About RoseRyan : Project Profiles : Calming The Chaos Of Post Acquisition Close
RoseRyan bonus
- Identified and solved unanticipated challenges
- Helped minimize post-acquisition disruption
- Improved internal processes
- Increased system efficiency
- Trained a new accounting manager
Company type: Small, private
Industry: Life sciences
Service areas: Interim finance specialists
The mission:
A private biotech company needed help with its year-end close. Ho-hum? Not quite. The accounting manager and CFO had left on short notice. The business had just acquired two companies and was converting the books for all three companies to a single accounting system. And senior management wanted the year-end close done in 10 days—difficult under the best circumstances.
RoseRyan in action:
The RoseRyan guru hit the ground running, easing quickly into the accounting manager role. She also discovered that the new inventory system wasn’t fully tested and had been implemented without reconciliation. After giving an assessment to the client (who knew the situation was a challenge but didn’t realize the extent of the work involved), the guru created a plan for getting the company’s finance house in order following the close.
Mission accomplished:
Working long hours, the RoseRyan guru helped the company close two companies’ books in seven days—three days earlier than the tough deadline. She then assisted with the implementation of a single accounting system for all three companies and reconciled the inventory system, accounting for variances in beginning balances, purchase order variances, bill of material variances and inventory adjustments.
What’s more, the guru saw that finance wasn’t getting the right information from sales and helped the finance team ask more effective questions. She spotted inefficient processes and worked with the team to streamline them. Then she went beyond the books to train the new accounting manager. Ultimate result: the company’s finances—and finance organization—went from chaos to calm.
