Case Study | Interim CFO: Financial Excellence for Healthcare
Scale-up

CLIENT

Medical Software
Provider

INDUSTRY

Healthcare

CONSULTANT ROLE

Interim CFO

LOCATION

Germany

The Challenge

Financial Challenges Hindering Growth

The client, a healthcare scale-up, was faced with several challenges in its financial operations.

The client was struggling to maintain a healthy cashflow and lacked standardized financial reporting, making it difficult for the leadership team to access insights, identify revenue drivers and act on profit opportunities. The lack of financial transparency also negatively affected the client’s investor relations.

“We’re entering a phase of rapid growth, but our financial processes are still lagging behind. That’s why we wanted to bring in a financial veteran to help us get everything in order.” — CEO

The client wanted to bring in an interim CFO with a deep understanding of the healthcare sector and proven success in driving financial transformations for scale-ups.

Role of Consultport

Consultport proposed 2 strong candidates within 24 hours. The client interviewed both candidates and selected an ex-CFO with 10-year experience working in scale-ups and developing reports for investors. The interim CFO started working with the client team 72 hours after the initial request.

Approach

Strategic Alignment

The interim CFO conducted a thorough inspection of financial statements, expense patterns and cashflow dynamics to understand past performance and current financial health of the scale-up. Collaborating closely with other C-suite members, the interim CFO ensured the financial strategies were aligned with growth plans and R&D goals.

Solution

Optimized Financial Reporting

The interim CFO developed a comprehensive budgeting process with clear guidelines and performance measures. He also designed and implemented a financial reporting framework, including the development of crucial finance KPIs and an investor-friendly financial report.

“We focused on building robust finance processes, which is essential for a scale-up.” — Interim CFO

Results

Increased Financial Agility

The dynamic budgeting approach drove a 5% increase in available working capital. This empowered the client to confidently invest in growth initiatives.

The new finance KPIs developed by the interim CFO enabled ongoing monitoring of financial performance and identification of revenue drivers. The investor reports provided a clear overview of the company’s financials and growth prospects, offering improved transparency for stakeholders.