Client
Private Equity-backed retail technology firm carved-out of large publicly-traded corporation
Situation
The client CFO retained an interim Treasurer from Levelx to quickly establish a treasury function and control the flow of cash between the carve-out and it’s former parent.
Levelx Actions
- Designed overall cash management methods and tools to facilitate the tracking and assignability of cash between the carve-out and its former corporate parent
- Created a monthly reporting package for the private equity sponsor
- Calculated and reported on all lender covenants, offered the CFO and CEO guidance on covenant compliance requirements and tactics
- Trained new treasury team on cash flow forecasting, liquidity management, and bank relationship management
- Designed and implemented a daily cash forecast which served as an essential tool for managing A/R collections and line-of-credit use, and controlling inventory
- Assisted in the development of a financial forecast process and tools
- Assisted in design of treasury function (org chart) and evaluation/selection of treasury team members
Results
- Documented all treasury processes, methods, and tools and transferred this knowledge to the new treasury team