The Role of Outsourced Financial Management in Manufacturing Success with Jason Kruger

Connect with Jason Kruger

• LinkedIn: Jason Kruger at Citrin Cooperman
• Email: jkruger@citrincooperman.com
• Website: citrincooperman.com

In this episode of The Manufacturers Network Podcast, host Lisa Ryan sits down with Jason Kruger, a partner at Citrin Cooperman. Jason shares his expertise in empowering manufacturers with real-time financial insights to bolster profitability and streamline operations. The discussion dives deep into financial management, exploring the importance of accurate accounting, cash flow management, and leveraging outsourced financial services. Jason offers invaluable advice on navigating the financial complexities of the manufacturing industry, providing listeners with practical strategies to ensure long-term success.

Key Themes and Topics:

1. Importance of Real-Time Financial Insights:
2. Understanding the power of real-time financial data for making informed strategic decisions in manufacturing.
3. Outsourcing Financial Management:
4. Exploring how fractional CFOs and controllers can offer cost-effective, high-level financial expertise without the overheads of a full-time hire.
5. Cash Flow Management:
6. The critical role of managing cash flows, especially in inventory-heavy industries like manufacturing, is to avoid cash shortages.
7. Financial Metrics for Success:
8. Identifying the key financial metrics that manufacturers should focus on to ensure long-term growth and sustainability.
9. Navigating Growth Challenges:
10. How manufacturers can overcome the financial complexities of rapid growth, utilizing systems for accurate inventory tracking and financial reporting.

Lessons Learned:

• Outsourcing as a Strategy:
• Outsourced financial management can help manufacturers access top-tier financial expertise while managing costs.
• Communication is Key:
• Maintaining strong communication channels, especially with remote teams, is crucial for effective collaboration and achieving financial goals.
• Proactive Cash Management:
• Keeping a close eye on cash flows and inventory can prevent financial pitfalls and enable businesses to capitalize on growth opportunities.

Fun Facts:

• Jason Kruger started a company during the 2008 financial crisis, which has since evolved into a key division within Citrin Cooperman, demonstrating resilience and adaptability.
• Host Lisa Ryan compares manufacturing finance to the popular TV show Shark Tank, highlighting the crucial role of understanding financial metrics in pitching to any investor—even a shark!

Keywords: Manufacturers Network Podcast, Jason Kruger, financial insights for manufacturers, Citrin Cooperman, real-time financial data, outsourced financial management, cash flow in manufacturing, inventory management, manufacturing finance, financial metrics, fractional CFO, optimizing manufacturing profitability, manufacturing growth challenges, financial reporting systems.

Connect with Jason Kruger:

• LinkedIn: Jason Kruger at Citrin Cooperman
• Email: jkruger@citrincooperman.com
• Website: citrincooperman.com

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