Below is a selection of past projects that CHYZYK, Inc. helped make successful.
National Auto Auction, Auto Import & Distribution Company
Performed a system upgrade. This company had nine remote offices. The implementation provided consolidated reporting, which gave the staff the opportunity to switch from producing consolidated financials via spreadsheets to a fully automated reporting system. Also developed a variety of special reports using FRX. Project Director for financial restatement and internal audit activities. Worked on re-capitalization project for new investors, capital infusions, banking/credit lines, banking compliance, debt reporting and management and floor planning. Interfaced with banking and Toyota Financial Credit Corp for increased floor credit and revolving line by $25 Million+.
This company was bought out by a publicly held. At the time of take over the previous management changed accounting systems and destroyed all operating manuals, fired all accounting staff and wiped clean all accounts receivable data. Assigned the task of piecing together accounting system, writing manuals for system, training accounting staff and rebuilding accounts receivable. Also integrated accounts receivable, billing and customer service to provide the maximum service to customer base and improve systems for account collections. Worked with bank to assist with A/R based loan to help with on-going operations. Project lead to the discovery of an additional $3MM of missing accounts receivable.
200 Unit Regional Convenience Store & Gas Chain
Developed an automated bulk fuel inventory program. Designed, developed and wrote an automated perpetual inventory program. This task was previously performed manually. The automated system posted and tracked all transactions and allowed for a variety of reports. Audited vendor rebates, volume discounts and retail coupon activity. Established methods to analysis impact on programs had on promotional programs on current results and future results.
National Franchise Restaurant Organization
Costing project to audit, then to develop menu cost standards and controls for 75+ franchisees.
Assigned the duties to clean-up accounting, financial reporting, credit and banking for a Toyota Forklift distributor, which was part of an expansion program of a planned multi-site program. Financials and accounting was completely out of balance, and collections were 120+ DOS and banking and credit was at a point of termination. Action to establish cash flow requirement, cash projections and credit reserves. Developed Loan Life Coverage ratios, strengthened asset loans and sales financing. Took corrective measure for collections and A/R. Brought company into banking compliance which freed sales financing opportunities. Installed monitoring and reporting for debt to income ratios. There were no financial controls, no budget and no cash management. Once accounting department was cleaned-up and a grasp was gained of the books and records, as well as cash controls being put into place, a budget was developed and collections were brought down to acceptable terms. This enabled eased banking and credit line terms and allowed for inventory purchases. Implemented repair shop reporting to make sure we billed correctly and factory warranty work was billed to the factory. Results included increased repair revenue, reduced non-billable repair work and controlled shop services tech overtime.
Developed KI/KPI (Key Initiatives/Key Profit Initiatives) reporting critical points of operations that feed/drive profitability. Focusing operational activity into key main point that followed, analyzed, and projected developments and trends. For and from operations that impacted financial results. In addition, it provided information in a format for non-financial mangers to understand how the operations affected financial results.
National Restaurant Company
Directed and managed a full accounting, inventory and food cost system operations and conversion for a local division of a national restaurant and dairy products manufacturing company.
Construction Materials Company
Charged with the task of leading team to preform due diligence buy out agreements and then to merge financial, operations, reporting and costing in to the parent company, of nine independently owned companies. Acquiring and merging the nine companies into the larger parent company. Unique situations arose as related to small privately held companies and the way that they kept their books & records, which were not in the best of shape, needless to say, were in accordance with GAAP. Not only did it require exhausting work to even establish if the companies were solid and numbers were accurate, so we could perform feasibility studies and future projects. It also required forensic accounting and complete restructuring of the books and records, before we could even begin. Also as part of this task, we oversaw the migration of all accounting duties, record keeping and associated task to the larger entity and the conversion to the parent systems.
Frozen Meats Distribution
Worked with a wholesale frozen meat company to develop pricing and distribution into Wal-Marts and other national department stores. Faced several challenges, but pricing and order fulfillment were critical components. Developed strategic methods using volume minimums, advertising promotions, vendor in-store support, staff, and creative inventory, distribution and DSD programs to achieve goals.
International Paper Manufacturer
Designed, developed and wrote an automated paper roll press maintenance-tracking program. Developed a stand-alone program, which automated all aspects of this task, which was previously a manual operation. Also designed, developed and co-wrote an automated personnel scheduling program. This program automated a rather long, intense and detailed process that analyzed all variables and criteria for scheduling. The program analyzed labor cost, job position, union placement requirements and other related data to develop weekly labor schedules.
Environmental Services Company
Publicly held company that declared chapter 11. Was a key member of an outside consortium of advisors that was brought in for turnaround and rehabilitation activities. Project manager for bankruptcy claims management. Over 18,000 creditor claims filed with an additional 60,000 debtor filed claims. Prepared litigation documents and assisted and supported legal counsel for over twenty omnibus objections. Reduced total bankruptcy liability from $187 Billion to $2.7 Billion. Worked with Internal Audit, outside auditors, banking and other advisors on a $750 Million + financial restatement and $2.7 Billion DIP financing exit package. Worked hand in hand with Corporate Treasurer on banking issues, loan management and agreements to establish DIP covenant compliance and compliance certification. Building and running models for debt service coverage and associated ratios, cash flow analysis, projections and qualifiers for exit financing. In addition, we had to develop models and projections to maintain certain requirements for Current Ratios, Return on Equity, Working Capital and Debt to Worth leverages. This was an extensive and exhausting challenge due to the constant changing variables related to a fluid balance sheet. Assisted with SAP FIAP conversion/implementation. Developed a project cost procedures using SAP CO. Key member of the team charged with forensic accounting activities and financial restatement.
Home Decor & Furnishings Manufacturing & Marketing
Assumed Controller/(CFO) duties. Company goal was to change from an entrepreneurial company to a professionally managed organization. The accounting department was almost non-existent; activities were limited to making bank deposits and check disbursements. There was no reporting and the management did not even know what they needed. Assigned the task of transforming the finance and accounting systems from a non-existent system to a professionally run department performing monthly F/S closing, financial analysis and financial reporting to executive management and manufacturing management. Designed reports and reporting systems to meet the needs and to answer operating, production and sales questions. Developed the first operating budget and financial forecast in the company’s history. Developed asset based banking programs, which established and increased funding opportunities.