Our Impact

Our Difference is the Impact

PowerSource advises C-level clients and Board directors in solving problems and strengthening the effectiveness of core business processes. We bring hard-won acumen and commitment to teamwork and bottom-line restructuring developed in a variety of US and international settings. We’ve successfully restructured operating units both large and small in a variety of industries and geographies through aggressive cost controls, hands-on cash flow management techniques, and the formation of restructured business plans. These efforts enabled firms to move forwards based on their sustainable resources with reduced external funding requirements.

The following are few case studies that capture elements of the impact we’ve made.

Aptara Corp. - Ramping up a Startup for the Next Level

Background & Impact

Challenges

Results

Aptara Corp. ($70M revenue), a publishing services BPO, employed several thousand employees in multiple geographies: India, European, and USA locations.

Impact: Profit transformation & Balance Sheet Restructuring

  • Series A venture and private equity investors were nearing the final two years of their investment term with unsatisfactory returns.
  • The founders and executive team were operating at low profit margins, slow cash collection, weak business systems, and limited alternatives.
  • Moved company to standard PeopleSoft ERP platform, enabling movement and centralization of all internal accounting operations to Delhi, India. Company reduced costs of annual external audit by 50%.
  • Working Capital Financing: restructured Lines of Credit, improved internal and external monthly, quarterly, and annual reporting.
  • Acquired an eLearning business in Pune, India.
  • Averaged 70-days a year working in India,
  • CFO and General Manager of Aptara, including Controller, Treasury, HR, Legal, IT, and Administration.
  • Restructured Equity with new long-term investors and credit facility.
  • Continuous ‘clean’ external auditor assessments and timely external filings.

IBM Australia - Transforming a Billion Doller Company

Background & Impact

Challenges

Results

IBM Australia ($1B US) missed committed plans four consecutive years, was cash flow negative, and losing market share.

Impact:

  • Transformed performance and confidence in management execution (both internally and throughout IBM)
  • From weak to powerful Balance Sheet permitting first acquisition of a professional services firm
  • Weak understanding of supply chain requirements
  • Enthusiastic but early-career-stage sales teams
  • Measurements failed to show full story.
  • Proud Culture
  • Doubled profit margins.
  • Improved cash flow by reducing A/R days-sales-outstanding by 50%.
  • Enabled repayment of $200 million debt.
  • Led acquisition of professional services firm in New Zealand.
  • Repeatable, Definable, trusted execution.
  • Direct Reports included Controller, Treasurer, VP Planning, Sr. Director Pricing, Sr. Director Business
  • Controls, Import/Export Operations, Asia/Pacific Software Manufacturing, and Country Administration.
    Continuous ‘clean’ internal auditor assessments and timely external filings.

Motient - Making a Mobile Company Viable Again

Background & Impact

Challenges

Results

Motient ($100M revenue), formerly American Mobile Satellite Corp. was a public company with $1B accumulated Net Operating Losses, $500M of bank and high yield debt, and the share price was down from $15 to $3 per share.

Impact:

  • Engineered cash flow positive operations
  • Effectively communicated investment thesis to investors, resulting in strong price appreciation
  • Failed satellite mobile voice telecom business plan
  • High fixed costs
  • Recent merger with privately-held terrestrial wireless data service,
  • Poor communication to investors and limited understanding of strategic value proposition
  • Developed and implemented operational plan to bring cash outflows in line with growing, recurring revenue streams
  • Aggressive engagement with investors to explain strategic values and execution plan
  • Five-fold share price increase in six months leading to a $200M public equity round.
  • Leveraged value increase to acquire 100% of pre-launch XM Satellite Radio. Sold investments to General Motors, Honda, Direct TV, and other investors
  • Restructured company allowing spin-out of two subsidiaries, Lightsquared (formerly MSV) and Terrestar to pursue next generation 4G services.
  • Direct Reports included Controller, Treasurer, VP Planning, Sr. Director Pricing. Board member of MSV and Terrestar.
  • Continuous ‘clean’ external auditor assessments and timely external filings.

FARE - Making a Mission Driven Organization Effective

Background & Impact

Challenges

Results

FARE’s nonprofit mission is to improve the quality of life and the health of the 85M individuals impacted by food allergy in the USA.

Impact:

  • Restructured organization
  • Implemented Research-centric 5-Year strategy
  • Implemented KPI-based measurements
  • Revenues chronically exceeded Expenses in an unplanned manner.
  • Requiring unplanned releases from the strategic Investment Fund.
  • Board dissatisfaction with perceived under-commitment to Research to find therapies and diagnostics.
  • 30% staff reduction prior to investing in strategy-approved research growth.
  • Moved IT systems from server-based to cloud services, with an unintended consequence of FARE moving to 100% remote operations in March 2020 without interruption
  • Directly managed the Education team responsible for: launching a learning management system that attracted over 40,000 users in the first 12-months of operation, built a College & University database with over 1,000 institutions for teens and parents looking for food allergy friendly higher education destinations,
  • Conducted over 20 market research studies highlighting the impact of anxiety in the daily lives of parent and teens
  • Launched a mobile app to bring FARE-content into the hands of the 32M individuals with food allergies and the additional 53M individuals living with them.
  • Continuous ‘clean’ external auditor assessments and timely external filings.

Why choose our company

Problem Solvers

We partner with clients to boost your ability to solve critical and existential issues. We work with you so your team solves the problem, making the new direction lasting and supported internally rather than a ‘smart idea’ from a consultant.

Rich experience

We have broad and deep experience, as out Australian friends like to say, we’ve been there and done that. Every engagement is unique. Our rich experience permits us to get through the process of identifying alternatives, selection, plans, and implementation faster and with less risk.

Affordable

You will find the total project cost of engaging PowerSource affordable as we are not interested in charging hours – we get you to ‘problem-solved’ faster. We will consider ‘success-based’ fee structures as appropriate to ensure we are aligned with your goals.

Commitment

We fully commit our team to make your needs our top priority. Our goal is to leave you delighted and eager to make our relationship strategic.

Urgency

By the time you’ve engaged PowerSource, your need has already started to become urgent. We work fast and expect your team to collaborate so we solve the immediate issue while addressing the systemic process and system defects – in real-time.

Smart Techology

In many instances, your solution with require changes in your business process – potentially a transformative change. We believe smart cloud-based technology solutions must complement process change, while constantly seeking to enhance cybersecurity.

Client Endorsements

I worked with Bart as one of his bankers, for several years during his tenure as CFO of Orbcomm. I enjoyed working with Bart because he was such a straightforward, unflappable person. In a high risk start up like Orbcomm you needed an individual like Bart to maintain the right perspective whether it related to accessing the capital markets or looking at a fold in acquisition. He was extremely bright, hard working and a pleasure to work with. I recommend without exception. I worked with Bart as one of his bankers, for several years during his tenure as CFO of Orbcomm. I enjoyed working with Bart because he was such a straightforward, unflappable person. In a high risk start up like Orbcomm you needed an individual like Bart to maintain the right perspective whether it related to accessing the capital markets or looking at a fold in acquisition. He was extremely bright, hard working and a pleasure to work with. I recommend without exception.
JoeDonohue
Joe Donohue
Vice Chairman at DC Advisory
Bart is a sophisticated financial executive and advisor, with an impressive breadth of experience not only in the financial arena but also in managing other operational areas for both start-up and established companies, public and private, both new technology and brick-and-mortar companies. Bart brings a unique blend of inside and outside perspectives to clients, and I have always valued his mature, measured and insightful judgment as his peer and colleague
Randy Segal
Randy Segal
Space and Satellite Technology and Transactional Attorney
Bart was the CFO at Aptara when I was the CIO there. I have enjoyed working with Bart for about 3 years on several projects. Besides being great at his Accounting and Finance domain, Bart is an excellent guide and mentor. He is happy to look at the problem from a holistic perspective and get involved in each area to fix it. His cool demeanor makes it easy for issue resolution between teams. He is well planned and organized on large Enterprise projects.
Manish Buttan
Manish Buttan
CEO at Artificial Machines
Bart is a consummate professional and polished executive that will unequivocally add enterprise value to an organization. He demonstrates a unique blend of strategy in addition to the finest attention to detail. This combination provides unparalleled guidance, decision making, and execution. Bart makes an exceptional addition to any executive team and is highly recommended.
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Dave Wolcott
Serial Entrepreneur and CEO at Pantheon Investments
I vividly recall Bart’s first few months at Aptara as he hit the ground running to quickly understand our dual shore operations model, corporate culture and the publishing industry segments we served. Most importantly Bart immediately began to establish the needed corporate structure and processes to what was up to that point, multiple acquisitions operating in a primarily independent manner. I very much appreciated Bart’s collaborative approach as he and I worked closely to establish a viable operations model serving an industry segment that was under tremendous price pressure. I am very confident that Bart’s experience, insight and approach will have a positive impact on your unique business challenges.
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Mark Witman
Director, Key Accounts and Business Development at Graphics Universal, Inc.
I have know Bart both professionally and personally for over fifteen years. he is an experienced financial professional who has operated successfully in several challenging CFO roles. I have great respect for Bart's business and ethical judgment.
JayMeriweather
Jay Meriwether
Managing Director at Edgewood Advisors, LLC

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