Episode 9

full
Published on:

13th Jan 2025

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

Connect with Jason Kruger

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@citrencooperman.com
  • Website: citrencooperman.com

#ManufacturersNetworkPodcast #JasonKruger #FinancialInsightsForManufacturers #CitrinCooperman #RealTimeFinancialData #OutsourcedFinancialManagement #CashFlowInManufacturing #InventoryManagement #ManufacturingFinance #FinancialMetrics #FractionalCFO #OptimizingProfitability #GrowthChallenges #FinancialReportingSystems

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About the Podcast

The Manufacturers' Network
Connecting Manufacturers with Manufacturers
The Manufacturers' Podcast is THE place for manufacturers to connect with and learn from other manufacturers. Not only will listeners get to learn from their manufacturing colleagues, but they will also discover HOW they can help each other as a resource or as a source of help and inspiration.

As a manufacturer, it's easy to get pigeon-holed into only focusing on your own industry, whether it be through your industry trade association or your industry colleagues. While trade associations are an excellent source of information for their members, sometimes it's gaining a perspective from someone else in a completely different industry that gives you the solution to your dilemma.

Stay tuned for new episodes every week on "Manufacturing Monday's." This drive-time length podcast will give you the information, tips and strategies you need to get your week off to a fantastic start.

About your host

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Lisa Ryan

As a Certified Speaking Professional (CSP), an award-winning speaker and author of ten books, Lisa Ryan, CSP, works with her clients to develop employee and client engagement initiatives and strategies that keep their top talent and best clients from becoming someone else’s.
Lisa’s expertise includes: strengthening workplace culture, improving employee engagement, increasing customer retention, and initiating gratitude strategies (“Grategies”) for personal and professional benefit. Lisa’s participants enjoy her high energy, enthusiastic delivery and quick wit and they leave the session with ideas they are committed to acting on immediately to make positive workplace culture changes.
Lisa costars in two films with other experts including Jack Canfield of “Chicken Soup for the Soul.” She is the Past-President of the National Speakers Association, Ohio Chapter and holds an MBA from Cleveland State University.

Relevant Experience

• Keynote, breakout or workshop speaker at more than 100 national and international conferences
• Thirteen years of industrial marketing and sales experience, including seven years in the welding industry – and yes, she does weld
• Host of “Elevate Your Engagement Levels: What You Need to Know” on the Elite Expert Network and the C-Suite Network
• Creator of “The Seven Mistakes Managers Make to Crush Company Culture” video series
• Best-selling author of ten books, including “Manufacturing Engagement: 98 Proven Strategies to Attract and Retain Your Industry’s Top Talent”
• Award-winning speaker