Summary
This case study details the strategic finance outsourcing services provided by Armanino to Glassybaby, an artisanal glassware company. In March 2020, the CEO, Lee Rhodes, faced significant challenges due to the COVID-19 pandemic, which disrupted normal operations and highlighted the lack of financial oversight. Without a CFO and with insufficient financial planning capabilities, the company required immediate assistance in forecasting cash flow, inventory production, and online sales. Armanino's Strategic Finance Outsourcing (SFO) team developed a financial forecast model and introduced a strategic CFO to enhance operational visibility and refine production decisions. The outsourced controller managed the in-house accounting staff, utilizing refined cost data to improve cost application and measure margins effectively. This collaboration allowed Glassybaby's leadership to proactively navigate their financial landscape, ensuring they had the necessary insights for critical decision-making during a turbulent period.
