SITUATION
In 2002 Phil Binkow founded the
Financial Operations Networks (“FON”). His vision
is to create the preeminent online publishing resource for back
office support operations. His first product, The Accounts
Payable Network, has become the “go to” online resource
for financial professionals seeking information, benchmarking,
best practices, tools, templates, and advice on the Accounts Payable
processes. FON and its products are blazing new territory
with their online offering. FON management recognized
the need for financial leadership to help support their rapid growth
plans.
SOLUTION: Trillium
CFO Leadership Services
FON hired Trillium to supplement
its accounting/finance operations with CFO Leadership services. Trillium
was hired to assist the company in navigating the different phases
of growth from start up, launch, to expansion. Trillium
was responsible for building the financial systems, reporting,
and infrastructure to support FON’s operational objectives.
RESULTS
Trillium implemented the financial
processes and discipline necessary for the organization
to continue growing rapidly. This was accomplished by:
- Monthly Financial Executive Summary reporting that analyzes
results and provides advice on areas of opportunity or improvement.
- Developing a financial model to understand the amount of
capital required to support the company’s rapid growth
and a “road map” for continued future growth.
- Developing a financial “dashboard” with key
performance indicators and actionable data for management
to use in business decisions.
- Regular disciplined budget reviews.
- Creating a short-term cash flow planning model to ensure
resources are allocated appropriately.
Trillium has also played a role in reviewing
new market opportunities to understand the financial implications
of expanding new product lines, or launching into completely
new market spaces.
Why Trillium Financial? |
