BIG has the experience and the ability to work with an organization to formulate and implement the turn around initiatives required to rapidly move the company from one that is bleeding money to one that is a profitable, positive cash flow generating company. Our turn around plan is derived from an operational analysis and/or strategic analysis that, when completed and implemented, have the ability to change a company’s fortunes.

The new business model we develop allows us to sell off assets, divest and retrench from non-core assets and segments, and bridge the time required to determine the long-term viability of the company.

We perform an independent Financial Analysis to determine root cause and level of distress. Using a three phase process we work with businesses to help them determine the next steps.

PHASE 1: Short Term Tactical Analysis

• Analyze recent financial and operational performance;
• Analyze capitalization to determine if company is insolvent, the legitimacy of collateral and cash disbursements, and identify operational issues negatively impacting cash flow and collateral;
• Develop a short term tactical business plan focused on aggressive management of A/R, inventory, A/P, and non-core assets;
• Develop a 13 week cash projection;
• Negotiate and communicate with creditors and vendors through a priority ranking system;
• Negotiate payment terms and favorable pricing with customers; Conduct customer revenue and profitability analysis;
• Identify operational inefficiencies and hidden resources and make recommendations regarding:
  • Effective resource utilization - people, money, assets, equipment, facilities;
  • Elimination and redeployment of non-value added resources;
  • Retrenchment to eliminate non-value added transactions throughout organization;
  • Vendor/ product line/warehouse/manufacturing plant rationalization.

PHASE 2: Mid Term Tactical and Strategic Analysis & Implementation

• If Entity is determined to not be viable, assist with one of the following:
  • Sale, partial divestiture, out of court liquidation, receivership, bankruptcy proceedings.

PHASE 3: Long Term Strategic Analysis & Implementation

• If Entity is determined to be viable:
  • Develop strategic plan and implement re-engineered, redefined leaner business model focused on profitable and sustainable growth;
  • Explore bank options – sale, equity infusion, re-financing, return as non-criticized credit.

See our client case studies for more information.

Turn Around Management in North Royalton Ohio

Through operational and strategic analysis, BIG Financial & Advisory Services has the ability to quickly improve the condition of financially distressed companies through our Turn Around Management Program.

Specializist CPA Services in North Royalton Ohio

The objective of a receivership is to protect and enhance the value of the assets and maximize return to the creditors. Not only do we understand that, we excel at it.

BIG’s receivership services are relied upon by banks, law firms, and courts throughout the region. The objective of each receivership is to secure the assets, stop any further deterioration in value of the assets, and maximize return to the creditors. BIG accomplishes this and makes improvements to the business model in question by tapping into our extensive business expertise, operations experience, and forensic analysis capabilities. We are able to quickly assess whether maximum value will be returned to the creditors through either a liquidation or a going concern sale.

When liquidation is inevitable, BIG identifies ways to minimize the cost of liquidation proceedings, accelerates the time frame for completion, and maximizes the value returned to creditors. Steps include:

• Collecting outstanding accounts receivables and selling remaining inventory, while maximizing the value in each;
• Liquidating hard assets, including warehouse equipment and machines, vehicles, real estate, and office equipment; and
• Pursuing litigation of fraudulent conveyance, mere continuation, and additional charges.

If a going concern sale is the determined route, BIG assesses the root cause of the business problem. Restoring profitability and cash flow while we determine the best course of action is always our first goal. Operational issues are carefully analyzed, strategies are developed to alter the business model, and non-essential and personal expenses are eliminated from the business. BIG has had much success negotiating the sale of companies as a going concern business, preserving the company’s value, saving jobs, and maximizing return to the creditors. Our methods include:

• Effectively managing the company's operations, including sales, procurement, inventory, manufacturing, and distribution;
• Generating cash flow from internal operations to fund continued operations of the company;
• Discovering and recovering diverted assets back into the company through forensic analysis;
• Reversing losses to break-even thresholds in short periods of time, often achieving profitability within 6-12 months; and
• Obtaining “stalking horse bids” and holding sale auctions (in one case we obtained a final sale price 30% higher than the “stalking horse bid”)

See our client case studies for more information.

Receivership in North Royalton Ohio

Through business expertise, operations experience, and forensic analysis, our receivership services enhance the value of assets and maximize return to creditors.

We are the top North Royalton CPA Firm in Ohio.

Need a Business Check Up? Think BIG. If you are like most, you avoid going to the doctor for a check up until you don’t feel well. Unfortunately, many executives do the same with their businesses.

Why wait until your business is sick? At BIG, we have developed a comprehensive Business Check Up that will help you to make your business healthier. And in corporate America, a healthy business means a lean, highly profitable business.

Through a thorough financial, operational, competitive and strategic analysis, a BIG Business Check Up will help you to identify your company’s viability and identify major roadblocks that may be preventing you from growing profitably.

What We Do

Our comprehensive methodology begins with a thorough assessment of your company. We will:

• Analyze your financial data
• Tour your facilities to evaluate operational performance
• Interview owners and key management
• Gain an understanding of your market, transactions, operations, and sales trends
• Research your customers and competitors
• Understand and review your pricing strategies
• Review your assets, if requested

The deliverables of a Business Check Up are aimed at determining whether your company is properly positioned for long-term success; and if not, how we can help you get there. The professionals at BIG will develop a short term tactical business plan focused on the aggressive management of accounts receivables, inventory, accounts payables and non-core assets.

See our client case studies for more information.

Business Advising & Check Up in North Royalton Ohio

We make sure your business is properly positioned for long term success by analyzing financial data, reviewing assets, and understanding pricing strategies.

BIG Financial & Advisory Services are the top Accountants in North Royalton Ohio

Sometimes, businesses need money to continue to grow. BIG can help you obtain the capital which may be necessary to obtain new equipment or real estate, stave off creditors or just accomplish your business goals.

BIG is your liaison between the bank and your company, bridging the gap of credibility and moving the transaction forward.

The key to successful equity investments, mezzanine financing, acquisitions and mergers is thorough and accurate due diligence before the completion of a transaction. We have a system that not only encompasses the legal and financial aspects but also the strategic, operational and cultural aspects of the deal. For capital influxes, we provide the analysis and measurements to help turn your business around as well as providing you the means to monitor your ongoing progress.

An influx of cash is only a band-aid. BIG will determine the steps needed to strengthen your cash flow position and keep you moving in the right direction.

See our client case studies for more information.

Capital Raising in the North Royalton & Cleveland Area

Utilize our ability to raise capital for your business so you can achieve your goals, obtain new real estate, purchase new equipment, or stave off creditors.

CPA Services in the Cleveland area

An alternative to the expensive and lengthy formal bankruptcy procedures administered by the U.S. bankruptcy courts is a process commonly referred to as "out-of-court settlements."

A company can use it instead of Chapter 7 liquidations or Chapter 11 restructuring. The benefit to creditors is that they can receive their payouts much faster than in a formal bankruptcy process.

Credit professionals should be aware that there are still costs associated with this type of transaction. Lawyers are hired to negotiate with the debtor and structure the transaction properly. Accountants are utilized to value the assets and the potential payout to the unsecured debtors for any pre-petition debt.

Out-of-court settlements are used in the following situations:

• If a large percentage of the debt is held by a small number of creditors; and when there is a limited number of land-lords involved, especially if rent has not been paid.
• The debtor needs to reveal the extent of its financial problems. It must make a complete disclosure of its assets and cash on hand. With this information the accountant should be able to quickly formulate a report that can be used to negotiate a fair liquidation or restructuring plan.

If it appears that the debtor is anything but completely honest, creditors should re-evaluate their decision to go along with an out-of-court settlement instead of the formal bankruptcy process. The debtor should keep creditors updated about its financial progress throughout the negotiations. Under the right circumstances, out-of-court settlements offer the best resolution to both the creditor and the debtor in unfortunate financial circumstances.

See our client case studies for more information.

Out of Court Liquidations & Court Liquidation Management

Our accountants can help your business through the process of an "out-of-court settlement" as an alternative to a lengthy and expensive bankruptcy procedure.

The #1 CPA Firm in North Royalton Ohio

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