EXPERIENCE
Senior Partner, iPrime Group, LLC, Herndon, VA (2000 to Present). Co-founder of this consulting consortium of former senior executives that provides multifunctional business consulting services to CXOs of small and mid-sized organizations. Provide virtual CFO services which include:
-- Development of business plans, financial models and executive presentations- Key elements in securing a $1.5 million A-round of funding and a $400,000 credit facility.
-- Implementation of business & HR policies, procedures and management information systems- Evaluated and implemented an order administration system and interfaces to the general ledger. Developed the detailed specification for a complex online software subscription administration application.
-- Oversight of day-to-day financial operations, including taxes, insurance, accounting and reporting- Uncovered employee fraud involving over $200,000 of payroll taxes.
-- Developing and maintaining relationships with business partners, investors, lenders and auditors.
Engagements have included clients in the following industries:
-- Software based Internet subscription services
-- High-speed communications encryption devices
-- Optical data storage networking products
-- Voice and data networking equipment reselling and integration.
Timeplex, Inc., Woodcliff Lake, NJ (1987 to 2000). Timeplex developed and manufactured hardware and software communications products with worldwide revenues of $150 Million. From 1988 to 1991 a subsidiary of Unisys Corporation. From 1991 to 1999 a subsidiary of Ascom Holding, AG of Switzerland. In 1999 Timeplex was sold to Platinum Equity Holdings and merged with one of its portfolio companies.
President, Timeplex Federal Systems, Inc. (TFS), Fairfax, VA (1997 to 2000). Promoted from CFO with a mandate to reposition this $25 million subsidiary for growth. TFSI implemented and supported mission-critical communications networks worldwide for the federal government. For the second full year of this turnaround, Bookings, Revenue and Pre-Tax Profits increased by 70%, 33% and 17%, respectively. Key actions taken to accomplish this included:
-- Development and implementation of a comprehensive marketing plan that successfully repositioned Timeplex as a provider of leading-edge, industry standard technologies.
-- Technology acquisitions and business partnerships to augment the older Timeplex product line, which generated over $10 Million of incremental sales for Timeplex.
-- Reducing employee turnover by 60% and creating the highest performing sales team within Timeplex via a profit sharing plan and special incentives to attract, retain and motivate employees.
Chief Financial Officer, Timeplex Federal Systems, Inc., Fairfax, VA (1991 to 1997). Successfully implemented, within government-mandated time lines, and then managed the finance, human resources and administrative infrastructure of this new subsidiary. TFSI reported to an independent board of directors in accordance with US Foreign Ownership, Control & Influence regulations. Accomplishments included:
-- Negotiation and administration of GSA and other federal and supplier contracts, multiple facilities leases and a $3 million line of credit.
-- Established a 24/7 customer service operation that supported customers around the world.
-- Implemented multiple electronic catalog and payment initiatives with GSA and DFAS.
-- Identified and addressed pre-existing sales and use tax and inter-company pricing exposures.
-- Obtained nonqualified opinions on all Coopers & Lybrands external audits.
Director, Financial Planning, Reporting & Analysis, Timeplex, Inc., Woodcliff Lake, NJ. (1987 to 1991) Primarily responsible for improving the planning, forecasting and reporting processes, providing business analyses for the President and line management and leading quarterly financial reviews at Unisys Corporation.
-- Improved product lead times, inventory turns and cash flow by implementing a worldwide inventory-planning process that significantly improved the effectiveness of forecast updates.
-- Improved the quality of financial forecasts and plans by developing and implementing a product profitability model. This enabled gross margin forecasting and tracking throughout the value chain, including multiple manufacturing plants and sales channels worldwide.
-- Significantly enhanced the quality of management reports, forecasts and financial plans by developing strong working relationships with the VPs and controllers in the operating units.
Datapoint Corporation, San Antonio, TX and London, England (1979 to 1987). Datapoint was a leading developer and manufacturer of distributed computing and local area networking equipment with worldwide revenues of approximately $500 Million.
-- Director, Strategic and Operational Planning. Responsible for monthly corporate management reporting, quarterly business reviews and annual operational and strategic plans.
-- Sr. Manager of Product Planning, Corporate Product Marketing. Redesigned the product planning and reporting processes to significantly reduce product lead times. Selected as one of the key Datapoint managers to attend The Quality College, Winter Park, FL.
-- Manager of Finance, Datapoint Europe Ltd. One of a five-person team that successfully established Datapoint's European Headquarters in London, England. Integrated newly-acquired subsidiaries and rationalized overlapping operations throughout Europe.
-- Financial Analyst, Corporate Development. Part of a three-man M&A team that successfully acquired 20+ international distributors and an $80 Million, Boston-based computer manufacturer.
Electrical Engineer, Small Business Owner and National Guard Officer, Roanoke, VA (1970 to 1977).
EDUCATION & CERTIFICATION
MBA, Darden Graduate School of Business Administration, University of Virginia 1979.
BS Electrical Engineering, Virginia Military Institute 1970.
Certified Management Accountant and Past President of Potomac Area Chapter of the Institute of Management Accountants.
Previously held a TS/SCI top secret clearance. |
