CASE STUDIES:

Founded in 1988 by Michael Sneddon and a partner, MultiLing defines and drives best practices for advanced multinational translations. The company’s unique model combines highly specialized translators, a centralized management process, terminology management, quality control and proprietary technology to ensure accurate, highly specialized and secure translation for global enterprises with highly technical demands.

Many of the world’s largest companies and global enterprises such as Dell, IBM, GE Healthcare and Procter & Gamble trust MultiLing to translate their most important documents. Through its global network of specialized translators, MultiLing provides its clients with comprehensive translation services in any language they request. The company has even translated extensive technical patent documents into Uzbekistani and Moldavian!

Industries

Retail, Consumer Products, Electronics, Manufacturing, Distribution.

Challenge

Engage a partner to assist with cash flow and growth challenges.

Advanced CFO Solution

Implementation of inventory and purchasing controls, securing growth capital.

Continued Success

MultiLing is growing and is poised to achieve double-digit annual growth while upgrading its product mix and proprietary translation technology.

CHALLENGE

MultiLing had grown slowly and methodically during its first 23 years of business but Michael was ready to accelerate growth and expand operations but they did not have a scalable infrastructure in place to feel confident in their ability to manage the growth.

SOLUTION

Advanced CFO provided a part-time CFO who quickly evaluated the company’s accounting team, technology, processes and controls and made recommendations, then helped them implement his suggestions. This process resulted in a streamlining of the company’s transaction processing and in providing more timely and accurate information about its global operations and at the same time improving gross profit margins and cash flow management. During this process Advanced CFO helped MultiLing increase their working capital line of credit - closing a loan with a new bank in just nine days! In addition, Advanced CFO helped MultiLing prepare for an equity investment by making an introduction to Frontier Capital in 2012 that resulted in a $10.3 million growth capital investment in August of 2013. Advanced CFO also assisted in the due diligence process and in negotiating the terms of the financing.

Following the successful equity investment, Mr. Sneddon said, “With [Advanced CFO] you get impeccable performance, all the time, every time. After [our consultant] worked his magic, every aspect of our financial processes was improved, if not automated. During due diligence our equity partner said our books were some of the best they had ever seen!”

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