Winter Harbor LLC

Speed Commerce Operating Co.

Fulfillment Solution Provider Restructures Under New Operating Name

 

Speed Commerce Operating Company is a single-source provider of fulfillment solutions, customer engagement services and order management technology for retailers and manufacturers. Designed around the customer's needs, Speed Commerce's solutions help brands streamline operations, leverage technology, and find greater efficiencies. Services include: order and inventory management, pick, pack, and ship, freight management, returns processing and 24/7 customer care. Speed Commerce generates $125 million in revenue each year.

Our Role

Winter Harbor was hired to serve at Interim Chief Executive Officer and Chief Financial Officer to guide Speed Commerce through a financial restructuring, specifically reducing account receivable balances with key vendors.

  • Analyzed both the E-commerce and distribution business segments in order to identify weaknesses and areas for operational improvement.

  • Evaluated and analyzed the Company’s forecast, including a detailed review of the underlying assumptions.

  • Performed daily cash analysis and treasury and cash management for the Company.

  • Developed a 13-week cash flow model to project the Company’s borrowing needs.

  • Provided improvements in cash management with regards to efforts to reduce A/R.

  • Renegotiated contracts with clients and customers to improve profitability and cash flow to the Company.

  • Assisted with the foreclosure of Speed Commerce and the transfer of assets to their new business entity - Speed Commerce Operating Company.

Engagement Outcome

Our principals served as Interim Chief Executive Officer and Chief Financial Officer for Speed Commerce (later Speed Commerce Operating Co.). We were engaged to oversee Speed Commerce’s e-commerce and business distribution segments, and identify weaknesses and areas of operational improvement. We evaluated the Company’s available capital and developed a 13-week cash flow model to anticipate Speed Commerce’s borrowing needs. We provided cash flow recommendations with regards to reducing their accounts receivable. We led contract renegotiations with clients and vendors to improve profitability and net revenues to the Company. Winter Harbor remains engaged and continues to assist Speed Commerce Operating Company with their business development initiatives.