Practice Area: Outsource Financial Team
Industry: Highway construction
Location: West Coast
Client: Company
Role: Financial reporting preparation and recruiting of new
controller
Our client is a $170 million annual revenue contractor in the
construction of highways and infrastructure projects. They have
successfully focused on the clearing, grading, excavation and
drainage associated with new roads and highways as well as in the
installation of underground pipes and utilities for all service
providers.
When the company’s outside auditors referred Turning Point into the
business, the financial records were in disarray. Accurate financial
reports were only generated on an annual basis, which necessitated
management by the “seat of their pants”, in large part. This in turn
was resulting in reduced financial flexibility by the company’s
banks and bonding companies as the company participated in larger
and more complex projects.
Based upon Turning Point’s deep understanding of the construction
industry, we were able to rapidly address the issues in gathering
and presenting the financial information. The company is now able to
quickly prepare monthly financial and operational reports as well as
prepare its annual audited statements months earlier than in years
past.
These changes required a change and upgrading in the company’s
accounting staff and leadership. We were able to identify the best
candidate for the controller position and participated in training
him to provide management with the information that was needed to
successfully manage the business.