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Success Story - CFO Services to Improve Cash Flow

Providing a fractional CFO to resolve urgent challenges

Superior CFO Advisory services for successful accounting and finance solutions

An oilfield services company was experiencing severe cash flow challenges. The CFO resigned so there was an urgent need for strong financial leadership to re-establish control of working capital and cash.  One of the private equity owners came to Aventine Hill Partners for assistance.

Our Solution

One of our Accounting and Finance Practice Directors assessed the situation and determined there were more challenges than just negative cash flow. The company was also behind on filing its taxes. The Practice Director stepped in as hands-on CFO on a part-time basis to make changes quickly and avoid bankruptcy.

Analysis of cash flows indicated that billing frequency needed to be accelerated and A/R collections needed to be more aggressive. To motivate the accounting team members, measurable goals were set with cash bonuses tied to achieving the goals. The accounting team embraced the changes and DSO was reduced from 180 days to 15 days. Cash forecasting and cash management processes were implemented to sustain the improvement.

Concurrently, our CFO consultant led the accounting team in cleaning up financial records and catching up financial statement reporting for the prior two years. These were used to bring all tax filings current.

Last, recommendations were made on how to train the existing staff to sustain the improvement. With the company balance sheet stable and accounting processes in place, it was determined that a full-time CFO was not needed.


The accounting team received bonuses for cleaning up DSO. The company avoided bankruptcy. The private equity firm that requested our assistance was able to sell its ownership share. Learn more about our CFO Advisory services.

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