[ Financial Management ]

Performing Analysis For Making Financial Decisions

Overloaded and Understaffed

If your finance department is overloaded with routine tasks and special projects, it can be difficult to meet deadlines for month-end and year-end. Perhaps you’re understaffed and short of people who have the skills to produce financial statements on time, let alone complete any special projects. To make matters worse, you might be under pressure to cut costs and find productivity improvements throughout the organization. Engaging extra resources from outside your company might be the best way to overcome these challenges.

Cogenix Can Help

Our qualified, financial consultants can help you overcome the staffing and cost-cutting challenges you face. If the Controller or another senior manager in the finance department suddenly resigns, a qualified interim replacement is available, fast. We will provide an interim CFO, VP of Finance or Controller to fill the void and ensure tasks such as month-end, year-end and regulatory reporting gets done on time. Further down the department you may be falling short of experienced financial staff in other key areas. Cogenix can supply contract consultants with hands-on experience as a:

•   Cost Accountant,

•   Inventory Accountant,

•   Financial Analyst,

•   Budget Analyst,

•   General or Intermediate Accountant,

•   Credit Manager and Payroll Administrator.

If cost-cutting is a priority, we will recommend strategies grounded in a wealth of experience. You may be carrying too much inventory, paying steep overheads or spending too much to defend product lines for which your competitive advantage has diminished. Our comprehensive financial analysis will bring to light:

• High labour costs

• A weak product line

• Plants with high operating costs

• Unprofitable divisions

Our analysis will reveal these and other previously undetected cost reduction opportunities. By tracking real savings, we will demonstrate to senior management that significant cost-cutting progress is being made.

Beyond Cost-Cutting

Cost-cutting will improve margins and profitability, but senior management also needs clear data in order to make optimal decisions. Cogenix brings a wide range of financial knowledge and the ability to produce meaningful reports that senior management can use to make decisions. In some cases it involves analyzing financial statements with an outside perspective. In other cases it involves finding overheads that can be eliminated from operations to improve profitability

Beyond cost-cutting, Cogenix can be called upon on short notice to perform routine tasks or special projects in the finance department including:

•   Preparing month-end and year-end

•   Consolidating financial statements

•   Preparing management and special reports

•   Preparing budgets and forecasts

•   Preparing reports to comply with regulatory requirements

•   Filling adhoc requests from other departments to collect & present specific data

•   Setting up inter-company transfers that are most advantageous

•   Managing the financial aspects of special projects

Contact us for more information. The first consultation is free.