“My only regret is that we did not find you sooner.”
— David Schlosser, Owner
“You came in and in a professional and efficient manner gave us systems that put us in control of our overhead allocation, daily scrap reports, operator efficiencies and much more. Most important, we now have a precise knowledge of our gross margins and I can see that our profitability will increase from that one improvement alone.”
— Admiral Engineering
“Many professionals have worked with us, offering much needed assistance, with varying degrees of success. EFM stands out in this regard because you not only determine what to do and how best to accomplish it, but you roll up your sleeves and do it. Your broad knowledge and keen insight in financial matters has made you a long time and trusted advisor at Bloomfield Press.”
— Alan Korwin, Publisher
“I have been impressed with your professionalism and would recommend you to anyone with financial information needs.”
— Brad Harper, President, Trigon
“Every organization touts the level of unequaled service that it provides to its clients. Unfortunately, this level of purported service does not always exist. I am writing you to let you know that I have had the pleasure of experiencing this type of service from you and your organization.”
— Stephan A. Bair, D.O.
”Of particular importance to us is your ability to collect and evaluate financial information, then use it to identify the problems we need to resolve, and make suggestions for improvements based on your observations. When I need a one-page summary, you cut to the chase and deliver.”
— Color Design, Inc.
”I like working with you and you interact well with me and my staff, which is a real plus.”
— Harry Bradford, Owner
Partial list of accomplishments and client testimonials .
|Financial Management Clients:||Professional Healthcare Organizations:|
| Admiral Engineering
Brady’s Interior Design
Chambers Moving & Storage
Computing Information Services
D & H Express
Photo Pro Plus
Western States Petroleum
| Steve Bair, DO
Kirk Bingham DC
Robert Flake, DPM
Roger Nutt, MD
Stan Reidhead, DDS
Ed Smith, MD
UCLA School of Medicine
EFM Typical Accomplishments
- Served as expert witness and provided critical forensic accounting evidence that proved instrumental in getting a $889,000 judgment against embezzler for one client.
- Overhauled cost accounting information process and data collection process for machine shop.
- Created, then implemented complex, standard cost information system for 6,000 different bills of material, facilitating revenue growth from $5 million to $20 million, while profit margins jumped 350% and manufacturing variances dropped 60%.
- Negotiated $2 million Line of Credit for client.
- Rescued client from brink of bankruptcy by enforcing stricter accounting and control practices in AP and AR, which dramatically improved cash flow, while negotiating payment plans with dozens of angry, unpaid creditors.
- Designed departmental financial information system at the UCLA School of Medicine that dramatically improved department efficiency allowing $65,000 in annual budget reduction.
- Created entire accounting package including general ledger and financial statements using spreadsheet applications for company whose accounting records were originally three years behind.
- Improved information access by simplifying financial information for non-financial managers.
- Implemented daily accounting process routine for company that was formerly impossible to audit.
- Restructured salesman commission rate to reflect reality, saving $100,000 annually.
- Created one page summary of essential operating information and trained personnel how to use format.
- Streamlined monthly closing process from 15 days to only 7 days with half the accounting staff.
- Reduced supplies expenditure by $40,000 after taking over management of internal Network Administration.
- Modified computerized accounting system to provide YTD numbers for line item revenues and expenses.
- Created and implemented market-based salary range plan for 65 people.
- After negotiating an additional $35,000 payment from the customer to resolve his delivery problem, the customer said, “It is a pleasure doing business with you.”
- Improved and documented entire shop floor reporting procedure for manufacturer.
- Lowered over-60 day receivables from 34% to 16% of the total outstanding accounts by creating a more reasonable credit policy and tightly enforcing that policy.
- Changed the method of measuring inventory usage, simplifying reporting, improving accuracy and reducing $40,000 of annual unfavorable inventory adjustment.
- Set up sweep account to significantly improve cash management.
- Negotiated long-term OEM contracts with two major vendors that lowered annual vendor prices $200,000.