"Reese Partners helped Huhtamaki realize significant cost savings of over $2 million a year. The expertise provided by Reese Partners was superior to what we could have done internally, with respect to both quality and time. They brought an objective view that couldn't be replicated internally, worked within a tight timeline and presented what made the most sense given both current and future business trends."
"Reese Partners assessed our current state of effectiveness and efficiency at our Grant Park Engineering Center, benchmarked us to similar operations and recommended opportunities for improvement. They brought great industry knowledge that supported the benchmark, plus brought a fresh set of unbiased eyes to the assessment."
Serving as interim Controller for distressed e-commerce company
Business Case
A publicly traded e-commerce company specializing in the creation of electronic marketplaces for major corporations was in immediate need of a Controller. The previous Controller left the firm and the company was in a financially strapped situation, making a successor hard to find.
Reese Partners Role
Reporting directly to the chief financial officer, Reese Partners served as Interim Controller and managed the accounting and finance functions of the entire organization, including the oversight of six subsidiaries. Reese Partners also helped the company establish and implement controls for the company's financial management reporting system.
Client Success
Reese Partners successfully provided: » Management of all aspects of the accounting department, including standardizing the monthly close process, determining stock option plans, issuing stock warrants, and recording complex funding transactions; » Daily cash management reporting and forecasting to the company's CFO; » Recommendations and implementation of cost reductions through consolidation or closure of subsidiary accounting departments and general offices; » Management of external professionals, including legal counsel, taxing authorities and independent auditors; and » Preparation of all required SEC filings.
Results
After spending 14 months in the Controller position, Reese Partners assisted in training and transitioning the role to a new hire.
