A Staffing Company Finally Turns a Profit

Within a 12 month period, increased gross margin by 50%, leading to the company’s first profitable quarter

The Company: A staffing company

The Issue: Successive years of operational losses

The Work:

• Initiated and implemented a plan to increase gross margin and reduce operating cost
• Sped up financial reporting process, performing the year-end closing on time
• Hired a public accounting firm to conduct an annual Financial Review and file taxes on time; obtained R&D credit for prior 2 years
• Assisted in hiring an Interim CFO in India, where accounting and other support staff was located
• Successfully negotiated new financing agreement that would save the company on interest expense