ZACH VELA, CPA
Global finance and operations experience with start-up ventures as well as established public companies. Excellent strategic partner with CEO to unlock enterprise value through organic growth, “buy” and “sell” M&A, international expansion, debt/equity financing, corporate restructurings, and operational turnarounds. Expertise in strategic planning and budgeting, accounting standards (GAAP and IFRS), SEC compliance/reporting, risk management, treasury and banking, and US and international tax. Proven ability to thrive in complex, technology-driven sectors that include: Pay Media, eCommerce, Internet Services, Telco/Mobile, Energy, Gaming, and Hospitality.
CONSULTANT Austin, TX / Carlsbad, CA October 2015 – Present Provided part-time consultant services while on an extended leave of absence to focus on family matters. Recently relocated to Texas to resume my professional career. HANSEN TECHNOLOGIES [ASX: HSN] Carlsbad, CA 2013 – 2015 Global provider of customer management and billing software solutions for large scale operators within the PayTV, Energy, and Telecommunications sectors. Headquartered in Melbourne AUS with approximately 500 employees worldwide and annual revenues of AUD$106 million in FY15, an increase of 67% from FY13. In 2013, Hansen added PayTV to its portfolio acquiring Irdeto’s PayTV BSS solutions business. Vice President of Finance Americas 2014 – 2015
Transferred from Sales to establish a qualified finance team encompassing controllership, accounting operations, financial reporting, business planning, mergers and acquisitions, risk management, and taxation within region. Reported to CEO/CFO.
Implemented a transition plan that developed a high-performance finance team and drove disciplined growth, scaled infrastructure, and built the foundation for Shared Service center.
• Completed the due diligence and successful integration of the company’s most recent acquisition, which increased the Americas annual revenue and EBITDA approximately 35% and 50%, respectively.
• Shortened “quote to cash” cycle by implementing new workflow process improvements and software tools, reducing DSO ~33%.
• Restructured insurance coverage minimizing risk exposure while negotiating lower premiums in the US, saving ~ 15% per annum.
• Implemented change to the audit processes which significantly reduced time and costs while improving the quality of financial reporting and internal controls. Executive Vice President of Global Sales and Marketing 2013 – 2014 With first-hand knowledge of the Irdeto acquisition, was recruited by Hansen in a transitional role to establish and manage a global team of experienced sales and marketing professionals. Reported to CEO. Recruited six senior level sales regional professionals, targeting growth markets selling Hansen’s complex billing solutions and services. Increased sales pipeline from ~$5 million to
$25+ million in the first 10 months.
• Implemented new guidelines for lead qualification and sales incentive plans which optimized new customer acquisition costs.
• Developed “go-to-market” strategies around compelling events in emerging global markets (e.g., Pay TV – analog to digital switch over; Energy – smart grid adoption; and Telco – virtual mobile network licenses).
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NASPERS [JSE: NPN] Cape Town, South Africa 2007 – 2013 A $5.9 billion media company composed of Internet Services, eCommerce, PayTV, and Print Media. Naspers only B2B subsidiary, Irdeto, a $250 million technology provider of conditional access, SaaS DRM/eCommerce and home networking solutions for pay TV operators, OTT service providers, and content owners. Vice President of Finance – Irdeto Subsidiary, Netherlands (expat assignment) 2009 – 2013 Responsible for global financial operations including financial reporting, budgeting/forecasting, revenue recognition, risk management and compliance, mergers and acquisitions, and commercial sales within North and South America, Europe, Middle East, Africa, and Asia Pacific. Reported to Group CFO.
• Led the negotiations with new and existing customer contracts securing over $300 million in revenues over a 5+ year period.
• Implemented shared services centers in three regional operating facilities that supported 24 offices, resulting in ~$3 million in annual SG&A cost savings by consolidating the regional finance, IT, legal, procurement, and administrative functions.
• Instrumental in retaining one of company’s largest customers, DirecTV (Latin America), maintaining “C” level relationships that led to the sale of IBS to Hansen Technologies.
• Established new budgeting process for company’s annual business plan that shortened the BOD submission/approval time ~35%, achieving top honors within the Naspers group.
• Senior Finance member of the M&A team for the Digital TV business unit responsible for ~$90 million in strategic transactions over a 24-month period; led the due diligence, transition and integration teams; and managed the successful divestiture of IBS billing business. Chief Financial Officer – Entriq and IBS Interprit Subsidiaries Carlsbad, CA 2007 – 2009 Managed global finance for Entriq, venture funded SaaS solution provider to the pay media industry, and IBS, global supplier of complex customer management and billing systems to Tier 1&2 pay TV operators. Oversaw all finance, accounting, legal, HR, IT and facilities supporting operations in North America, Europe, Middle East, Africa, and Asia Pacific. Directed $60 million in annual operating budgets, including M&A investments. Acquired by Irdeto in 2008.
• Developed and executed complex tax strategy that utilized accumulated US NOLs selling IPR to Dutch parent reducing taxable income. Realized savings of ~$20 million over a five-year period.
• Identified new business strategy that involved investing $30 million to acquire a competitor with a product portfolio that filled functionality gaps expanding Entriq’s value proposition and customer base; recognized as the industry leader in the marketplace.
• Cut annual infrastructure costs $15 million by establishing offshore development, QA and customer service functions to India and China, along with consolidating IT data centers in North America and Europe.
PROGRESSIVE GAMING INTERNATIONAL [NASDQ: PGIC] Las Vegas, NV 2004 – 2007 An $80 million leading provider of technology, manufacturing, and intellectual property for the casino-gaming industry in 180+ gaming jurisdictions worldwide.
Vice President of Global Operations 2005 – 2007
Managed corporate operations, strategic planning, forecasting, corporate development, information systems, material planning, purchasing, and production. Managed five direct reports and staff of 40. Partnered with CEO and CFO to transform company from low-tech manufacturing company to high- tech software and hardware organization.
• Led M&A activities on both buy and sell sides, investing more than $65 million in acquisitions.
• Spearheaded acquisition of three technology companies and several strategic investments.
• Implemented JD Edwards ERP software solution that improved management financial information, budgeting, and forecasting global revenues, expenses, free cash flow, and EPS. ZACH VELA, CPA Page 3 of 3
Vice President of Finance/Corporate Controller 2004 – 2005 Directed accounting and finance functions including SEC reporting, SOX 302/404 compliance, GAAP financial reporting, FP&A, budgeting, forecasting, variance analysis, cash and risk management, tax, external/internal auditing, and information technology.
Instrumental in corporate turnaround, reducing consolidated net loss in 2003 of $34 million to profitability in 2004.
• Decreased audit fees 40% through improved documentation and accuracy of G L account reconciliations, coordination, timely financial reporting, and detailed revenue recognition.
• Managed implementation of Sarbanes-Oxley 404 compliance initiatives.
• Established new month/quarter end closing procedures that reduced closing time 10 days, or 66%, while improving accuracy of financial information. EPSON AMERICA Long Beach, CA 2001 – 2004
A $5 billion leading global consumer and commercial electronics manufacturer. Senior Financial Consultant
Recruited to manage multi-million dollar project that delivered complete executable plan to facilitate launch of new strategic business unit specific to multi-unit casual dining restaurant industry. Responsible for financial model and capital requirements as well as leading the presentation to senior executives for project approval.
• Assembled a senior team of experts, including project manager with full accountability for delivering each phase of project on time and on budget.
• Developed the financial pricing models and the five-year business projection plans that included funding requirements for each project phase with break-even/ROI analysis.
• Established project deliverables and interfaced with funding oversight committee. ADDITIONAL EXPERIENCE
As CFO of NTN COMMUNICATIONS [AMEX: NTN], in interim role, guided corporate turnaround reaching breakeven within four months avoiding bankruptcy (2000-2001). As Vice President, Worldwide Operations for MAI SYSTEMS [AMEX: NOW], partnered with CEO and CFO to lead aggressive reorganization reversing 12 quarters of consecutive losses and transforming company into customer-driven enterprise (1997-2000).
Earlier roles included Director, FP&A Operations at COMPTON’S NEW MEDIA - Subsidiary of Tribune Company (1994 – 1997); and Vice President of Operations and Corporate Controller at INVESTOR’S BUSINESS DAILY (1987 – 1994).
BBA Accounting Graduated with Honors University of Texas 1985 Certified Public Accountant State of Texas (Active) INDUSTRY AFFILIATIONS
AICPA, TSBPA, CFO Leadership Council, Financial Executives Network Group (FENG), Financial Executives International (FEI)