Development Phase: Growth
One of our clients contacted us to participate on a red team review of their pricing strategy. During that process, our team was able to identify deeper factors that might be affecting our client’s competitive position, and we were able to recommend targeted realignment tactics that would improve their growth prospects.
As our red team examined their pricing strategy, what we found wasn’t a lack of pricing but a lack of strategy. When we dove deeper into their financial organization, we found great people already in place – including an accountant and controller - but an absence of key skills or systems (like good cash management and billing) needed to take them to the next level. And without these assets, it was unlikely they’d be able to achieve their aggressive growth expectations.
The DWP solution
Our first step was to help them find a CFO that could guide this growth. After a local search failed to find the right match, we offered our retired executive program – a portfolio of key people ideally suited to particular contract assignments. Once we had an executive in place, he was able to implement financial reporting systems, program management reporting and review processes; restructure their cost accounts; and provide support for the client’s budget process and strategic plan. We also worked closely to expand the client’s business development into market spaces beyond the federal government.
Within a year of our initial CFO placement, our client greatly improved their cash position and bottom line. And with the right financial systems were in place, our client was in the right position to take on a full-time CFO who could help lead their long-term growth plan.