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Budgeting and Forecasting
Steve Spitzer, a partner in turnaround restructuring, discusses the importance of forecasting, cash management, and vendor management in restructuring processes. He emphasizes the criticality of a 13-week cash flow forecast and a 3-5 year business plan for understanding liquidity and capital structure. Spitzer highlights the need for regular variance analysis and a liquidity buffer in forecasts. He also stresses the importance of vendor management, including communication plans and supplier management committees. The discussion includes the role of the cash czar, the board's involvement, and the necessity of maintaining a low risk appetite during restructuring.
Stephen is a results-driven executive with over 20 years of management and consulting experience.
His operational experience includes acting as the senior financial executive for a division of a multibillion dollar direct marketing and media company, interim treasurer for a publicly traded manufacturing company, and CFO for a private equity backed magazine publishing company.
He has experience in establishing financial control policies and procedures, developing long range business plans, designing management reporting tools, and creating liquidity forecasts. Stephen has spent the last 10 years as a consultant providing restructuring leadership and investment banking services for companies in the media, direct marketing, entertainment, manufacturing, and telecommunications industries.
Steve has experience navigating both debtors and creditors through the challenges of a restructuring process.
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