ABC Co, a company located in Southern Saskatchewan, was referred to Doug’s by a Regina accounting firm.  ABC, a successful, rapidly growing supplier in industrial, construction, and oilfield services, had need for expanded bank credit facilities.

ABC’s CEO had entered into discussions with multiple financial institutions, but had reached a point where discussions stagnated and were stalled.  The company did not have a dedicated finance person (but did have a strong bookkeeper and excellent financial reporting).  The CEO was frustrated, tired of carrying conversations with multiple banks, needed a methodology for offer selection, and did not know where to go next with discussions.

For a few weeks we stepped in as ABC’s VP of Finance.  The CEO handed-off all bank relationships to ourselves and we entered into negotiations with the incumbent bank as well as two suitors, acting as liaison between ABC and the banks.  While we would not have final say in the selection process, it was our role to present company information, expectations, negotiate, coordinate, receive, and evaluate proposals. 

Ultimately, we recommended ABC remain with the incumbent bank.  More importantly, we bridged a communication gap between the company and the incumbent.  The outcome was an up-sized, scalable credit facility which allowed ABC to continue to grow, while providing the bank with a clear understanding of the company, its expectations, and future opportunity.

The project was completed in a few weeks.  During this period ABC’s CEO was able to spend his time focusing on sales generation, his employees, and the company.  Doug’s attended to the financing and banking needs of ABC, and negotiated a solution that met needs and expectations on both sides of the relationship.

When we work with companies in this type of situation, we wear two hats.  We represent the interests of our customer.  We also understand and articulate the needs of the financial provider.  Our role is to bridge the gap in understanding, allowing a more cooperative and productive relationship.

Doug’s Strategy Workshop is your VP Finance and your banker, all in one!