Interim Controller and Accounting Surge for $350M Specialty Healthcare Services

"Following the departure of the previous CFO, compliance was deemed lax and required surge capacity in the controllership function"

A high-growth, Private Equity (PE)-backed specialty healthcare group had leadership changes within the finance and accounting functions
Due to previous lax controls, the sponsor and lenders expressed concern with the validity of the financial records and ongoing reporting functions
The team suffered from low-morale and was considered a risk to execution should members of the team depart; processes were not documented to enable ongoing management should attrition occur

SLKone performed a deep-dive assessment into all critical accounting functions and activities
Processes were documented, including go-forward improvements to enable streamlined, compliant approaches
Provided specialized, surge resources, enabling an interim team to step in and correct the books and records in place, including go-forward processes
An interim controller leader was introduced to ensure ongoing compliance and ensure smooth transition to a full-time resource

Rightsized the accounting function. Through process improvement, the accounting function was rightsized by almost 50% to reduce redundancy and improve performance
Enabled, documented processes. The concerted focus on process documentation and improvement allowed for a new team to be brought in and continue managing the records
Updated accounting functions and systems. The deep-dive work enabled an aligned chart of accounts and clean up of financials to be performed to the satisfaction of the Sponsor and Lenders

Case studies and expertise may represent projects and engagements performed by SLKone team members prior to their employment at SLKone