Croixstone – Page 4

Consulting Industry Insights: Restructurings & Turnarounds

The global pandemic has fueled an increase in consulting engagements focused on restructurings and turnarounds over the past 15 months. In its May 2021 newsletter, BDO Consulting Group published the below informative chart highlighting U.S. corporate bankruptcies with debt greater than $10MM by industry. Interestingly, approximately 40% of the 302 bankruptcies filings were in two industries: 1) Oil & Gas and 2) Retail & Consumer Products.

Source: BDO Consulting Group, LLC, Debtwire Restructuring Database
* Includes companies with at least $10 million in funded debt

So what are the common restructuring and turnaround services that consulting firms like Croixstone offer? As published in a recent article by Consultancy.eu, these services include:

Diagnosing the problem: Identifying drivers for the crisis, stage & severity of crisis
Stabilizing operations: Managing short-term liquidity & working capital concerns
Cost efficiency & austerity strategies: Evaluating business needs for cost-cutting measures; designing & implementing austerity plans
Procurement cost reduction: Analyzing contracted spend & redesigning & renegotiating contracts
Business model innovation: Rethinking operating & core business models, value creation & enhancement
Divestiture strategies: Offloading non-performing business units, distressed segments, portfolios, etc.
Organizational effectiveness: Streamlining resources; revamping processes & business segments; interim C-level deployment
Change management: Developing change implementation plans to ensure minimal people disruption

We Have News!

We are excited to announce that our very own CEO and Co-Founder, Patti Weber, has been named a “Forty Over 40” award recipient by The Charlotte Ledger. The awards, revealed in a special online presentation last evening, celebrate local unsung heroes aged 40+ who are doing great things in the Charlotte community.

This year’s group, representing the second-ever group of award recipients, was chosen by a distinguished panel of under-40 judges who reviewed many impressive nominations.

Patti, who has long-term passion for STEAM, was recognized for driving outcomes in business, healthcare and social innovation. In addition to serving as Croixstone’s CEO, Patti is a co-founder with the Charlotte Pancreatic Cancer Alliance (a community group that increases awareness for pancreatic cancer) and a Partner with Social Venture Partners Charlotte (a nonprofit group that passionately attacks social and economic inequality and promotes social innovation across the Charlotte region through venture philanthropy).

Learn more here.

The Rise of the PORTFOLIO Career

Much like COVID-19 has accelerated the pace of digital transformation, future of work experts are seeing a rise in the pervasiveness of professionals with “portfolio careers.”

Ben Legg is an engineer, serial CEO of global digital businesses, former COO of Google Europe, and former McKinsey consultant. He believes the portfolio career is a continuation of the automation of work and is here to stay.

Croixstone’s business model is built around our deep understanding of the portfolio professional. So what is a portfolio career?

A portfolio career isn’t reliant on a single source of income.

Income is derived from serving multiple clients that might include project work, consulting engagements, interim roles and/or board roles.

Unlike a “gig economy worker,” a portfolio career is thoughtfully put together and is focused on offering differentiated services in order to maximize earnings.

Learn more about portfolio career insights from Ben Legg.

Croixstone Welcomes Grace Lynch

Croixstone is excited to announce today that Grace Lynch has joined our team in the newly-created role of Senior Manager, Business Operations.

Grace is an operations and process expert who drives business outcomes for fast-growth and transformative organizations. Her background includes nearly two decades at Wells Fargo during the bank’s growth spree where she served in the Office of the President and provided leadership focused on problem resolution and process optimization.

Grace also performed due diligence and integration activities for mergers and acquisitions. She served as a leader in the bank’s credit risk area and worked in a number of other roles in customer service and branch operations.

Grace has supported the Charlotte region’s nonprofit and faith communities in leadership roles with the Charlotte Affiliate of the Pancreatic Cancer Action Network and Assurance United Methodist Church. As a social innovator, Grace is a co-founder of the Charlotte Pancreatic Cancer Alliance.

Grace holds a Bachelor of Business Administration (BBA) degree in Finance and Economics from Augusta University.

We invite you to visit Grace’s profile on LinkedIn to learn more about her professional background and impressive accomplishments.

Fresh Links – Mid-May 2020

A curated list of business, career and community links.

Forbes shares tips on how to improve your networking game on LinkedIn.

COVID-19 is offering unique opportunities for people who want to pivot.

T he new FORTUNE 500 rankings.

The latest Growth Report from Charlotte Regional Business Alliance.

Financial Modeling + Stress Testing

PwC surveyed 50 U.S. and Mexico finance leaders last week to gain insights into how COVID-19 is likely to impact their companies. 40% of the survey participants said they were facing difficulty in assessing the impact.

That difficulty is understandable. That said, now is the right time for CEOs, CFOs and other leaders to embrace the uncertainty and leverage financial modeling and stress testing to help in reassessing near-term priorities.

We can help.

Red Flags of Fraud

Croixstone Consulting joined forces recently with the Association of Certified Fraud Examiners (ACFE) as an official supporter of International Fraud Awareness Week. We were part of a global effort to minimize the impact of fraud by promoting anti-fraud awareness and education.

Do you know the most common behavioral red flags of fraud? Learn more by viewing this infographic with data from the 2018 ACFE Report to the Nations.

1 2 34