Practus’ performance improvement services enabled the transportation company to reduce the average DSO from 36 days to 9 days.
|Client Name||Industry||Ownership||Management||No. of Employees||Size||Project Duration|
|Cool Trade||Transportation||Private-Equity||Professional||~1700||~$70 million||1.25 Years|
About The Company
Cool Trade has been providing safe, reliable, cost-effective transportation services for children with special needs to and from schools all over Massachusetts and Connecticut for the last 35 years. They partner with the Districts and Programs we serve to develop the most cost-effective process for the customer while not dropping the level of service provided to the student.
- Practus was deployed on site to shadow the incumbent CFO during the acquisition by the PE Firm.
- Established an annual budgeting exercise and undertook cost controls.
- Upgraded the financial reporting package and provided Board pack presentations with detailed analysis. on each month’s performance and provided variance reporting at metric level for Actuals vs Budget.
- Provided operating metrics by location for use by the CEO and the Operational VP’s.
- Documented Policies and Procedures at an Organization wide level.
- Provided accurate cash-flow projections up to 30 weeks.
- Developed a plan for Hedged Fuel.
- Reduction in average DSO by 9 days from 36 days .
- Increased average DPO of 10 days to pay out at terms and not early improving working capital cycle.
- Delivered $111K in hedged fuel savings in exiting and buying contracts.
- Delivered 3 clean audits namely Prior PE firm, new PE firm, and retirement audit.
- Conducted due diligence of 5 companies for acquisition and successfully on boarded one to date.