Manager Sales

DAVID F. TANGEMAN

CELL: 832-***-****

E-Mail: *************@*****.***

SUMMARY

· Built a shared services credit department from scratch, putting procedures in place and hiring staff in Europe, China and US while fostering a team focused on continuous improvement and productivity gains working against our working capital key performance indicators (KPI’s) as well as implementing best practices across the department.

· SAP consultant and lead for several companies both as a consultant and direct hire roles.

· Created Sarbanes-Oxley 404 Process Maps, Procedures and Test Scripts for the Credit Management and Derivatives Management process tracts.

PROFESSIONAL EXPERIENCE

FINANCIAL MANAGEMENT CONSULTANT SEPTEMBER 2018 – APRIL 2019

FINANCE ANALYTICS SERVICES, LLC HOUSTON, TX

· Worked with early stage restaurant chain Pholicious USA assisting new owner in attempt to raise $40 million in venture capital funds to re-launch the chain on large chain expansion and new plant construction. This included creation of proforma financial statements and growth projections, preparation for equity investor presentations and investor pitch decks. Consulted on the selection of various computer systems being considered for the ERP system and POS system. Evaluation and preparations for meetings with Economic Development Groups from multiple states for the plant location and site selection alternative sites and comparisons of plant and restaurant level equipment from different vendors.

SAP Consultant – Finance, Treasury, Accounts Receivable & Credit, HOUSTON, TX 2012 – May 23, 2018

Shell / Motiva Enterprises, Houston, TX

Have over 10 years of experience into SAP, worked on Functional Testing, Test Plans, Test strategy Test, Manual Testing, Web Testing. SAP Functional Implementation Consultant with extensive testing in SAP SD, FI, CO modules, SAP Portal, IDOC, EDI files and the NetWeaver Portal.

Treasury, AP and AR integration work included set-up and post processing of the EBS and lockbox files, incoming Idoc interface files and AP payment files for wire transfers, multiple ACH payment methods and check payment files to the bank ensuring proper processing for both domestic and foreign payments, for various payment types.

Worked on AP invoice processing through Vendor Invoice Management (VIM),the proper coding of invoices to proper accounts for payment and SAP workflow routing for proper approvals and successful pick-up and processing in the F110 payment runs through successful payment by the bank.

I worked on the implementation of SAP and the integration with several new systems including Kyriba, Right Angle, and Salesforce and their exchange of data flow. Working on defining roles and preparing test scripts for testing, data migration and conversion from the legacy system as well as mapping As Is process and the laying out the To Be Process.

Worked to ensure proper risk and liquidity management being captured in terms of cash on hand and outgoing payments to give visibility to a need to access the revolving credit facility or pay down opportunities available.

Worked to improve cash flow forecasting tools for the company as well as integration with Bloomberg of data.

Experienced at Preparing the TEST PLAN, TEST PROCEDURES, TEST SCRIPTS, Report DEFECTS using HPQC and other defect reporting/tracking tools.

Provided consulting services and work in maximizing cash flow, credit analysis, letters of credit advise and work thru and a couple of consulting and staffing firms. Consulted for Motiva Enterprises a multi-billion dollar refining company on the split between Shell and SaudiAramco of the partnership. I worked as consultant for the FICO and Treasury SAP implementation and the integration with several new systems including Kyriba, Right Angle, and Salesforce and their exchange of data flow. I helped develop cutover strategies to minimize the impact on the business.

Started with AR and expanded to assist with SAP workflow, integrated Kyriba testing on the treasury side and solving problems with the Accounts Payable F110 files with AP in the FI and CO modules as well as SAP Cash and Treasury.

ASCEND PERFORMANCE MATERIALS LLC, HOUSTON, TX 2009 – 2011

Global Credit Manager (Treasury & Credit)

Managed the global credit team at Ascend, a $2 Billion+ revenue chemical company with approximately $300 million in receivables and over $1 billion in international sales.

Led the SAP implementation team developing test plans, test scripts and the execution of test scripts for Finance in FI and assisted in SD and CO modules during their implementation of their own SAP system.

Built a shared services credit department from scratch, putting procedures in place and hiring staff in Europe, China and US while fostering a team focused on continuous improvement and productivity gains working against our working capital key performance indicators (kpi’s) as well as implementing best practices across the department.

Handled bank relationships and dealt with bank auditors for covenant compliance, borrowing base size and eliminations, handled the Letter of Credit issuance and discounting program.

Developed a credit model for initial reviews and credit lines of customer accounts.

Filed UCC filings, bankruptcy claims, lien and bond claims and have an excellent understanding of business law and reviewed contractual terms including ISDA master contracts.

Helped manage revolver availability for pay downs or the need to draw down funds.

Forecasted cash collections within 95% accuracy in a Daily Cash Flow model and Cash Balances by region. Since we paid $332 million in dividends to our PE firm managing cash flow was important to manage.

Saved over $1 million a year by implementing a LC discounting program to reduce DSO and take advantage of lower interest rates of roughly 110 basis points annually to use the excess cash to pay down the company’s revolving ABL facility creating over $1 million+ in annual interest savings.

Hedged foreign currency FX exposure on contracts where FX payments were accepted to get the order.

Reduced DSO levels from 39 to 33 days and drove % Past Due to the 5-7% range from 17%.

Partnered with the VP’s, Directors, and Sales Managers to resolve issues.

Granted credit approval up to $10 million and prepared written reports to make recommendations on lines needing higher limits for the CFO, President and CEO and the company’s Board of Directors.

Provided detailed financial analysis of the company’s largest customers as well as those presenting large credit risks.

Succeeded in having global write offs and bad debt reserve additions of 0.01% of sales or roughly $250K for a company with sales in excess of $2 billion.

Implemented process improvement to reduce the number of orders going on credit hold in SAP.

Worked to mentor and develop credit department staff and assisted Treasury department on training the cash team.

Submitted slides to the CFO for the monthly reporting package and made journal entries for the bad debt reserve.

Worked in a team to revamp the company’s standard cost and AOP processes with a team addressing the cost not being correct or meaningful to achieve a more streamlined process that took less of the organizations time and provided more meaningful results.

BSH HOME APPLIANCES CORPORATION, HOUSTON, TX 2008 – 2009

National Credit Manager

Responsible for the Credit Department and Cash Application functions for BSH, a 41 year old joint venture between Siemens and Bosch with $800 million in revenue and $70-$100 million in receivables in the US.

Led the SAP implementation team developing test plans, test scripts and the execution of test scripts for Finance in FI and assisted in SD and CO modules during a SAP upgrade.

Supervised a shared services staff of 10 direct reports working on over 3,000 active accounts with heavy charge back volume. Fostered a team environment tackling problems at a challenging time to improve morale and create a sense of ownership and improve productivity across the credit department and shared best practices with our other colleagues of other divisions and sales our team partners.

Maintained DSO of 41 in the face of the credit crisis and a total % past due of 8% at a time when 5 dealers a month were going out of business.

Reported monthly on DSO and other reports for the monthly reporting packages.

Prepared monthly journal entries for the bad debt reserve.

Provided detailed financial analysis of the company’s largest accounts.

Filed UCC filings, bankruptcy claims, lien and bond claims and have an excellent understanding of business law.

Worked with GE Capital on company’s secondary finance portfolio which was 40% portion of company’s sales.

Successfully maintained low write off levels despite 36 dealers going out of business.

Collaborated with the company’s VP’s, Directors, and Sales Managers to resolve issues.

Resolved problems within EDI billing to improve payment and reduce DSO.

Worked on driving the successful resolution of charge back issues.

Developed new policies and procedures as well as ensured the integrity of existing procedures was maintained.

Successfully identified problem customers and alerted management to the need to reduce exposure to these customers to avoid losses.

Personally flew out and met with some of company’s largest accounts to resolve collection issues.

TRUSSWAY, LTD, HOUSTON, TX 2005 – 2008

Credit Manager

Reported to CFO and managed the Credit Department for Trussway, Ltd, a manufacturing company with $250-300 million in revenue and $40-50 million in receivables.

Supervised two direct reports with indirect dotted line responsibility for 6 others.

Reduced DSO by over 20 days.

Discovered a $1.8 million accounting fraud at one of the plants.

Implemented process improvements and trained staff and other associates on the tools available to them.

Successfully wound down the A/R from the sale of a division.

Collaborated with the company’s VP’s, operations manager and salesman to resolve and rectify issues.

Worked on improving/fixing problems within the billing and cash application issues of the company to improve

CREDIT ALTERNATIVES, HOUSTON, TX 2004 – 2005

Credit Manager/Credit Consultant

Contract position primarily working for NuFlo Technologies (now part of Cameron Corporation).

Improved collections and established meaningful credit limits in Syteline utilizing an analytical analysis of past sales history to minimize expense for the accounts of 3 acquisitions.

Effectively reduced total % Past Due and have shaved 17 days off the DSO.

Contract position at Universal Weather and Aviation a $2+ Billion company with 35% of sales coming from overseas.

Oversaw the extension of credit and setting up of accounts as well as the receipt of various types of letters of credit (Stand-by, transferable, and regular letters of credit).

PCC FLOW TECHNOLOGIES, LP, BROOKSHIRE, TX 2003 – 2004

Credit Manager

Managed a 7 person Credit and Collections Department for a $300 million plus division of Precision Castparts, a Fortune 500 firm with over $6 billion in revenue.

Reduced consolidated AR in excess of $45 million to under $40 million.

Drove continued improvement in each business’ DSO numbers by over 15 days for the business units and continued improvement in DSO and % Past Due.

Created Sarbanes-Oxley 404 Process Maps, Procedures and Test Scripts for Credit Management, and Derivatives Management process tracts.

Implemented a new Auto Credit Checking system in Oracle.

Negotiated, reviewed and presented documentation for Letters of Credit, Documentary Collections, and Ex-Im Bank Financing transactions for International Accounts.

Worked to standardize Letter of Credit Request to the customer to minimize the number of payments needed on L/C’s and speed up payment.

Prepared financial models relating to receivables, cash flow, and the calculation of the company’s bad debt reserve.

Hedged foreign currency exposure on contracts when company had to accept this form of payment to get the order.

Engaged the international group to offer more competitive terms when bidding on foreign projects to increase sales.

SMITH & LOVELESS, INC., LENEXA, KS 1995 – 2003

Manager of Credit & Collections

Responsible for the collection of all receivables for this multi-national manufacturer. Promoted through the organization from Credit Analyst.

Supervised two collectors and one billing clerk in all aspects of credit approval and collection efforts, billing process including printing and verifying accuracy of invoices, and sales tax issues.

Worked to utilize government programs through the Export-Import Bank to increase foreign sales, as well as other private sector programs.

Worked to standardize our letter of credit request to customers to minimize amendments needed to reach an agreement on L/C terms.

Developed system to ensure proper filing of notices for all fifty states with varying filing requirements.

Handled customer disputes including direct resolution and following up with customer service in cases where there were product problems to ensure disputes were resolved in a timely manner.

EDUCATION

B.S., Business Administration, Finance, Kansas State University, Manhattan, KS

Attended the Ex-Im Bank training program on International Financing Programs, Export-Import Bank of the United States

Attended numerous NACM meetings and training sessions over a wide variety of credit related topics in my 19 year career, National Association of Credit Management, NACM

I also hold Series 6 and 63 financial securities licenses from the National Association of Securities Dealers (NASD)

SOFTWARE

SAP, Oracle, Excel, Word, Outlook, GetPAID, Business Warehouse (BW), Hyperion, Power Point, Access, Maximizer, HPQC, Tableau, RightAngle, Kronos, Rentalman, JD Edwards, Salesforce, Syteline, ACT and Kyriba

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