What other professionals say about Jim

February 3, 2017 To Whom It May Concern; As an owner of a growing technology business for 30 years I had often attributed our success to my leadership, marketing, sales and “Financial” expertise. While I have always been deeply involved in every aspect my company’s financial dealings, I never knew how much I did not know until I hired Jim Schuck as our outsourced CFO! Jim had impressed me from the day he started and began reviewing our company’s operations. The review was not related only to our finances, but more so he took a holistic interest and the time to learn about every aspect of our business; from sales, operations, employees and of course finances. Although Jim had not specifically worked with other IT companies, he was able to quickly understand our business and our industry, along with the unique cost centers and revenue sources which made our business unique. Within a very short period of time Jim was able apply a significant array of his financial modeling tools to specifically analyze, associate allocate our expenses directly to each of our revenue centers. He was then able to identify every area where we were profitable, as well as those which were not operating as profitably/efficiently or losing money. Even though our business overall was very profitable, Jim was able to pinpoint those areas which were actually losing money but were being masked by our overall positive performance. He demonstrated how we could modify operations to minimize those areas generating loses and significantly streamline and improve operations and our profitability! Equally important to me as an owner, Jim implemented controls and created custom spreadsheets which enabled me to monitor performance, identify any area where profitability was going “off the rails”. Along with these controls, Jim continued to provide ongoing guidance and practical advice so that we were able to continue to effectively use the tools he created. Jim also possess the rare talent lacking with most financial people, being able to present and explain everything in layman’s terms that I could understand! As a side benefit, through all of Jim’s efforts and with financial expertise we were able to demonstrate our company’s value and financial controls to our banker and to the company who ultimately acquire us. I would strongly recommend Jim to any business owner, like myself, who is looking for more than an accountant or bookkeeper. If any business needs a seasoned financial professional that combines financial expertise with the operational and business insight to help your company improve its financial performance, grow or obtain financing or be acquired, Jim’s services would be a worthwhile investment!

Harry Srolovitz
CEO
Praxis Data Systems

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