With over 70 years of business consulting experience, Stoney-Wilson is able to help your business meet the challenges of accelerated growth objectives and rising customer expectations. Our relationship oriented, needs-focused approach will help your company develop sales teams, strengthen client relationships and become more customer focused.
Get the Finances & Business Acumen You Need
Financial Reporting Quality Review
Stoney-Wilson’s review of one client’s financial reporting uncovered several significant shortfalls in how they were accounting their performance numbers and in how they were reviewing and managing their numbers. One critical finding was that their CFO had been embezzling thousands of dollars from the company for several months. This was due to the company’s poor financial reporting, lack of ownership oversight and inadequate checks and balances. Today, after recovering more than $57,000 from the former CFO, the company has excellent reporting and oversight processes in place.
Banking and Loan Relationships
One medical practice client wanted to buy a building to house the operation. Unfortunately, the company’s financial condition was substandard due to the inattention of the partners. SWBC advised that it would take 1 to 1½ years to get them in shape if they followed our advice. The doctors committed to the plan and followed it to the letter. This included bringing their financial reporting up to speed, establishing a savings account, retaining earnings, cutting costs and improving cash flow. Today, they are in a great new building and doing well enough to bring 2 new doctors into the practice.
A famous movie line states, “If you don’t know where you’re going…any road will get you there”. That’s precisely where one of our clients was positioned. She, the owner, had grown her business revenue-wise, but was in financial difficulty. Past due with her taxes and a poor personal credit rating. She needed a way out of the mess and a way to build financial strength. She needed a plan. We created a plan that focused on key initiatives and action steps. She has now grown to the point that she has cash reserves to cover taxes and operating expenses; strong equity; and great cash flow. She’s now building her plan to start a second business.