Stabilizing and Strengthening the Close Process After Leadership Turnover
May 24, 2025
The Challenge
A privately held distribution company was left scrambling when its longtime controller abruptly resigned mid-month, just days before the monthly close. The company lacked documented processes, had minimal cross-training, and relied heavily on institutional knowledge stored in one person’s head.
With limited internal resources and no time to onboard a replacement, the CFO needed immediate support to stabilize the close process, ensure reporting continuity, and avoid disruption to lenders and owners.
Our Approach
We were engaged on short notice to provide interim close support. Within the first week, we performed a full process walkthrough, mapped key dependencies, and recreated a close calendar from scratch. Our team quickly got up to speed with the company’s systems, reconciliations, and reporting tools, delivering a complete and accurate close without delay.
From there, we began improving the company’s back-office function. We streamlined month-end tasks, automated key reconciliations, and introduced tracking tools to improve accountability and reduce manual errors. We also developed documentation for recurring journal entries, account rollforwards, and reporting schedules, reducing reliance on institutional memory.
As trust grew, our role expanded from stopgap to strategic. The company retained us as its ongoing outsourced accounting partner, replacing the single-controller model with a team-based solution offering better continuity, built-in oversight, and flexible capacity.
The Impact
What started as an urgent coverage need evolved into a long-term solution. The company gained:
A reliable, efficient close process with fewer bottlenecks
Reduced key-person risk through shared knowledge and documentation
Scalable support tailored to the company’s growth and complexity
Cost-effective access to broader expertise, without needing a full-time controller hire
Rather than rushing into a replacement, leadership gained the stability and confidence of a well-run finance function, delivered with professionalism, precision, and continuity.