Situation
- The client was a $200M women’s healthcare company
- The company had grown rapidly in the prior two years, primarily through acquisitions
- The inorganic growth, coupled with existing process weaknesses in budgeting, led to increased confusion and a lack of confidence in the financial statements
- Budgeting processes were decentralized and performed in an ad-hoc manger
Bespoke Solutions
- SLKone worked with leadership to define objectives, processes, and desired templates
- Defined line item aggregation to produce meaningful finance budgets
- Created financial estimates to capture bottoms up estimate from a portfolio of >50 locations
- Developed a 3-Statement Budget model, ultimately approved by equity sponsor and lender
- Documented new budget process and transitioned new budget model to finance team
- Created a budget vs. actuals reporting suite, which automated variance analysis
Leading With Results
- Financial goal posts established to measure success and monitor the budget
- Lender reporting requirements satisfied and made reporting compliant for lending institutions. Reports demonstrated the company’s profile and ability to repay debt
- Improved corporate agility to promptly and proactively manage the business including changes in the locales in which the organization operates
- Increased the integrity, visibility, and confidence of all financial statements and business variances impacting profitability and balance sheet