Technology Company

Phoenix is engaged by a portfolio company of a PE fund to serve as CFO from day 1 while it completed its search for a full time CFO.

The Client

Phoenix’s client is the parent company and recent acquirer of two operating subsidiaries:

  • Subsidiary #1 is a provider of corporate ethics and compliance e-learning solutions. The Company’s online courses are designed to address ethics and HR compliance training issues.
  • Subsidiary #2 is a provider of domestic and international 24-hour reporting hot lines and software case management solutions, enabling customers to review and manage anonymous employee reporting of unethical activity.

The Challenge

The parent company recently acquired both subsidiaries in simultaneous acquisitions and required an interim CFO until a permanent CFO could be identified and retained.

Phoenix’s scope included, among other responsibilities, the management of the accounting/finance personnel, development of a weekly cash flow forecast, updating the current annual budget, evaluation of the portfolio companies’ existing financial systems and processes, and treasury management.

The Solution

Phoenix served in the interim CFO function for ~3 months, from the time of the portfolio company acquisitions until a permanent CFO was retained and onboarded.

During that time, Phoenix identified and tracked a comprehensive list of KPI operating metrics, managed the combined treasury functions, and updated the combined current year budgets. Additionally, Phoenix developed a detailed CFO onboarding package which included a review of critical, internal processes and recommendations for operational improvements going forward. Finally, Phoenix managed the annual renewals of the companies’ insurance policies.

Phoenix Growth

Primary Industry

  • Technology

Secondary Industry

  • Software Technology/Hardware Technology

    Primary Services

  • Interim Management