Bradley J. Townsend

**** ***** ********** *****

Statham, Georgia 30666

***/***-**** (Home) abnm0f@r.postjobfree.com 972/342-0060 (Cell)

SENIOR MANAGEMENT PROFILE

Entrepreneurially-minded and business-focused financial leader with the ability to think strategically and contribute to the

development and execution of company-wide financial policies and procedures. Able to see the business drivers behind the

numbers, build practical and functional reports useful for decision-support, and provide insightful analysis that is

meaningful to operations executives

Management & Leadership Qualifications

•Strategic planning & corporate development •Corporate finance, tech. accounting and cash management

•Financial planning & reporting management •Cost control, efficiency & performance improvement

•Outsourcing management & contract negotiations •Acquisitions (buyer and seller)

•Divisional absorption & divestiture •Private equity & lender relations

•Multi-site/multinational management •Problem solving & decision making

•Accounting systems (ERP & CRM) •IPO/VC preparation

•SOX policies and procedures •GAAP, SEC, & SOP 81-1, 97-2 and FMV compliance

Industry Experience

•Software Development •Technology-Hardware Mftg •Type-1 Ntwrk Security •IT Professional Svcs

•Banking/E-payment Systems •Gov’t Contracting • Commercial Airlines •Logistics

•Venture Capital Investment •Aviation Equipment Mftg • Retail & channel sales

PROFESSIONAL EXPERIENCE

TransCard, LLC- privately held payment processor ($3M-$9M)

EVP, Chief Financial Officer (1/09-10/09) Chattanooga, TN

Recruited by CEO and Chairman to structure G&A in preparation for substantial growth (5 year revenue CAGR

forecast +150%). Lead development of close procedure, reporting, planning and forecasting processes. Successfully

lead $10M debt and restructured existing debt.

*Successfully completed first audit and established accounting procedures to separate duties and secure controls.

*Created monthly close process (7 days) and created monthly reporting process for executive management and

BOD, which highlights account revenue growth, card activations, and cost controls such as headcount and T&E.

*Played key role in restructured existing debt ($15M) and successfully secured $10M of additional debt for on-going

operational needs while seeking equity raise.

*Led the efforts for a $15M equity raise and successfully received four written offers from top-tier venture capital

firms. These efforts included presentation of financials and plan, company vision, providing support for pipeline

and negotiating the price and structure.

*Played key roll in evaluating acquisition offer. This included formalizing a detailed, understandable 5-year plan,

creating a full dataroom, negotiating the price with the acquirer, and providing support to Q&A.

*Directed and formalized the semi-annual planning and weekly forecast process such that departmental strategies

are detailed. This holds budget owners accountable to strategies, spending and revenue. New revenue successes

and misses are highlighted in weekly forecast and monthly reporting.

*Lead cash management which was particularly critical while the company was operating at a net loss. Was able to

reduce DPO from 60 days to 35 days, and reduced DSO from 45 days to 31 days.

*Established formal revenue recognition policy for transactional and start-up revenue that are GAAP compliant

under SOP 81-1 and 97-2.

*Manage bankers, audit, investor, insurance, and board relations.

Advanced Interactive Systems-privately held simulated training technology & manufacturing company ($24M-

$45M)

EVP, Chief Financial Officer, and Secretary (2007-2008) Seattle, WA

Recruited by CEO and Board of Directors to lead G&A team in developing global support structure for fast growth

(+50% annual growth), private company. Lead improvement of company accounting, reporting, planning, IT, legal,

facilities and HR standards, while creating an advisory role to the CEO and board for strategic business development.

*Successfully completed four annual audits without incidence, and five government audits (DCAA and GSA)

without incidence, while updating three year old government pricing structure on product set.

*Lead role in successfully acquiring and integrating largest supplier/manufacturer, while improving gross profits

40%. Was instrumental in raising $15M in debt for the acquisition.

*Upgraded ERP and BPM systems from five systems to a single global system, Microsoft Dynamics SL. This

included accounting, reporting, HR, fixed assets, purchasing and inventory, time management, and forecasting

systems.

*Improved accounting efficiency in creating a single chart of accounts, reduced monthly close period from 45 to 10

days, created monthly reporting standards, reduced DSO’s from 80 to 45 days through cash management, reduced

accounting errors 45%, and developed SOX compliance standards.

Bradley J. Townsend - page two

AIS continued

*Directed and formalized the annual planning process such that departmental strategies are detailed and presented

for BOD approved plan. The process created a formal process for hiring and CapEx spending in the planning

process.

*Directed the development of strategic partnership agreements with top ten suppliers which reduced direct material

costs approximately 15%.

*Established formal revenue recognition policy for software, hardware and manufacturing areas of business that are

GAAP compliant under SOP 81-1 and 97-2. This is particularly important in this case due to the acquisition of a

manufacturing company and expanding product sets.

*Managed banker, audit, government audit, investor, insurance, legal and board relations.

*Created and managed companywide recruiting standards for new hires, while maintaining HR standards and

policies.

SafeNet, Incorporated- publicly held Type 1 network security software and hardware ($200M-$330M)

Sr. Director- Corp. Finance (2004-2007) Belcamp, Maryland

Led finance team in creating annual planning process, monthly close process and quarterly benchmark reporting, as

well as, company policies for SOX and cost control. Developed and directed annual strategic plan and rolling

quarterly forecast which highlighted areas of investment and improvement. Created Gross Margin Report which

highlighted product engineering progress and inventory benchmarking, while detailing profitability by product family

and geography. Assisted in growing company from $200M in sales to $330M within three years- half through

organic grow, while establishing G&A as a support function. Took lead role in privatizing company with bankers

and VC’s.

*Created worldwide FP&A team to better understand P&L drivers, create planning/spending accountability, and

developed business partnership relations throughout organization.

*Created and managed weekly revenue reporting and monthly closeout process, which benchmarked company

performance to initiatives and established a hard 13-day close period (down from 45-day soft close).

*Successfully implemented HR, revenue forecast, and financial reporting and planning systems. This corrected

headcount calculations, automated payroll information, and clarified revenue predictions.

*Led finance and accounting in acquisition activities; including pricing, modeling, structuring, negotiating, due

diligence and integrating. Led asset valuation process in determining goodwill impairment testing.

* Successfully acquired four companies and integrated five, increasing revenue over 100% (from Q1 ‘04).

*Developed and managed Gross Margin and Product Profitability reporting. Outcome highlights include 20%

reduction in material costs ($5.5M annual), improving margins 4%.

*Assisted CFO and worked with Merrill Lynch in securing $250M debt offering, structured as a convertible

debenture. Proceeds were used for stock buy-back and acquisitions.

*Played key role with executive management in successfully preparing the company for acquisition. This included

working with investment bankers, preparing due diligence data room, determining fair market calculation, and

discussing financial data with potential buyers. Continued support through definitive agreement completion.

VECTORsgi- privately held Banking/Transaction Processing Software ($21M-$45M)

Corporate Controller (2003-2004) Dallas, Texas

Recruited by CEO and CFO to develop accounting and finance policies and procedures according to GAAP

requirements, while establishing reporting standards and cost controls. Managed finance and accounting teams from

initial spin-off phase of company (VC-owned) to acquisition by Metavante.

*Developed and managed annual planning and monthly closeout process superceding prior procedures. The process

created collaborative planning cycle and a hard 5-day close period (prior closeout was approximately 35 days)

while reducing accounting errors 50%.

*Directed 5-year strategic plan development. Worked with CEO, CFO, Sales and R&D VP’s, and VC’s in

understanding product drivers while quantifying the corporate strategy. Plan included major market expansion,

manpower requirements, cashflow needs, backlog expectations, and pricing strategies that detailed long-term

growth.

*Directed annual audit process and sign-off on final findings. Maintained relationship with audit partners.

*Directed change to contract accounting (SOP 81-1). Established model and procedures and implemented

accounting shift according to GAAP guidelines. Policies reflected GAAP and SOX requirements.

*Directed cash management process to increase cash collections, reduce DSO, and manage balance between

reinvestments and debt payments. Monthly collections increased 300%, while DSO was halved within three

months.

*Developed business partnership relationship with CEO and CFO in recommending strategic investments and

initiatives, confirming stringent accounting/finance procedures, and preparing VECTOR for sale to Metavente.

*Implemented new ERP/accounting/reporting systems, CostPoint and Cognos. Shortened implementation period

25% through dedicated resources and structured approach.

Bradley J. Townsend - page three

Network Associates, Incorporated (NAI)- publicly held network management software ($1B)

Sr. Director- Finance & Strategic Planning (2002-2003) Dallas, Texas

BU Controller- McAfee (2000-2002)

Led worldwide McAfee finance/accounting team to create best-in-class reporting, planning and cost control.

Developed strategic plans with McAfee President, NAI CFO and CEO. Promoted to Sr. Director in Q4 FY01 to

develop 12-month plans for NAI for FY02 & FY03. Successfully prepared three BU’s for spin-off IPO.

*Assisted in redesigning US sales compensation structure, which drove monthly/weekly behavior. Revitalized

new business growth (50%) within three months, while expenses remained flat.

*Improved COGS spending 15% ($35M) through inventory management, vendor negotiations, and quality control

of hardware manufacturing. Developed planning and benchmarking report to assist in strategic decisions.

*Led and completed six acquisitions that expanded marketshare and added new product lines, while increasing

annual sales by $350M. Role included pricing, structuring, due diligence and integration.

*Created and managed pricing analysis and strategy for anti-virus and network management product lines.

Redirected strategy from a competitive pricing scheme to value-add, causing the average list price to increase

4% and focused sales attention away from commodity selling approach.

*Developed product profitability reporting that highlights contribution margins, discount levels, sales volume and

early renewals by geography, allowing for better product positioning and resource allocations.

*Reduced order entry error rate by over 80% and turnaround time by 60% by quantifying minimum standards and

establishing an incentive matrix. Totaled over 11k orders quarterly.

*Created several internal efficiencies allowing reconciliation and month-end close to reduce from 23 days to three

days while reducing commission errors 95%.

*Assisted in designing business strategy and structure for Latin America market with SVP LTAM. Sales exceeded

75% growth in FY02 ($35M), while costs increased only 10% ($18M).

*Assisted in designing and implementing SAP 4.6 as financial and accounting tool, while enhancing use of Data

Warehouse, Essbase, Access, and Hyperion for data storage and financial reporting.

Delta Air Lines, Incorporated-International Airline ($13B)

General Manager- Finance (1998-2000) Atlanta, Georgia

Controller Hub Operations LAX (1997-1998) Los Angeles, California

Sr. Cost Analyst (1994-1997) Atlanta, Georgia

Developed analysis and planning processes that assisted senior and executive management on strategic decisions.

Improved accounting systems and processes to support analysis & reporting requirements. Continuously created

efficiencies that reduced operating and capital costs and maximized ROI. Created annual operating and capital

plans for airport, marketing, G&A, and Ground Support Equipment (GSE) divisions.

*Managed operating plan development and analysis for GSE ($70M). Reduced airport expenses 15% ($30M) by

initiating an integrated supplier program for repair parts, re-pricing service contracts, and reducing fleet

inventory.

*Developed and managed equipment replacement strategy and airport technology investment initiatives. The

program captured asset utilization and wear and maintenance costs. Reduced fleet inventory 8% (2,400 units).

*Priced and structured outsourced maintenance contracts for 130 stations/offices ($43M). Assisted in creating

turnkey agreements with four partners, reducing contract expenses 4% and increasing service quality 25%.

EDUCATION:

Emory University, MBA with a major in Finance and Accounting, 1992.

*Emory Scholarship worth 75 percent of tuition. Graduated in top 12% of class.

*Edward Dietz Marit Loan based on academic and professional performance..

University of Georgia, BBA with a major in Corporate Finance, 1987.

*International Intercultural Studies Program. Studied international finance at the London City University.

Highlights of Continuing Professional Education:

University of Virginia (Darden), completed GAAP/SOX requirements course in the Executive Education Program,

2005

Harvard University (Law School), completed Negotiations course in the Executive Education Program, 2002.

University of Chicago, completed Strategic Pricing course in the Executive Education Program, 2001.

Chartered Financial Analyst (CFA) candidate, completed two of three exams in 1999 & 2000.

Gerson Lehrman Group, industry expert in accounting treatment and GAAP guidelines for the technology & service

sector, leading numerous discussions with stock and mutual fund analysts, 2006-present.

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