A U.S.-based GPS fleet tracking company had a business plan that wasn't delivering and an unstructured operation that was leaking cost. We provided fractional CFO and cloud accounting services to put its finances on a sustainable footing.
- Location
- United States
- Sector
- Telematics
The Brief
The Client asked us to provide fractional CFO and cloud accounting services, aligning its financial strategy and business plan so it could reach its performance targets and goals.
The role also covered cash flow management for better liquidity control, and bringing structure to the accounting system while managing its day-to-day transactions.
The Obstacle
The business was highly unstructured, which created cost inefficiencies across the operation, and its existing business plan was not generating the results the Client wanted.
Many of these inefficiencies were not visible at the outset. It took close, frequent engagement with the Client to uncover them and identify where to act.
Our Approach
We designed and executed a bankable business plan, then undertook a capital restructuring strategy to support a sustainable business model.
On the operations side, we automated the Client's accounting systems, improving accuracy and reducing the administrative burden on the team.
What We Delivered
Ongoing financial management turned the new plan and structure into measurable gains across the business.
US$0.4mntrimmed from annual costs
US$0.3mnin research and development credits reclaimed
US$0.2mntax rebate secured
Our Impact
The Client generated positive cash flow on several fronts, worth US$0.9mn across rebates, credits and annual savings.
With a bankable plan, a restructured capital base and automated accounting in place, the business now runs on a more sustainable model with better control of its liquidity.