Case Studies - Interim Resource

Resource Steps in When Company Terminates CFO

A family owned manufacturing company with inadequate cash flow and limited bank credit, had declining profitability.


  • Company management lost all trust in its financial leadership. The financial information that it did have was late and lacked credibility.
  • A year-end outside audit disclosed significant weaknesses in the accounting department leadership which resulted in the termination of the department head.
  • Inadequate cash flow prevented the company from paying its vendors within terms causing lost discounts and damaging relationships.
  • Lack of collection efforts exacerbated cash flow problems and led to increased A/R delinquencies.
  • Bank line of credit was fully utilized with no further funds available.
  • Operating without current and accurate financial information caused delays in critical decision making.


  • Lauber Business Partners was engaged to provide an interim financial manager. This individual, with proven CFO skills, provided the necessary financial leadership, and filled the vacancy while the company conducted a search for a permanent CFO.
  • The Interim Resource met with company management and the outside auditors to identify problem areas and prioritize a corrective action plan.
  • Numerous accounting errors were identified and corrected as a first step in generating timely and accurate financial information.
  • A cash-flow forecast was prepared to quantify company banking needs and negotiate a new bank line of credit that provided sorely needed resources.
  • The accounting staff was coached to initiate collection efforts that dramatically decreased the accounts receivable collection period and significantly improved cash flow.
  • The Lauber Business Partners interim resource completed the over-due company budget and brought additional management skills to the accounting team that were utilized to assist decision makers.
  • The Interim Resource participated in reviewing and assessing permanent CFO candidates.

What this meant to company

  • The leadership and guidance provided by the Interim Resource from Lauber Business Partners greatly improved the confidence of the accounting team and regained lost morale.
  • With adequate financial resources, vendors were paid within agreed to terms, cash discounts earned, and relationships repaired.
  • Management once again was provided timely and accurate financial information and the trust in the accounting department was restored.
  • Trend analysis and benchmarking highlighted areas for cost improvement and assisted in pricing decisions, which in turn improved profitability.
  • The timely and accurate financial statements and forecasts provided to the bank solidified the banking relationship and led to expanded credit availability.
  • After evaluating a number of candidates provided by Lauber Business Partners Search Team, the Company extended an offer to the Interim Resource as the best candidate.

The value of a Lauber Business Partners Interim Resource

  • Experienced Interim Resources are screened for capabilities and other attributes that are custom matched to specific client needs.
  • A willingness and ability to jump in and be productive from the outset
  • A trusted advisor to company management on financial and many other matters.
  • A senior financial executive with the ability to quickly assess business needs, develop effective action plans and successfully execute those plans