Company that was in the very mature age of its business cycle but cash flowing began to invest in a start-up business in a potentially burgeoning market. After several years of consistent losses and several million dollars invested, both owners questioned the viability of the business model. Sutker Moran helped construct a working senior management team and “locked arms” with them to make significant restructuring moves. These moves included eliminating a low profit, resource-draining royalty relationship, non-productive sales representatives, as well as identifying and converting excess inventory into cash. Even though Sutker played a small role in Company’s future success, we are proud to say we helped the management team build the foundation to allow it to have doubled in size and consistently generate millions of dollars in annual profits.

The Company Owner was told of Sutker Morans’ services by his lender. The owner was very skeptical of Sutker’s reported ability to provide full-coverage, high-level CFO/Controller services for significantly less cost of a W2 employee. He took our call as a courtesy to his lender. Intrigued, the owner and we had several follow-up conversations where he eventually hired Sutker over the leading W2 candidate.
Given we were hired during COVID, the entire onboarding process was done remotely. Sutker installed its standard monthly closing process, developed monthly financial analysis, developed monthly financial projections, and instituted a monthly senior management meeting to review financial results and discuss anticipated future operational needs.

The Company recommended us to a $100 million General Contractor they know. We are now also their CFO/Controller.

Sutker reorganized administrative processes, allowing for a clear delineation of duties that resulted in the efficient and accurate processing of transactions. We also developed comprehensive monthly projections, complete with accruals that allowed ownership and management to understand and anticipate its financial circumstances; Standardized the closing process, improving the timeliness and accuracy of the financial statements; Developed a monthly gross margin analysis by customer, product line, and customer order to help understand profitability;  Finally, Sutker provided a monthly detailed analysis of results, including the Company’s performance versus projections.

With absolutely zero transition time, Sutker Moran stepped in right away into the CFO role. Since all Sutker Moran employees are trained to efficiently and effectively onboard financial management positions, Sutker Moran did not “miss a beat” by closing and reporting financial statements within the allowed timeframe in the first month of the engagement.

Once established, Sutker Moran brought the financials to GAAP standard and assisted with year-end forecasting including never-performed balance sheet and cash flow projections. As now their permanent outsourced CFO, Sutker Moran assists with audits, tax studies, and financial reporting, as well as manages the accounting department.

The cost-conscious owner hired Sutker Moran as their permanent CFO/Controller as Sutker could provide full-coverage, high-level CFO/Controller acumen for significantly less cost than W2 employees. Sutker, immediately, focused on the monthly WIP report leveraging their experience to create an accurate, meaningful, but simple report that the project managers could understand and use to manage their projects. Most importantly, Sutker developed processes and painstakingly implemented procedures surrounding the accounting/managing of the projects as well as other operational areas, resulting in a positive cultural change within the organization.