Case Study: CCN Supports Magnolia River Finance & Accounting Team

CFO Chantelle Miner began the sale process of Magnolia River to Warren Equity Partners in 2020. Shortly after the deal closed, a long list of portfolio acquisition requirements coincided with the resignation of her Controller and Assistant Controller. This pushed Magnolia River’s accounting team into “a tough spot.” Warren Equity referred Chantelle to Cox Consulting Network, beginning a key partnership for their finance and accounting department.

Providing critical support during a portfolio integration period

In early 2021, CCN provided a Knowledge Bridge consultant within 24 hours to sit with the outgoing Controller and Assistant Controller and document their day-to-day and close cycle responsibilities. Additionally, CCN provided two resources within 48 hours to plug in as interim consultants for the vacant positions. CCN phased out as the team hired permanent replacements but remained in close contact as a valuable safety net.

Sourcing an interim Controller to fill an important gap

In 2022, Chantelle again reached out to CCN for an interim Controller to fill an essential gap amidst the complex demands of a growing business. She wasn’t just looking for anyone; she wanted a qualified consultant that would fit their tight-knit culture. Both with interim and permanent team members, Chantelle explained that her company has high standards for cultural fit. They have a respectful, collaborative environment and take culture very seriously.

To fill the gap and keep things moving, CCN quickly responded, placing consultant Jeri Day in the interim controller role in less than 48 hours.

“I really couldn’t have survived it without our consultant from CCN. It’s truthfully allowed us to be diligent in our search process, both from a technical standpoint and as a cultural fit. She filled the roll, and we’ve not missed a beat while we were looking.”

Since then, Jeri has been responsible for managing the team and month-end-close to support financial reporting. Overall, the accounting team is self-sufficient, but she’s been able to provide direction, guidance, and support wherever needed.

“Jeri has been very consistent both from an accuracy and timeliness perspective. That gives us a chance to review, analyze, and understand the data so I can communicate intelligently about it with the senior leadership team on a high level. We have really improved from where we were before she came.”

In addition to filling gaps in controllership, Jeri has improved processes and communication within the accounting team, holding team members accountable without overstepping. Thanks to CCN’s reliable interim controller support, the CFO could also take her time identifying the perfect fit for their new permanent-hire controller.

“My previous experience caused me to question my standards for the role. I was very concerned; does this person even exist? Jeri has redefined my expectations. She truly makes my job easier and allows me to perform at an even higher level — it’s really been a breath of fresh air all around.”

A partnership defined by quality and responsiveness

Chantelle quickly pointed to the quality of CCN’s consultants as a key differentiator from other consulting firms. Most other firms take several days just to schedule a discovery call, whereas CCN has consistently made themselves available whenever Chantelle has needed them.

Chantelle has been “more than pleased” with CCN’s proactive communication, timely invoices, and clear communication on hours. Ultimately, having quality consultants available at a moment’s notice has enabled her to look at large transactions and tactical shifts with a strategic mindset rather than a reactionary mindset.

“I’m so thankful to have a partnership with CCN. I certainly sleep better knowing I have them available for any future needs that come up. That’s changed the game for me in a lot of ways.”