Interim SVP of Finance transforms operations and retains talent for leading PE-backed Healthcare company

Challenge

A leading PE-backed healthcare company experienced workforce turnover and a stagnated data transformation project, which was initiated to align critical financial data with operating metrics. The company’s CFO sought an interim SVP of finance with strong leadership skills and a passion for fostering talent. The primary goals of the engagement were to stabilize employee morale, advance critical business projects and implement strategic processes while conducting a search for a permanent replacement. 

Solution

Leveraging an established relationship with the company’s CFO, Highspring engaged an interim SVP of finance with over 20 years of financial, technical and leadership experience. The interim SVP of finance quickly demonstrated a versatile management style by prioritizing in-person meetings for a primarily remote workforce, and fostering relationships and trust through career development conversations and personalized growth plans.  

Drawing on extensive experience with data transformation projects, the interim SVP of finance identified inefficiencies and streamlined the initiative. Furthermore, a clear plan to integrate financial data and operating metrics into a unified data warehouse, leveraging Power BI, was developed to deliver enhanced insights for the organization. 

Outcomes

The interim SVP of finance’s swift approach resulted in the retention of all at-risk employees and a notable improvement in team morale and inter-department collaboration. Effective strategies were implemented to reduce unnecessary meetings and a culture of collaboration and continuous feedback across the organization was established. The data transformation project, which had been ongoing for nearly nine months, was completed in just five weeks at approximately 30% of the anticipated cost.  

Additionally, the interim SVP of finance successfully migrated the organization  into a system of record improving the process and documentation for budgeting, month-end close, earnings calls and monthly business reviews with key stakeholders. These achievements strengthened the organization’s internal brand with the office of the CFO and resulted in the interim SVP of finance being offered the full-time position.