The Challenge
Sage is a large international academic publisher of books, journals, and digital library resources. With rapid growth and an expanding range of technology products supporting discovery, access, and academic engagement, Sage required a strong financial foundation to keep pace with its global operations. When the new International CFO based in London, took on the role, he identified urgent issues within the U.S. division: The financial team lacked expertise in U.S. GAAP policies and methods as well as international tax law. The U.S. financial team suffered from low morale, with performance declining further. Division presidents felt the finance team was unresponsive and unhelpful, often generating confusing accounting reports and failing to support operating management. Monthly financial statements were confusing, and the FP&A (Financial Planning & Analysis) team provided little actionable guidance. Despite having plenty of cash reserves, the new International CFO lacked adequate cash flow projections and processes for proper cash investment.
The Solution
Chuck was brought in to stabilize and restructure the U.S. financial function:
- Implemented U.S. GAAP-compliant policies and reporting methods, ensuring accuracy and consistency in financial statements.
- Reorganized the financial planning and analysis function, shifting focus from reporting to actionable business insights addressing division managements information needs.
- Worked with division presidents to bridge communication gaps between finance and operations, rebuilding trust, and collaboration.
- Introduced cash forecasting and investment processes, giving leadership clarity and confidence in capital deployment.
- Addressed team morale issues by creating processes that empowered staff and aligned them with Sage’s global financial strategy.
The Outcome
With Chuck’s intervention, the company strengthened its U.S. financial operations, bringing reporting into compliance while building confidence, clarity, and collaboration across departments and especially with division presidents. Cash forecasting and investment processes enabled the company to use its capital strategically, while improved FP&A created a financial team that supported — rather than hindered — business growth.
