Video Conversation with Fred Coon (View Below)
Steve Waller achieved his goal by simultaneously expanding company position and recognition as a national lender in the banking and automotive sectors, and more. I wanted to learn how Steve approached solving this very complex financial and restructuring issue. I think his solutions are outstanding. Let’s start from the beginning.
Steve’s client was experiencing significant margin compression in new products sales. As Steve told me, “the CFO needed to offset this pressure by significantly decreasing administrative costs. A successful transition would also generate an annual corporate payments incentive of $2 Million+. Additionally, the CFO did not feel the lead lender (an internationally recognized banking giant) was treating them a valued client and failing to provide recommendations on innovative products and services.”
Steve’s plan included proactive discussions to create a desire for change within the client’s executive team. “Research and analysis of the client’s financial reporting, a review of their vendor’s products and services; and their competitive positions within the industry confirmed a significant opportunity for both companies. Uncovering and discussing these areas helped me build a strong personal and professional bridge between the executives of the organizations with my company becoming the trusted advisor.”
The bottom line is what counts; and here it is. “Eighteen months after the efforts began, my bank took over the lead position within an expanded $2.5 Billion banking credit facility. This role resulted in our additional income and fees annually of $2 Million+. My bank is now either leading or has significantly expanded its leadership role in the largest groups in the automotive sector. Meanwhile, our client achieved $1 Million SG&A reduction objective, implemented a $2 Million+ annual corporate payment services incentives program, and they fully believe they are with a partner that values them as an important client.”
Have complex corporate banking or finance issues? I know Steve will be happy to discuss solutions with you.
Contact Steve Waller via LinkedIn or his Career WebFolio. He can also be reached through email: stevejwaller@gmail.com.
Watch entire video interview below
Fred Coon, CEO
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