For CFOs, CEOs & PE operating partners · Atlanta & London

Your working capital
is costing you more cash
than you think.

Your KPIs tell you what happened. They do not tell you what decision should happen next. Lever looks across the business to find where cash is trapped, what is causing it and who needs to act. We turn working capital into a company wide decision system built to release cash and protect liquidity.

More cash from the business you already have. No new debt. No new equity.

The Visibility Trap

Seeing trapped cash is not
the same as releasing it.

Most businesses can see more of their working capital than ever before. Receivables, inventory, supplier obligations, payment behaviour and liquidity forecasts are increasingly visible through ERP, BI and treasury systems.

But visibility does not determine what management should do next. A dashboard can show a collection problem. It cannot determine whether the intervention belongs with Sales, Credit, Customer Service or Collections. It can show inventory increasing. It cannot determine whether the underlying cause sits in demand assumptions, procurement, production, vendor choices or service expectations.

That is the visibility trap. Businesses can improve their ability to see working capital problems faster than their ability to act on them.

Working capital is a company wide decision system.

Lever connects the signal to the cause, the cause to the owner, and the owner to the intervention.

Signal Driver Decision Owner Intervention Cash

The objective is not better visibility. The objective is better decisions that release cash.

The Working Capital Decision System

Cash is the outcome of decisions
made across the business.

Working capital does not begin with DSO, DIO or DPO. Those metrics measure the financial consequences of decisions already made across Commercial, Operations, Supply Chain, Procurement, Treasury and Finance. Lever looks upstream to understand those decisions, downstream to understand their cash consequences, and across functions to identify where management intervention can make the greatest difference.

01 — Enquiry to Order to Cash
How commercial decisions become cash.
Cash can be won or lost before an invoice is ever raised.

Working capital starts before the sale. Customer selection, commercial terms, credit decisions, order configuration, fulfilment, billing, disputes and collection priorities all influence how quickly revenue ultimately becomes cash. A healthy headline DSO can still hide weak decisions elsewhere in the cycle. Lever looks across the full Enquiry to Order to Cash journey to understand where decisions are slowing conversion and where management intervention can improve cash.

Cash collection is the outcome of a chain of decisions, not simply the responsibility of Collections.

02 — Inventory Decision System
How planning and operating decisions become cash tied up in stock.
Inventory is not created in the warehouse. It is created by decisions made long before stock arrives.

Demand assumptions, procurement planning, vendor selection, lead times, purchasing quantities, production choices, replenishment decisions and service expectations all influence how much cash ultimately sits in inventory. By the time excess or slow moving stock appears on a report, many of the decisions that created it have already been made. Lever looks upstream as well as downstream to understand what is driving inventory investment and where management decisions can release cash without compromising the operating requirements of the business.

Inventory is the financial consequence of a series of commercial, planning, procurement and operational decisions.

03 — Purchasing & Supplier Leverage
How procurement and supplier decisions determine when cash leaves the business.
Payment terms are a decision, not a default.

When cash leaves the business is shaped by supplier selection, negotiation, purchasing concentration, contract structure and the discipline with which agreed terms are actually managed. Many businesses hold more commercial leverage than they exercise, and pay earlier than their agreements require. Lever examines the decisions behind the payables position to find where terms, timing and supplier strategy can be improved without damaging the relationships the business depends on.

Payables reflect the quality of supplier and procurement decisions, not merely the terms on a purchase order.

04 — Forecasting, Fulfilment & Timing
How planning and operational decisions determine when cash becomes available.
The same year of revenue can produce very different cash, depending on timing decisions.

Forecasting accuracy, production scheduling, fulfilment routing, service commitments and the coordination between functions all influence how long cash stays committed inside the operating cycle. These decisions rarely appear on a finance report, yet they determine whether cash arrives early or late, smoothly or in a month-end scramble. Lever looks at the operating decisions that govern timing to find where cash can be freed without disrupting the business.

When cash becomes available is an operating decision before it is a finance result.

05 — Treasury & Liquidity Decisions
How finance and treasury decisions determine how long cash stays committed.
Liquidity is managed by decisions, not observed on a dashboard.

Cash concentration, funding structure, currency exposure, buffer policy and the way liquidity is forecast and governed all determine how much cash the business must hold in reserve and how much it can safely put to work. Lever examines the treasury and finance decisions that sit above the operating cycle to identify where liquidity is being held unnecessarily and where it can be released with confidence.

Liquidity headroom is the product of treasury and finance decisions, not simply a balance at a point in time.

Services

Every engagement follows
the same logic: find it, recover it, protect it.

Start where the cash problem is. Build the intelligence layer around it. Protect it with governance and risk management. Every service can be engaged independently or combined into the integrated package.

01
LWCI™ Diagnostic Start here

The entry point for every Lever engagement. The LWCI™ Index assesses how effectively the decisions across your working capital cycle convert activity into cash. It identifies where cash is becoming trapped, examines the drivers underneath the headline metrics, benchmarks against sector and revenue-band peers, and prioritises where management intervention should occur first. Delivered in five working days. Fixed scope. No ongoing commitment required. The objective is not simply to improve the KPI — it is to improve the cash outcome behind it.

LWCI™ scoreSector benchmarkingCash opportunity map5-day deliveryFixed scope
Entry product
Get your score →
02
Working Capital Tower

A structured recovery of the cash trapped across all five floors of your working capital cycle. We quantify the total opportunity in dollars before the engagement starts, so you know the return before you commit. Our engagements typically reduce cash conversion cycle by 30% or more, with improvements that are permanent rather than reverting over time.

AR intelligenceCollections optimisationBilling accelerationAP management13-week cash forecast
Core engagement
Enquire →
03
CFO & CEO Intelligence Layer

A live AI powered intelligence system built around your business. Custom AI agent embedded in your environment. Automated board packs. Live financial dashboards. 13-week rolling cash forecast. Scenario modelling on demand. The system surfaces what matters so your leadership team decides on current evidence rather than last month's report. It operates continuously, not only when an advisor is available.

Live dashboardsCustom AI agentBoard pack automationCash forecastingScenario modelling
04
Enterprise Risk Management

Corporate-grade ERM at a cost structure accessible to mid-market businesses. Risk identification, assessment, mitigation planning, and continuous board level monitoring built as a living framework rather than a filing exercise. In the AI era, operational, financial, and technology risks compound faster than they did before. The businesses caught by them are typically the ones that could not see them coming.

Risk identificationMitigation planningBoard reportingContinuous monitoring
05
AI Governance & Investment Integrity

Any team can deploy AI agents in days. What most cannot self-generate is the financial accountability layer that sits above them: an independent assessment of whether the AI investment is genuinely justified, whether autonomous decision-making meets board and audit standards, and whether the adoption plan will survive contact with real operations. We provide the CFO-grade challenge function that keeps AI deployment honest, before the money is spent and after the system goes live.

AI investment scrutinyGovernance frameworkAdoption riskBoard accountabilityROI verification
06
AI-Enabled CFO Package

The integrated engagement. Working capital recovery, live intelligence layer, risk management, AI governance, and real time CFO-level strategic support combined into a single relationship built around your business. This is not a fractional CFO arrangement where you buy hours. It is a finance intelligence operation that runs continuously, scales with your business, and holds itself accountable to measurable outcomes. One engagement. Full coverage.

Full intelligence layerWorking capitalERMAI governanceStrategic CFO support
Integrated
Discuss →
ALT
Finance Transformation Sprint

A fixed scope engagement for businesses navigating a specific, bounded challenge: ERP assessment or implementation, post-system performance gaps, working capital unlock as a standalone project, or pre-transaction finance readiness. We work inside the execution layer and leave the business with stronger infrastructure and measurable improvement. Fixed deliverables. Fixed timeline. Full accountability for the outcome.

ERP assessmentImplementation supportProcess redesignPre-transaction readiness
How to engage

One conversation is all it takes
to know if we can help.

We do not run a sales process. Every engagement starts with a direct conversation about your situation. We tell you what we can recover, how long it will take, and what it will cost. If the numbers do not justify the engagement, we say so before you commit to anything.

How we work

Diagnose fast. Execute with
management. Leave the business stronger.

Find where value is leaking. Fix what matters first. Build the intelligence and discipline needed to sustain the improvement permanently.

01
Clarify the constraint

Separate symptoms from the actual bottleneck across margin, cash, intelligence, controls, risk, and decision-making velocity. Every engagement begins here before any work is scoped.

02
Quantify the opportunity

Before anything is built or changed, we put a dollar value on the opportunity. You know the return before you commit. If the numbers do not justify the engagement, we say so.

03
Execute inside the business

We work directly within the execution layer alongside your team. Every output is validated before it reaches your board or leadership. No recommendations handed over without accountability for the result.

04
Leave it running stronger

The end state is a business that sees further, decides faster, and holds its improvement permanently. Dependency on the advisor is not the goal. Independence is.

The Five Floors

Five floors of working capital.
Standard KPIs show only part of the building.

Cash moves through a network of commercial, operational and financial decisions. Lever looks floor by floor to understand where cash is being delayed, absorbed or committed unnecessarily, then identifies where management intervention can have the greatest impact. Most mid-market companies carry $1M to $5M of recoverable cash across all five floors combined.

01
Floor 01
Named and mapped inside your diagnostic
20–35%
02
Floor 02
Named and mapped inside your diagnostic
25–40%
03
Floor 03
Named and mapped inside your diagnostic
12–18 days
04
Floor 04
The floor that surprises CFOs most
$300K–$2M
05
Floor 05
Cash no standard report will ever show you
Largest pool
The Lever Working Capital Tower
The taxonomy is proprietary.
The outcomes are yours.
Some of the five floors will be familiar to experienced finance leaders. Others sit between functions and are difficult to identify through conventional reporting, because the decisions that create them are made in one part of the business and only surface as a cash consequence in another. That is why Lever assesses working capital as one connected decision system rather than a collection of ratios.
Your LWCI™ Diagnostic names every floor, quantifies each one in dollars for your specific business, and ranks the recovery sequence by impact — in five working days, before you commit to anything.
$1M–$5M
Typical combined recoverable cash across all five floors in a mid-market business
Get your five floors quantified →
Cash Unlock Calculator

See your trapped cash right now.

Enter your numbers below. This is the same calculation we run in every diagnostic, before anyone signs anything.

$30M
55 days
7 days

Conservative estimate. This figure reflects AR and billing acceleration only — the full diagnostic surfaces additional recovery layers not shown here.

DSO improvement available18 days
Cash unlock: AR & collections$1.48M
Cash unlock: billing acceleration$575K
Total cash unlock$2.05M
Engagement fee is typically recovered within 2–3 weeks of completion. The improvement is structural and permanent.
Start your diagnostic
Technology

AI tools that connect with what you already have.

We build the intelligence layer on top of your existing technology. No rip and replace. No new infrastructure. Connecting data that was always there but never talking to each other.

Our approach

Practical AI. Measurable outcomes. No technology theatre.

Every tool is selected because it passes the fit, ROI, and adoption test for your specific business. We work with leading AI platforms for finance, connecting seamlessly to your existing reporting, planning, and ERP infrastructure.

AI agents & automation Live BI dashboards Natural language querying ERP integration Predictive analytics Board pack generation Anomaly detection Scenario modelling Risk monitoring Workflow automation FP&A acceleration Controls management
Insights

Working capital is changing.
We write about why.

Lever Advisory publishes regularly on LinkedIn for finance leaders, PE operating partners, and investors who want to understand what conventional reporting is no longer telling them. Every piece is grounded in engagement experience, not theory.

Working Capital
Why standard KPIs are telling half the story

DSO, DIO, and DPO each measure one part of the cash cycle. None of them measure whether the system, as a whole, is releasing the cash it should. We write about why that gap matters more than it used to, and what it costs the businesses that have not closed it.

CFO Intelligence
When the board asks a question your reporting cannot answer

Decision-making at mid-market scale now requires intelligence that lives ahead of monthly reporting, not behind it. We write about how finance functions are restructuring around live visibility and what that means for the CFO role itself.

Cash & Value Creation
Working capital as a valuation lever

For listed companies, FCF drives the multiple. For private and PE-backed businesses, it determines the exit. We write about why working capital recovery is now one of the highest-return value creation levers available and how operating partners are scoping it.

Read the latest
All articles, posts, and analysis live on the Lever Advisory LinkedIn page.

Follow for new pieces, working capital diagnostics in practice, and commentary on what is changing in mid-market finance. No spam, no sales sequences, just the writing.

Follow on LinkedIn
About Lever Advisory

We built Lever around one belief.
Working capital is a decision system.

Businesses rarely lack working capital data. What they often lack is a reliable way to turn that information into coordinated management action. DSO, DIO and DPO remain useful indicators, but the cash behind them is determined by decisions made across Commercial, Operations, Supply Chain, Procurement, Treasury and Finance.

Lever was created by Micheal A. Legesse to connect those decisions. We look beneath the headline metrics to understand what changed, what is driving it, where the cash impact sits, who can influence the outcome and where management intervention should happen next.

Improving the metric is not enough. The intervention has to improve the cash.

The practice operates in the UK and US, led personally by Micheal and supported by a curated bench of highly skilled and experienced professionals drawn in where their expertise is required. Every engagement is delivered inside the execution layer of the business until the outcome is measurable in cash, not on a slide. He has worked in the seat, not on the outside writing recommendations. He has also founded, scaled, and exited a commercial venture of his own. That experience matters: he understands the pressure that founders, PE-backed management teams, and growth-stage leaders face because he has carried it personally, not observed it from the outside.

Micheal is a Fellow of the ACCA, the highest designation in the profession, and holds an MBA. Lever Advisory engagements are scoped around measurable cash outcomes, not billable hours. On average, our engagements reduce cash conversion cycle by 30% or more. That is the standard we hold every engagement to, and the standard our clients hold us to.

On the name: Lever

In classical mechanics, a lever applies a small, precisely placed force to move a much larger load. The result is disproportionate output when the fulcrum is placed correctly. That principle is what this practice exists to apply in finance: finding the precise point of intervention where focused, well-placed effort produces returns far beyond what the resource deployed would suggest is possible. Disproportionate impact from disciplined, precisely applied force.

load force fulcrum the lever

Precise force · disproportionate outcome

"Most working capital problems are not financing problems. They are process and visibility problems. The cash is already in the business. The question is whether you can see it, and whether you have the right lever to recover it."

Micheal A. Legesse · Founder, Lever Advisory
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Every engagement starts with a direct conversation. No sales pitch. A clear assessment of where and how we can help. If we cannot add value, we say so.

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