Gemco – A C-Suite Impact CFOs Case Study

Gemco – A C-Suite Impact CFOs Case Study

Gemco is a design and engineering firm in Middlesex, NJ that manufactures vacuum tumble dryers and tumble mixers.  They are a family-owned company that has been in business since 1916.  Their products are currently being used in 37 countries.   

Casey Muench Bickhardt, President of Gemco, was looking for someone to assist with financial management and direction and was referred to C-Suite by Gemco’s executive coach, Dr. Jean Oursler “The Results Queen” with Caveman Brain. 

They decided to choose C-Suite because the CFO that C-Suite was providing, Steve Clark, had the right experience, and a personality that was a good fit for the company.   third-party vendor also endorsed Steve, verifying that he had the right skill set to turn the business around.  

The Problem 

Gemco had a host of issues that they were trying to solve including financials that needed to be tightened up, and a leadership team that had no direction in the accounting and finance functions.  No one was guiding the company strategically from a financial perspective, preventing the company from growing to their full potential.   

Steve Clark, CPA, MBA, and CFO for C-Suite Impact CFOs was brought in to help, and things began to turn around. 

Approach 

The foundation of Steve’s approach, and the approach of C-Suite, is to become a partner to the leadership of the company and to be a part of the team.  As Casey said, “Steve has embedded himself in the business in a way I could not have imagined.” 

Steve rolled up his sleeves and was willing to get his hands dirty for the company.  His role was to implement and execute fiduciary and strategic leadership, and that is exactly what he did.  Communication, resourcefulness, and strategic guidance by Steve began to make immediate improvements in the business.  

In addition to Steve’s guidance, Gemco was able to access all of C-Suite’s network and resources.  Casey described it this way: “When you work with C-Suite Impact you also have access to their entire network which runs wide and deep.” 

Results 

Steve exceeded Casey’s expectations by not only making improvements that made C-Suite’s services cost neutral, but also by his ability to work with the team, and to work with women.  Steve’s personality was a perfect fit for Gemco, and he became a strategic partner.  

Gemco’s accounting and finance team now has the fiduciary leadership and guidance that they had been lacking.  The business has improved, and Casey’s work life balance has also improved.  She has a partner that she can count on, and a sounding board to discuss not only financial strategy, but the overall business strategy.   

Casey summed it up in a message that she has for other companies that need strategic guidance. 

“You have no idea what you are missing without a partner like C-Suite, and you will be surprised at what you gain. An accounting and finance team is not strategic; they are tactical. Their roles and responsibilities are about what’s already happened and represent a historical representation of your business. When you need resources and want the vision for your business to become a reality, you need to think strategically. You need a partner.  Steve is strategic and knows strategy. He keeps everyone in their swim lane.” 

Find Out How C-Suite Impact CFOs Can Help Your Company 

At C-Suite Impact CFOs, our team has a broad range of knowledge, skills, and experience and can help your business as a strategic partner.  We have a suite of resources in our portfolio that you can access as well for all of your business needs. Impact CFOs will provide ongoing guidance and support for the health and growth of your business.  Call us today to learn more. 

 

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