Accounts Payable Receivable

EDMUND J. DEGENNARO

** **** ****** **** 631-***-****

Hicksville, NY 11801 E-mail Address: ***************@*****.***

SUMMARY

Senior Finance Executive with outstanding leadership skills and demonstrated capacity to achieve results in diverse business, organizational and economic conditions. Proven track record of success in managing back office functions, and increasing productivity and efficiency while reducing costs. Strengths include Accounts Receivable Management including Credit and Collections, Cash Application, Accounts Payable, Payroll Processing, Standard and Customized Billing and Management of Finance Functions.

AREAS OF EXPERTISE

Collection Management (Consumer and Commercial)

Work Flow Planning

Cash Management

Billing Systems

DSO and Bad Debt Reduction

Credit Analysis and Approval

Acquisition Integration

Systems Conversions

Process Enhancement Development

Payroll Processing

Financial Analysis, Budgeting and Reporting

Accounts Receivable Factoring

Manpower Planning and Utilization

Accounts Payable

Project Cost Accounting

Contract Negotiations

Policy & Procedure Development & Compliance

Recruiting

PROFESSIONAL EXPERIENCE

Compass Group North America, ($23 billion Food Service Management Firm Hempstead, NY 2013-Present

Controller

Report to the Resident District Manager. Responsible for General Accounting, Accounts Payable, Accounts Receivable, Cash Management. Direct production of 3 staff employees.

Implemented on Campus client check scanning program to eliminate bank visits.

Through enhancements to the cash application program, improved the percentage of customers’ payments being applied electronically by 27%. This resulted in a 10% reduction of headcount.

Parsons Brinckerhoff ($2.7 Billion International Engineering and Consulting Firm), New York, NY 2008-2013

Manager of Financial Operations

Reported to the SVP/CFO. Recruited to reduce costs and streamline operations through innovative strategies and effective management. Direct production of 35 staff employees, responsible for Accounts Payable, Cash Application, Payroll, Collections and Treasury Administration.

Work closely with Senior Management team in the implementation of Sarbanes-Oxley Compliance.

Streamline and automate expense report process to a paperless function.

Successful Upgrade to Oracle R12.1.3.

Document Disaster Recovery process for AP, Payroll and Treasury Groups.

Through enhancements to the cash application program, improved the percentage of customers’ payments being applied electronically by 27%. This resulted in a 10% reduction of headcount.

Oversaw annual audits as it pertained to Payroll, Accounts Payable, Treasury and Collections.

Guidance Corporation, ($10 Million Medical Staffing and Recruitment Firm), New York, NY 2006-2008

Manager of Accounting

Reported to the CEO. Responsible for General Accounting, Accounts Payable, Accounts Receivable, Cash Management, Procurement, Human Resources and IT. Directed production of 10 staff employees.

Negotiated loan agreements, with a new lender, which provided annual savings of $250k ensuring compliance.

Ensure timely close and reconcile all financial accounts in the Accounting system.

Maintain the chart of accounts along with system controls over financial transactions

Manage the production of the annual budget and report any significant variances

Consolidated venders and negotiated lower fees resulting in annual savings in excess of $100k.

Bestcare, Inc., ($80 million Homecare Provider), Levittown, NY 2004-2006

Director of Financial Operations

Reported to CEO and COO. Directed production of 18 staff employees, including 5 Managers responsible for Medicaid, Third Party Billing, Accounts Receivable, Payroll, Cash Management, Procurement and IT.

Managed IT function, which had been outsourced. Ensured reporting, system upgrades and enhancements were completed cost effectively and on a timely basis.

Implemented electronic cash application process for major payers and reduced the division’s overall DSO 27% by implementing effective collection management. Improved borrowing ability by 18%.

Streamlined billing, cash application processes and implemented effective credit and collection policies and procedures (Compliant with the Federal Fair Debt Collection Act), resulting in the reduction of DSO by 37%

Adecco North America, ($4 Billion International, Publicly Held, Staffing Firm), Melville, NY 2000-2004

Director of Credit/Collections and Cash Applications

Reported to the Senior Vice President of Finance of this publicly held, temporary employment services corporation. The US Corporation has 1,600 offices in 50 states.

Assured compliance to corporate credit policies by franchised and company-owned temporary employment agencies with total outstanding receivables of $500 million.

Analyzed creditworthiness of clients and established credit limits. Monitored aging reports for potential problems. s.

Directed the work of 75 staff employees, including 6 managers responsible for credit approval, cash application and collections. Recruited, developed, and appraised work force in order to maintain a high level of efficiency.

Assured compliance to lending covenants in Securitization Agreements with our factoring company.

Streamlined the cash application process and implemented effective credit management, reducing the company’s overall DSO from 68 days to 48 days.

Reduced unapplied cash from $101million to $7 million.

Implemented automated dunning system which resulted in 29% reduction in DSO.

Through program enhancements, improved the percentage of customers’ payments being applied programmatically by 41%. This resulted in a headcount reduction of 23%.

Randstad North America, ($2.0 Billion International, Publicly Held, Staffing Firm), Woodbury, NY 1992-2000

Vice President of Financial Operations (1997-2000)

Director, Financial Operations (1996-1997)

Director, Credit/Collections (1992-1996)

Reported to the CFO. Directed the production of 51 staff employees, including 9 supervisors responsible for Payroll, Billing, Credit, Collections, Accounts Payable, Cash Management and Purchasing. Oversaw centralized billing, processing more than 18,000 invoices per week, including Health Force, $65 million homecare division.

Assured compliance to corporate credit policies by franchise, licensed and company-owed temporary employment agencies with total outstanding receivables of $120 million.

Managed the weekly processing of 6,500 payroll checks for temporary employees.

Streamlined billing, cash application and implemented effective collection policies and procedures (Compliant with the Federal Fair Debt Collection Act, which reduced the Company’s overall DSO from 64 days to 41 days, a 37% reduction.

Worked closely with management team in the implementation of ISO 9002 Quality procedures.

Implemented automated billing system using bar code scanning which resulted in a 67% reduction in headcount.

EDUCATION

B.S. Business Management

New York Institute of Technology, Westbury, NY

COMPUTER SKILLS

Microsoft Office Products, QuickBooks, Oracle Financial Systems,

My Finance(SAP), JD Edwards, Pathways, Pro-Health and Siemens.

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