Industry: Aerospace Manufacturing

Eventus was hired to optimize finance processes for an aerospace manufacturing firm so that it could meet the financial health criteria for larger customers, raise additional rounds of funding, and better manage the business.

Industry: Aerospace Manufacturing

Eventus was hired to optimize finance processes for an aerospace manufacturing firm so that it could meet the financial health criteria for larger customers, raise additional rounds of funding, and better manage the business.

Synopsis

An aerospace manufacturing company had raised +$70M from accredited investors and was taking large orders from multinational buyers. Unfortunately, it was having a hard time producing financial data for new clients that were major global aerospace firms. To execute these contracts and grow revenue, the company needed to pass vigorous vendor financial tests. Also, current financial statements didn’t align with management’s

understanding of business performance. Internal turnover left gaps on the team, and without proper accounting, the firm couldn’t pass vendor tests or acquire capital to finance producing ordered equipment. Failing to clean up the books and records would put the company’s future at risk. Management and investors knew Eventus could handle the task.

Service(s) Utilized

1 Controllership & Accounting Solutions 2 Capital Advisory

“Failing to clean up the books and records would put the company’s future at risk. Management and investors knew Eventus could handle the task.”

Strategy & Course of Action

Eventus’ ability to handle complexity was critical to success. Our analysis determined that there were no bank reconciliations done for the past three years, four GLs didn’t tie, and the multiple legal entities were out of sync. Eventus took a two-pronged approach: cleaning up the historical books and records while simultaneously revamping the back-office.

Eventus consolidated operations and ensured that the firm satisfied all of customers’ requirements. After successfully tackling these two projects, the scope of the relationship expanded.Eventus was charged with supporting the firm’s first institutional fundraiser process, managing the auditor interface, and working with the company’s internal team as a fractional controller.

The Results

If not for Eventus’ contributions, the aerospace manufacturing business would not have survived. Through controllership and accounting, Eventus empowered the company to pass vendor reviews and deliver a critical product. Eventus’ ability to clean-up and run the finance function resulted in an increased the scope of work.

  • Cleaned and organized books and records
  • Sourced debt broker who had a previous relationship with Eventus and was confident in the work.
  • Revamped entire accounting and close process
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