Our CFO Services team partnered with a private equity-backed physical therapy provider with locations across the Northeast. The sponsor engaged CFOx to provide additional accounting and finance capacity as the portfolio company prepared for an audit, evaluated process automation opportunities, and navigated post-acquisition purchase accounting and integration activities.
In phase one, CFOx helped the client achieve audit readiness by preparing balance sheet reconciliations, identifying undocumented processes, and developing internal control documentation and process narratives. This provided the client’s internal team with a repeatable framework for executing key accounting functions consistently and strengthened the organization’s overall financial controls environment.
Phase two focused on streamlining operations and identifying automation opportunities. A primary focus was automating the company’s budgeting process. With over 50+ locations, the existing process was highly manual and time-consuming for the client’s internal team. CFOx automated the budgeting workflow, significantly reducing the time required to complete the process while providing management with more timely visibility into budget performance. Our team assessed additional workflows and recommended process improvements. These enhancements reduced manual administrative effort, improved process consistency, and positioned the finance team to scale more efficiently as the business continued to grow.
In the final phase, CFOx prepared post-acquisition opening balance sheets, recorded opening balance sheet entries, and developed supporting schedules. These efforts helped establish a more organized financial reporting structure, improved visibility into post-acquisition financial performance, and facilitated a smoother integration of acquired operations.
If you would like to learn more about our CFO Services, please reach out via email (info@cfoxadvisory.com) or schedule a call directly on our Contact Us page.
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Services Provided:
- Opening Balance Sheet
- Purchase Accounting
- Integration Support
- System Implementation
