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RUEN
Financial consulting · growth · transformation · crisis management

Financial solutions
for business growth, transformation
or crisis recovery.

I help owners and executives build the financial processes they are missing, understand the economics of their business and make informed decisions during growth, new business launches, transformation or crisis. I work on both project-based assignments and ongoing financial support.

Discuss your business challenge → View services
Karina Sigaryova
15+
years in finance, FP&A and business partnering
≈ USD 150M
maximum P&L under management
5+
industries of hands-on experience
Who I work with

Typical business problems I help solve

  • There is an accountant / finance specialist, but no transparent management system
  • It is unclear where the business actually makes money
  • Revenue is growing, but available cash is not
  • Cash gaps or liquidity pressure arise
  • Financial processes need to be built from scratch
  • The company is scaling or undergoing transformation
  • The business is going through a difficult or crisis period
  • A new product, business line or market is being considered
  • It is unclear how market changes will affect the business
  • Owners or the management team are not aligned
  • Managers do not understand financial reporting
  • Ongoing CFO-level support is needed
Services

Ways of working

Project work, ongoing support, crisis management, strategic sessions and team training.

01Core project

Financial diagnostics and business review

A comprehensive review of the company’s financial model: an independent assessment of its current position, profitability, cash flows, risks and growth opportunities.

Examples of assignments and projects

  • Assessment of the business’s financial position
  • Analysis of P&L, cash flow and key metrics
  • Profitability assessment by product, customer, channel and business line
  • Cost structure analysis and identification of financial leakage
  • Analysis of working capital, inventory, receivables and payables
  • Scenario analysis, risk assessment and action planning
  • And other assignments related to financial resilience and business performance
Outcome:an objective financial view of the business, a list of key issues and opportunities, and a prioritised action plan.
Discuss a diagnostic review →
02Core project

Building and transforming the finance function

Project-based work for companies that need to create financial processes from scratch, redesign an existing system or prepare the finance function for growth, new business launches and business model changes.

Examples of projects

  • Building management accounting from scratch
  • Designing management P&L, cash flow and balance sheet reporting
  • Building financial models and scenarios
  • Budgeting, forecasting and rolling forecasts
  • Implementing budget-versus-actual analysis, KPIs and regular reporting
  • Analysing and modelling new products, business lines or markets
  • Optimising financial processes and policies
  • Preparing the finance function for scaling or transformation
  • And other projects that develop the company’s finance system
Outcome:a finance system built or redesigned around the company’s actual needs, scale and future decisions.
Discuss a project →
03Ongoing support

Fractional CFO (monthly support)

Ongoing part-time CFO-level support for the owner and management team. The focus is on current financial management and decision quality rather than a one-off system build.

What may be included

  • Regular analysis of financial results and variances
  • Preparation and development of current management reporting
  • Monitoring profit, cash flow, liquidity and key metrics
  • Forecasting and updating financial scenarios
  • Decision support for the owner and management team
  • Participation in regular management meetings
  • Financial coordination of the team and follow-through on decisions
  • Assessment of risks, investments and business initiatives
  • And other CFO-level responsibilities within the agreed scope

Format:the number of hours, meeting cadence and depth of involvement are agreed around the company’s needs and may evolve as the business develops.

Outcome:CFO-level expertise in the scope the business actually needs.
04Stabilisation

Crisis support and performance improvement

Support with liquidity, cash gaps, declining profitability and other situations where the business needs to restore financial control quickly and define priority actions.

Examples of assignments

  • Liquidity management and prevention of cash gaps
  • Cash flow forecasting and stress scenarios
  • Management of working capital, inventory and receivables
  • Reviewing payment terms and supplier arrangements
  • Cost analysis and reduction
  • Assessment of loss-making business lines and margin improvement
  • Stabilisation plan and implementation control
  • And other assignments that restore financial resilience
Outcome:a clear stabilisation plan, control over liquidity and concrete measures to preserve cash and improve performance.
05Working with the team

Strategic sessions and financial facilitation

Working sessions for owners and management teams that need to structure a complex issue, align positions and reach a concrete decision.

Potential topics

  • Growth strategy and scaling
  • Launching new business lines and entering new markets
  • Investment decisions and profitability improvement
  • Reviewing the business model and strategic priorities
  • Aligning the owner and management team
  • Choosing between scenarios and making crisis-related decisions
  • And other strategic business questions

Approach:financial expertise + facilitation + ICF Level 1 coaching tools.

Outcome:an aligned decision, priorities, areas of responsibility and next steps.
06Training

Corporate finance training

Practical Finance for Non-Finance Managers programmes for executives and teams who need to understand the financial implications of their decisions.

Potential topics

  • How to read P&L and management reports
  • The difference between profit and cash
  • How decisions affect cash flow, costs and margins
  • Budgeting and financial accountability across functions
  • Working with KPIs, inventory, discounts and investments
  • Financial modelling fundamentals and product economics
  • And other programmes tailored to the company’s needs

Formats:corporate training, a practical workshop, a series of learning sessions or a tailored programme.

Outcome:managers better understand the financial consequences of their decisions and work more effectively with the finance function.
Case studies

Examples from different industries

A concise overview of the challenge, what was done and the result delivered.

01FMCG / beauty

Building a budgeting process from scratch

Problem

Budgeting was fragmented: around 30 participants used different assumptions and formats.

What was done

Data from around 30 stakeholders was consolidated, assumptions were standardised and a single budgeting model was created.

Outcome

One integrated budgeting process.

02International distribution

Integrated financial model

Problem

There was no integrated model linking profit, balance sheet, cash flow and multi-year scenario decisions.

What was done

A monthly integrated P&L, balance sheet and cash flow model with adjustable scenario assumptions was built.

Outcome

A tool for assessing the impact of decisions on profit, liquidity, inventory and working capital.

03Pharmaceuticals

Optimising investment in pharmacy chains

Problem

Investment in pharmacy chains was allocated without sufficient return analysis by SKU and customer.

What was done

ROI was calculated for approximately 60 SKUs and more than 100 pharmacy chains. Inefficient activities were removed.

Outcome

Potentially inefficient investments were removed from further planning.

04Pharmaceuticals

Improving business unit margins

Problem

The business unit had low margins, but the causes had not been broken down by brand and function.

What was done

P&L was broken down by brand, the drivers of low margins were identified and concrete actions on pricing, cost of goods and expenses were defined.

Outcome

An estimated margin impact and a responsibility map across four functions.

05International business

Automating the accruals process

Problem

The accruals process was manual, labour-intensive and dependent on many participants.

What was done

Five functions were integrated into one process, and hundreds of manual accruals were automated.

Outcome

Fewer errors, 1–2 working days saved and a shorter month-end close.

06Pharma / FMCG / beauty

Building a management accounting system

Problem

Financial information was fragmented and had not been brought together into one management system.

What was done

P&L, cash flow, a management balance sheet, KPIs, rolling forecasts, dashboards and month-end close rules were created.

Outcome

An integrated financial management system for 30–50 key participants.

07Pharmaceutical distribution

Preventing a cash shortfall

Problem

The company faced a risk of a cash shortfall due to receivables, inventory and payment terms.

What was done

A weekly cash flow process was introduced, receivables collection accelerated, payment terms for some contractors extended and inventory reduced.

Outcome

The company preserved liquidity and met its obligations to suppliers.

08Beauty / cosmetics

Assessing a loss-making brand

Problem

A loss-making brand continued to require investment without a clear understanding of break-even or its impact on the portfolio.

What was done

Three scenarios were built, break-even was calculated and the brand’s impact on the full portfolio was assessed.

Outcome

Loss-making expansion was stopped and a phased market exit was approved.

09Beauty / fragrances

Crisis planning during COVID-19

Problem

During COVID-19, the standard planning cycle could no longer keep pace with change.

What was done

The rolling forecast was updated approximately every three days, while costs and inventory were reviewed through S&OP.

Outcome

Continuous control of P&L and cash flow under high uncertainty.

10Pharma / FMCG / beauty

Finance for Non-Finance training

Problem

Non-finance teams did not understand P&L, accruals or how their decisions affected business performance.

What was done

Training was based on real cases covering P&L, accruals, discounts, inventory, expenses and interaction with accounting.

Outcome

Teams understood the metrics better and became more actively involved in performance management.

1 / 10
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Industry experience

Focus industries and business types

Industry experience helps me understand a company’s economics faster, without limiting the scope of work.

Start-ups and new business linesPharmaceuticals and healthcareFMCG, consumer goods and alcoholic beveragesCosmetics and beautyRetail and e-commerceIT and technology companiesConsulting and professional servicesClinics and medical services
Karina Sigaryova

CIMA, Adv Dip MA

International qualification
About

Karina Sigaryova

Finance business partner with 15+ years of experience in finance, FP&A and business partnering at international companies including Merck, Coty and Bacardi.

I combine financial analysis, strategic thinking and work with management teams to turn numbers into concrete business decisions on profit, cash flow, investment and company development.

15+ years in finance at international companies
Maximum P&L under management — approximately USD 150M
Budgeting, forecasting, financial modelling and transformation
Profitability, pricing, investment and strategic decisions
CIMA, Adv Dip MA (Business Performance Management)
ICF Level 1 Coach
Questions

Frequently asked questions

What assignments can I help with?

Project-based work covering financial diagnostics, management accounting implementation and transformation, financial modelling, budgeting, profitability improvement, cash flow and working capital management, crisis response, strategic sessions and corporate training. In selected cases, Fractional CFO support is also available — for example, during implementation and handover of a new process to the internal team.

Do we need to have management reporting in place already?

No. We can start with the accounting, banking, commercial and operational data already available. At the outset, I assess data quality and determine what needs to be reconstructed or collected.

How do you work with an existing finance team?

Having an internal team is an advantage. I can act as project lead, strategist or adviser: defining the solution architecture, organising implementation and helping the team adopt the new process. The internal team participates in delivery and continues to maintain the system after the project is completed. If needed, I can also support the handover, train the team or help recruit a specialist for ongoing operational ownership.

How are the project format, timeline and fee determined?

They depend on the assignment, the quality and volume of data, business scale, number of legal entities, expected outcome and the role of the internal team. After the first meeting, we agree the project boundaries, deliverables, stages, timeline, working format and fee.

How does a strategic session work?

Before the session, we define the objective, participants and required data. During the session, assumptions, scenarios and constraints are structured, after which the team agrees on a decision, priorities, owners and next steps.

What does the company retain after the project?

Depending on the assignment, the company receives an implemented financial model, reporting system, process, policy, action plan or another agreed deliverable. The solution is handed over to the internal team together with the necessary guidance and training so that it can be maintained and developed further.

First step

Let’s discuss your business challenge

At the first meeting, we will identify the key financial question, available data and the most suitable working format.

Submit an inquiry →

The format, scope and fee are determined after discussing the assignment and expected outcome.