- New report from former CFOs and turnaround operators argues that cash, cost and cost of goods sold (COGS) should be managed as a single performance agenda to help businesses strengthen resilience amid ongoing market volatility
- Draws on real-world restructuring and performance improvement experience across FMCG, aerospace and other capital-intensive sectors
Riyadh, Saudi Arabia – July 2026 – Global professional services firm Alvarez & Marsal (A&M) has published a new report, Harnessing the Three Cs: A Strategic Blueprint for CFOs in the Middle East, examining how CFOs in the region can balance growth ambitions with greater financial discipline. The report draws on A&M’s hands-on experience advising and leading businesses through periods of disruption and transformation, arguing that CFOs should manage cash, cost and cost of goods sold (COGS) as part of a single performance agenda rather than separate finance workstreams.
As growth opportunities across the Middle East remain strong, CFOs are increasingly focused on balancing growth with disciplined capital allocation and operational performance. The report expands on why three priorities should be at the center of every CFO’s agenda: strengthening cash management through better forecasting and working capital discipline; driving structural cost efficiency through procurement and operating model improvements; and improving visibility and control of COGS to protect margins and support profitability.
Drawing on A&M’s client experience, the report highlights how these levers can be applied in practice. In one case, interim CFO services supported an FMCG business where excess inventory, unfavorable supplier terms and disconnected production forecasts were creating liquidity pressure. The business standardized supplier terms, reduced inventory build-up and established a weekly process aligning sales forecasts, production schedules and procurement. In another case, an aerospace MRO business facing pricing inaccuracies and long-standing cash flow challenges gained greater contract-level visibility and prioritized resources toward its most cash-generative contracts.
Commenting on the report, Neil Hayward, Managing Director and Middle East Head of Turnaround & Restructuring at Alvarez & Marsal, said: “CFOs across the Middle East are operating in an environment where growth remains a priority, but financial discipline needs to be equally important. Cash, cost and COGS are often managed as separate areas, when in reality they are closely connected. Organizations that take an integrated approach to these levers will be better positioned to protect liquidity, improve margins and create the capacity to invest through changing market conditions.”
Hayward brings almost 30 years of international experience delivering turnaround and restructuring mandates as both an advisor and C-suite executive, with experience spanning CEO, CFO and Chief Restructuring Officer roles. His work has focused on rapid EBITDA improvement, cash flow enhancement, operational improvement and balance sheet realignment across sectors including energy, mining, food and health.
The report concludes that organizations that combine disciplined cash management, structural cost efficiency and sustained margin improvement with rigorous execution are best positioned to strengthen resilience and maintain competitiveness in today’s operating environment. A&M’s Turnaround & Restructuring practice in the Middle East brings together hands-on operators with deep local knowledge and global restructuring expertise to support businesses facing complex financial and operational challenges.
About Alvarez & Marsal:
Founded in 1983, Alvarez & Marsal is a leading global professional services firm. Renowned for its leadership, action and results, Alvarez & Marsal provides advisory, business performance improvement and turnaround management services, delivering practical solutions to address clients’ unique challenges. With a world-wide network of experienced operators, world-class consultants, former regulators and industry authorities, Alvarez & Marsal helps corporates, boards, private equity firms, law firms and government agencies drive transformation, mitigate risk and unlock value at every stage of growth.
