Oliver S.-Executive Interim CFO | Finance Transformation | Performance Management

Food

I took over the leadership of the Controlling department at Ströck GmbH at short notice. Accounting and Controlling report directly to the management team. In addition to overseeing day-to-day Controlling activities, I was responsible for developing reporting and setting the strategic direction for Controlling. At the start of the engagement, the Controlling department had only four employees instead of eight. Given the staff shortage, I first ensured that key reports were delivered on time while developing a new reporting structure.

Another key focus of my engagement was introducing a Single Source of Truth. Existing reporting was based on numerous Excel files and different source systems. I therefore worked with IT to drive the introduction of a modern BI system. Reports will be generated automatically with Qlik Sense, providing a consistent data basis for management decisions. Together with the management team, I also developed a completely new production reporting system that enables weekly production management based on defined efficiency metrics. At the end of my engagement, I supported the search for my successor, trained the new Head of Controlling, and helped rebuild the Controlling department to eight employees.

Actions:

• Interim leadership of Controlling
• Ensured day-to-day reporting continued
• Introduced a Single Source of Truth
• Introduced Qlik Sense
• Built a new production reporting system
• Developed the reporting landscape
• Supported recruitment
• Handover to the new Head of Controlling

Achievements:

• Maintained Controlling despite a 50% staffing shortage
• Introduced a central data basis for reporting
• Digitized reporting with Qlik Sense
• Developed a new weekly production reporting system
• Successful handover to my successor
• Rebuilt the Controlling department to eight employees

As interim CFO, in addition to leading the finance function, I played a key role in preparing the 2025 budget and the 2024 forecast. During my engagement, I also substantially automated the existing reporting process to significantly improve the transparency and efficiency of financial reporting.

In addition, I developed a comprehensive cost accounting concept to support more precise management of company resources. I also carried out a detailed profitability analysis of the individual business areas to assess their financial performance and identify specific opportunities for improvement.

Actions:

• Day-to-day leadership of the finance function: Despite the loss of 3 employees in the finance department, equal to 50% of its workforce, processes and operations continued steadily and without disruption.
• Preparation of the 2025 budget: Developed a comprehensive, forward-looking plan.
• 2024 forecast: Prepared well-founded forecasts for the upcoming financial year.
• Automation of reporting: Introduced new technologies and processes to increase efficiency and improve transparency in financial reporting.
• Developed a cost accounting concept: Built a system for precise management of company resources.
• Conducted a profitability analysis: Analyzed individual business areas to assess financial performance and identify opportunities for improvement.

Achievements:

• Increased transparency and efficiency: Substantially improved reporting through automation.
• Improved resource management: Introduced precise and adaptable cost accounting.
• Strong basis for decision-making: Prepared a detailed profitability analysis to support targeted growth and efficiency initiatives.
• Forward-looking planning: Developed a realistic budget and reliable forecasts for 2024 and 2025.

Built a consolidated revenue database for the group (4 subsidiaries). Also developed a tool to enable consistent reporting across all 4 companies and group consolidation. This made reporting more transparent and effective.

Revised the existing reporting system and provided ongoing support for monthly reporting, budgeting, and annual financial statements. Business partner to the managing director.

Developed a product costing model.

Bravo Group is an international company that manufactures metal roof tiles and is one of the leading suppliers in the DIY market in Europe. The holding company is based in Vienna, with subsidiaries in Romania, the Czech Republic, Germany and France.

As CFO of Bravo Group, I was responsible for establishing a financial holding structure. Through my work, reporting was standardized, significantly reducing reporting timelines and clearly improving quality. My other responsibilities included standardizing and optimizing the budgeting process, cash flow planning, transfer pricing documentation, consolidation and preparing the annual report.

I also supported the local finance managers in optimizing and developing their local finance organizations. In particular, I was responsible for setting up the finance department and implementing an ERP system at the French subsidiary. In addition, I supported the company in its search for a new investor, conducted a Vendor Due Diligence and coordinated the financial and tax due diligence.

Actions:

• Established a holding structure with standardized reporting and budgeting processes, prepared group-level cash flow forecasts and prepared consolidated financial statements in accordance with IFRS
• Supported the due diligence process

Achievements:

• Reporting became much better structured and more informative
• Establishing the holding structure significantly improved the management of the operating entities in Romania, the Czech Republic, Germany and France.

Client quote:

“Oliver Strass was a key member of our leadership team and made a significant contribution to the company’s success.”

Adrian Minuta, CEO Bravo Group

As Finance Manager, I successfully supported a project to transition to IFRS and implement SAP Profitcenter-Accounting, as well as a change to the cost of sales method, the harmonization of FI/CO and the introduction of a new internal management system. With my contribution, the project schedule was significantly exceeded within four months.

A company in recruitment and temporary staffing faced the challenge of adapting its processes and workflows to a rapidly growing organization. As part of an initial assessment, the processes and systems were documented. A target state was then defined, bringing workflows and technologies to a new level. The right ERP software was subsequently selected and implemented.

Actions:

• Analyzed the finance organization and workflows
• Analyzed workflows together and assessed potential improvements
• Evaluated ERP software

Achievements:

• Selected the software (BMD)
• Planned the implementation and successfully delivered it

I was responsible for finance and controlling at the Austrian branch of an American company in the medical industry. During this project, I not only completed a SAP integration but also successfully managed day-to-day operations, including US GAAP reporting, budget-to-actual comparisons and variance analyses, forecast and budget preparation, and the optimization of processes and reporting.

Measures:

• Interim Head of Finance
• Ongoing reporting
• Budgeting
• SAP integration of two companies

Achievements:

• Successful implementation of the SAP integration in terms of both timing and budget
• Process optimization
• Introduction of new travel expense software (Concur)

Established a project team and project plan for the successful integration of an acquired company together with the internal project manager. Responsibilities were defined, and a project plan and milestones were set. Reporting was also developed to monitor project progress on an ongoing basis.

This company manufactures high-resolution cameras. As part of the introduction of new accounting software (BMD), a corresponding cost accounting system and, subsequently, a management information system were also to be set up. The requirements for the MIS were defined in a workshop, and the structure for cost accounting and reporting was then developed. The challenge was to define and successfully map the interfaces with the other software systems (materials management, time tracking and payroll).

Industry: Chemical industry

• Finance
• Group consolidation
• Cost accounting
• Strategic projects (M&A)
• Accounting
• Controlling
• Risk Management
• Legal

Industry: Automotive industry

• Ongoing cost accounting and controlling
• Budgeting
• Preparation of annual financial statements
• Monthly reporting
• Investment analysis
• Liaison with banks and funding agencies