Stout’s client was experiencing underperformance and significant turnover in key accounting roles, which severely impacted the financial reporting process and resulted in materially inaccurate historical and current financials. Following a period of rapid organic and inorganic growth, the company’s operations had outpaced the finance function’s capabilities. The company struggled to produce reliable financial reports and risked failing its annual audit.

Given the strong relationship and success of prior engagements, the client engaged Stout to support critical interim needs and drive a broader transformation of the finance function.

Stout assumed leadership roles of the monthly reporting process and launched key transformation initiatives that overhauled the company’s finance operations. This included rebuilding the reconciliation process, enhancing documentation and quality controls around the month-end close, and coaching existing staff on best practices for a high-functioning corporate accounting team.

Additionally, Stout helped establish a centralized corporate accounting function and integrated nearly a dozen acquisitions. Prior to this, the company had been operating as a collection of independent entities, with no consistent integration of legacy systems or processes. Stout’s integration work spanned across multiple areas, including process improvement, accounting policies, reporting procedures, treasury functions, financial data consolidation, and more.

As a result of Stout’s efforts, the company successfully passed its annual audit and produces reliable, timely financial reports. The company has significantly improved visibility into the financial health of the business, enabling faster, more informed decision-making. The finance team is well-trained, aligned with best practices, and positioned for continued success as the company grows.