Calming the chaos of post-acquisition close

Company type

Small, private

Industry

Life sciences

Solution areas

Interim Finance

Challenge:

A private biotech company needed help with its year-end close, and quickly—in just 10 days.
Adding to the time crunch was the fact the accounting manager and CFO had left on short notice and the business had just acquired two companies. They were in the midst of converting the books for all three companies to a single accounting system.

Solution:

The RoseRyan ace hit the ground running, easing quickly into the accounting manager role.
She helped the company close two companies’ books in seven days—three days earlier than the tough deadline.
Our accounting pro 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.

Our consultant 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.

Results:

Timely closing of books

Minimal post-acquisition disruption

Improved internal processes

System efficiency

Tough challenges solved

Finances that no longer felt chaotic

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