Interim Executive Management - Deluxe Corporation (DLX)
Over the course of 57 months, Gray Cat was contracted to become the interim Executive Manager for seven (7) divisions of Deluxe/Safeguard company-operated markets. Revenues from these markets were nearly $50 million and spanned the entire United States. Interim leadership ranged from seven months to three years per market and Gray Cat was assigned either market assets held for re-sale or distressed markets due to a void in onsite leadership. Gray Cat’s role was to transform the business in preparation to either be sold to a distributor or transitioned to an employee-based general manager.
After meeting with each of the departments (operations, marketing, sales, production and warehousing), and an overall Strategic Business and Assessment Plan was developed on behalf of the division. The Plan included:
- The development of internal routines that enhance collaborative communication
- A thorough review of the P & L with recommended enhancements to profitability
- Creation of a sales forecasting tool
- Development and management on ongoing Key Performance Indicators (KPIs)
- A detailed action plan to drive sales and margin in two ways:
- Selling more and with a greater margin to existing customers
- Actively soliciting new customers into the fold
- Revamping an inefficient system of processes
- Development of financial metrics to include a daily sales flash, revamped P & L statements, and financial Proforma’s
In the end, results matter. What initially started as a one-market, six-month project expanded into a 7-division, 43-month series of contract renewals. Improvements were across the board in revenues, expense reductions and bottom-line profits. In one case, Gray Cat turned a net loss division into a 7-figure profitable entity.
“John Matthews, President & CEO of Gray Cat was a significant and positive contributor to our business. His vast experience in multiple businesses, channels and verticals serves him well as he navigates different business situations. There are not many scenarios that John has not faced….and for us, he dealt with them successfully. He is realistic, flexible, consistent, transparent, tactful, and successful. We would not have been able to achieve our positive results without John’s contributions.”
– J.J. Sorrenti, former President, Safeguard Business Systems, a Deluxe company and current CEO at Best Life Brands