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Sales Accounting

Wake Forest, NC
October 17, 2019

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Sam Duffort, CPA

Raleigh, NC 919-***-****

Executive Summary

Hands-on, strategic Chief Financial Officer (CFO) with over 20 years of experience with growth, start-up and public companies in a broad range of industries including Software as a Service (SaaS), higher education, human resources, investment management and technology services. Managed the financials, strategic planning, operational reporting and back-of-the-house operations for start-ups through $100+ million organizations. Core competencies include:

Financial Planning & Analysis

Executive & Board Reporting

Private Equity and Venture Capital

Revenue Recognition

Security and Compliance

International Accounting

Operations/Process Improvement

Treasury and Risk Management

Mergers and Acquisitions

Team Building/Scaling

Professional Experience

Consultant Fractional CFO 2018 to Present

Sense Photonics, New Kind, Elevon – Raleigh, NC

Serve as interim finance executive for a $26 million funded technology start-up, focusing on planning, bookkeeping and board reporting. Completed strategic planning for a high growth branding and marketing agency and created management reporting to measure results. Advising a SaaS start-up on product validation, business planning and raising capital. Completed ASC 606 adoption reviews.

Chief Financial Officer 2015 to 2018

Percona – Raleigh, NC

Responsible for all accounting, financial, sales operations, legal and compliance activities for privately-owned, international, open source SaaS company. Developed long-term strategic business plans with senior leadership and implemented operational reporting. Implemented accounting policies including ASC 606. Hired and led 11-member staff.

·Positioned the company to raise capital by restating 3 years of financial statements and creating SaaS reporting metrics for stakeholders.

·Partnered with Product Management and Sales to shift the sales and delivery models to align with customers’ needs, increasing monthly recurring revenue 18% year over year.

·Led the Security and Compliance team in the creation of a data privacy roadmap to meet regulatory compliance with GDPR.

·Oversaw the systems and reporting integration of a strategic acquisition (Tokutek).

Chief Financial Officer 2013 to 2015

Greene Resources – Raleigh, NC

Managed all accounting and financial matters for staffing and human resources consulting firm with revenues of over $50 million. Partnered with the CEO and COO to develop and implement the annual strategic plan. Calculated monthly sales commissions. Monitored compliance with employment regulations and client requirements.

·Implemented procedures and controls to comply with new Affordable Care Act (ACA) requirements.

·Collaborated with the executive team to win and onboard the company’s largest account within the last 5 years, accounting for an increase in annual revenue of 20%.

·Reorganized payroll and accounting functions to increase efficiency and customer service.

Director Finance 2008 to 2013

Duke University – Durham, NC

Owned the financial planning & analysis (FP&A), project accounting and capital plan for 9 business units (construction/project management, utilities, energy management, engineering, building maintenance, housekeeping and grounds keeping, sanitation and recycling) with operating budget of $100+ million and capital budget of $180 million. Supervised a team of 12 financial analysts and accountants.

·Developed financial models to evaluate cost effectiveness of existing operations, resulted in annual savings of over $8 million.

·Created quarterly operational scorecards that led to re-organized operating units and higher quality services.

·Reorganized the business services team to increase engagement with internal and external customers.

FP&A Consultant 2008

Burt’s Bees, Talecris – Raleigh, NC

Provided financial planning and analysis (FP&A) expertise to private equity backed and high growth companies. Projects included:

·Burt’s Bees – Implemented new sales and manufacturing forecast systems and reporting after their $925 million sale to Clorox.

·Talecris – Created operational reporting and KPIs to prepare for their $3 billion sale to CSL.

Finance Lead 2005 to 2008

Red Hat – Raleigh, NC

Instituted company-wide internal Profit & Loss (P&L) reporting to increase transparency and accountability. Developed annual budgets and targets with senior management. Analyzed actual results; updated monthly sales/revenue forecasts. Managed the financial planning and analysis (FP&A) of Sales and Marketing’s $240 million budget. Prepared quarterly reports and dashboards for board of directors and executive leadership. Calculated sales commissions, product and project revenue.

·Implemented internal P&L reporting that led to company-wide restructuring of the sales model to focus on channel sales and changed the product model from server based to virtual machine offerings. Revenue to grow from $279 to $522 million.

·Evaluated target companies as an acquisition team member. Acquired companies valued over $420 million.

Senior Associate 1998 to 2003

BlackRock – New York, NY

Built and co-managed a team of 16 treasury analysts from the ground up to perform daily accounting and reconciliations, monitor risk, and cash management for $165 billion in assets.

·Integrated accounting and operations of acquired asset management companies.

·Cleaned up legacy issues and implemented controls in preparation for Initial Public Offering (IPO).

·Scaled the treasury operations during tremendous growth – 400 more accounts and $100 billion more in assets.

·Managed risk by auditing daily transactions executed with brokers and clients’ custodial banks.

Computer Software, SAP, Oracle, Intacct, QuickBooks, Hyperion, Microsoft Excel, Business Objects, SAP Business Intelligence, Harvest, Visio, Zendesk, Liquid Planner, Infor, Axys, Access, Microsoft Office

Education and Certifications

Certified Public Accountant (CPA) – North Carolina Certificate # 42436

Master of Business Administration – The University of North Carolina at Chapel Hill

Concentration in Finance and Supply Chain Management

Bachelor of Arts – The University of Chicago

Concentration in Environmental Studies


Triangle Angel Partners – Investor in start-up and early stage companies

American Institute of Certified Public Accountants – Member

North Carolina Association of Certified Public Accountants – Member

RTP CFO Forum – Member and volunteer

Wake Forest Presbyterian Church – Giving Committee

The Leukemia and Lymphoma Society Team In Training - Marathon runner, fundraiser

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