Accomplishments 1995-2001

The owners wanted to take advantage of the favorable tax treatments of an Employee Stock Option Plan (ESOP).  The company was debt free and the ESOP was going to be financed by issuing debt. The books were subject to stringent audit review by bank auditors as well as the company's auditors.  The banks competed for the debt package based upon the information developed: The two owners of the company split $40 million tax-free dollars and each employee realized a pre-tax cash contribution to their 401(k) plan - 40% of the company was placed in employee ownership.

 

Brown & Williamson Tobacco awarded the company the largest contract in company history and required new reporting systems to track, invoice and provide weekly status reports. Links were created from the ERP software to Excel automatically creating Key Performance Indicators (KPIs) and spreadsheets for B&W executives: The contract awarded resulted in $75 million of revenues at a 40% gross profit and $35 million cash generation.

 

Created a statistically accurate cash receipt forecast tool exceeding 95% accuracy on a 13 week roll forward basis.

 

Reduced the closing cycle from 30 days to 5 in six weeks.