Privately-Owned Educational Publishing Business
Our client experienced a precipitous decline in their business and were burdened by a finance organization designed to support a business four times its present size. Management retained LevelX to right-size their finance organization.
Role / Actions
- Recommended consolidating two facilities into one and moving all of the Company’s inventory to 3rd-party seller facilities.
- Reviewed and made recommendations to simplify the Company’s accounting workflows and systems
- Reviewed the Company’s legal structure and recommended consolidating legal entities to simplify accounting and administrative processes
Results
- Generated a total of $4.7 million in economic value through a series of transformation initiatives
- Achieved $400,000 in annual savings (2 FTEs and IT maintenance costs) by simplifying accounting processes and converting ERP systems
- Achieved $100,000 in annual savings in rent, utility, and related costs by consolidating operational facilities
- Achieved $20,000 annual savings by consolidating legal entities, eliminating redundant or unnecessary bank accounts, and minimizing intercompany funding transactions
