Case Studies

Buxbaum Interim CFOs and Controllers fill vacancies and augment staff. Examples of our work, and the value we brought to our clients, are summarized below.  Call us to learn more.

Interim CFO Transitions Accounting and Finance Functions from Minnesota to California

Interim CFO Transitions Accounting and Finance Functions from Minnesota to California

A provider of health insurance and health technology primarily operated in California, but its accounting and finance personnel were mostly in Minnesota. The company, which ranked #20 on the Fast Company “World’s 50 Most Innovative Companies” list, decided to transition the finance and accounting functions from Minnesota to California.

The company’s CFO recognized he needed help transitioning the company’s accounting and finance functions while maintaining rigorous accounting performance. The CFO’s wealth advisor recommended that they bring on a Buxbaum HCS Interim CFO.

Our Solutions

  • Identified areas that needed improvement and upgraded the company’s accounting and finance processes.
  • A new monthly closing process allowed for more accurate reporting, including KPIs.
  • Recommended and placed new finance and accounting personnel for the California office to lead and maintain improvements.

Value Creation

Buxbaum HCS adeptly facilitated the company’s goals, successfully transitioning the finance and accounting functions from Minnesota to California and hiring and training new personnel.

Interim CFO Resolves Accounting Problems, Establishes Growth Strategy

Interim CFO Resolves Accounting Problems, Establishes Growth Strategy

A privately-held consumer products manufacturer founded in 1979 was not profitable and its financial reporting systems were substandard and lacked transparency.

At the recommendation of the company’s investment banker, the company’s owners retained Buxbaum HCS to upgrade its financial reporting. Our Interim CFO, specializing in the manufacturing and distribution industries, began working immediately.

Buxbaum Solutions

  • Identified deficiencies in financial and management reporting and operations.
  • Implemented substantial improvements to all aspects of financial and management reporting, improving efficiency, accuracy, transparency and timeliness.

Upon learning more about the company’s issues from our CFO, we recommended outside advisors to help the company’s owners define and implement a profitable strategic direction for the business. As a result:

  • The Advisory Board identified significant operating deficiencies, leading to the CEO’s resignation.
  • Within 48 hours of the CEO’s resignation, we identified two highly qualified interim CEO candidates and one was hired.
  • Our interim CEO and CFO worked with the company’s strategic advisor to diagnose and correct numerous operational and corporate governance issues.

Value Creation

Buxbaum HCS contributed substantially to the company’s turnaround, increasing its total value from essentially zero to over $12 million in less than two years. The company eventually converted our interim CEO and interim CFO to full-time employees.

Clean Financial Records for a Successful Sale

Clean Financial Records for a Successful Sale

While preparing the offering memorandum for a privately held national benefits solution provider, the investment banker realized that their client company’s accounting systems and financial records were in disarray.

The investment banker recommended Buxbaum HCS to the company’s CEO on a Friday – our Interim CFO was working on-site in Arizona within four days.

Buxbaum Solutions

  • Deconstructed company’s accounting records and reconstructed a financial accounting system that would withstand intensive scrutiny by prospective buyers.
  • Provided sound financial statements to the investment banker for the sale process.
  • Responded to requests from the buyer’s external due diligence advisor.
  • Recommended new finance and accounting personnel to the buyer.

Value Creation  

Working closely with the investment banker, we facilitated the successful sale of the business in only five months. After the deal closed, our Interim CFO remained involved to help with the business transition.

  • “Buxbaum HCS’s allows our work to be done more efficiently. At our suggestion, our clients have used Buxbaum HCS for the following services: interim CFO; assisting staff members in the finance department with bringing the books into shape for an audit or review; and, providing technical support in isolated accounting areas. We, along with our clients, have found the Buxbaum HCS team to be highly qualified and efficient with the services provided.”
    -Jay Mangel, Managing Partner, Crowe Horwath
  • “I use Buxbaum HCS for two reasons. First, I trust Jimmy Buxbaum. Other providers of interim CFOs claim they offer a high touch level of service, but Buxbaum actually delivers that service. Second, they are very strong at prepping companies for transactions and seeing it through to closing.”
    -Nishen Radia, Managing Partner, Focal Point
  • “I have had great experiences with Buxbaum HCS and its talent. We have hired Buxbaum for interim solutions when we were strapped for manpower or needed help with forensic accounting.  Buxbaum’s interim CFO turned around a challenging situation, and its forensic accountant identified hundreds of thousands of dollars that had been taken from the subject company.”
    - Glenn Corey, CFO, JH Capital Group
  • “Jimmy Buxbaum and his team provide unparalleled customer service, accommodating on both professional and personal levels.  They invested themselves to understand our company’s unique characteristics in order to find a part-time CFO who would meet our needs and requirements.  I highly recommend Buxbaum HCS.”
    - Aquilina Hutton, President, AMRO
  • “Buxbaum HCS really paid attention to me and listened carefully to my requests regarding an interim controller.  They provided the highest quality candidates I’ve ever encountered, and our interim controller is one of the best people I’ve ever worked with.”
    - Esther Newman, VP Human Resources, SusieCakes