Enterprise Software Company


  • Reduced monthly operating expenses from $6 to $1 mil
  • Led company from cash crisis to EBITDA positive cash position
  • Grew top line by 25%


Global enterprise software company in the Human Capital Management space with more than 720 customers in 15 countries

Business Challenges on Arrival

  • The Company had burned through $60 million in the prior two years, had an ongoing monthly burn (net) in excess of $3.5 million, and had less than four weeks of cash left
  • $4 million of non-renewable term debt maturing in two months
  • An undisciplined culture with no financial controls, a headcount of approximately 400, the wrong strategy (to build an exchange for human labor), an obsolete technology platform, and products that did not work

Actions Taken

  • Rationalized the product lines and streamlined the management team thereby eliminating a lot of unnecessary overhead and inefficient processes (headcount reduced from over 400 to under 100)
  • Built integrated business plan across all functions and put metrics and reports in place to measure results and hold everyone accountable
  • Established incentive compensation structure to drive behavior and create a performance culture
  • Established a go-to-market agreement with Accenture, and a global marketing alliance with Microsoft
  • Signed a European distribution and services partnership with a UK public company
  • Led the strategic acquisition of another software company, thereby achieving a market-leading position
  • Low margin legacy solutions were “sunsetted” and run on a cash harvest basis


  • In only 16 months the Company became EBITDA positive
  • Reduced total operating expenses from $6 million per month to $1 million per month
  • Grew the Company’s top line by 25%