"I am gratified that we have (and will continue to use) Rob as a resource. We could not have transitioned to our new ownership’s financial statement requirements without his help. We will be using Rob again in December to put the final touches on the project and I see reaching out to him as we bring in acquisitions and in our upcoming transition to a new CFO. Great guy, extremely knowledgeable and talented."

- Steven Fleagle - CEO

ABC Industries – Industrial & Mining Ventilation, Technical Fabrics

Business Challenge: ABC was recently acquired by a private equity firm who required their financial results to be submitted monthly using a 19 tab template.  ABC nor their accounting firm had the skillset to populate the template without many hours of manual work.  And the first report was due by the end of the month, which was rapidly approaching.

The Solution:

  • REL 65 was engaged to assess the spreadsheet and consider ways to drive automation and ease of monthly updates.

  • Through a simple export of the standard Trial Balance from the ABC accounting system, five different slices of Profit & Loss, three views of the Balance Sheet, and 3 levels of Cash Flow Statements are automatically generated.

  • In addition, the budget was imported into the template to populate budgeted P&L, Balance Sheet, Cash Flow and Working Capital computations.

  • The total update time each month is limited to an hour or two and the quality of the information is high since manual input errors are eliminated for all but a few of the minor supporting information tabs like headcount.

  • While this process supported a very complicated reporting format, the same principles apply for any financial package. Contact us for an evaluation of how a similar approach could supercharge your financial reporting.