$4 Billion Global Food Processing Equipment Manufacturer
Our Client, the Corporate Controller, had four Senior Managers as direct reports. One of the Sr. Managers, who managed a team of six, was departing the group to head another department, leaving the Controller with a vacancy. The Controller aspired to seize the opportunity and eliminate the role that the outgoing Sr. Manager left vacant. The client retained LevelX to backfill for the outgoing Sr. Manager and implement LX Unboxed — a methodology for leveraging a temporary assignment to help clients eliminate unnecessary headcount and execute more work with fewer employees.
Role / Actions
- Performed Sr. Finance Manager duties: performed journal entries and reconciliations, performed corporate-level financial analysis, consolidated financial statements, and prepared quarterly financial reports
- Streamlined key processes and workflows within the Sr. Manager’s group, including: cash application, A/P accruals, and corporate credit card analyses and various journal entries
- Transferred lower-value, routine tasks to a Shared Services center
- Simplified and streamlined external (SEC) reporting workflow
Results
- Realized over $500,000 in annual savings, including:
- $260,000 by eliminating the Sr. Manager role
- $90,000 by transferring Treasury Analyst role to Shared Services
- $110,000 by eliminating a Sr. Accountant position, redistributed some workflow to Shared Services
- $60,000 by downgrading a Sr. Accountant role to Staff Accountant
