Chuck Franklin Email and Phone Number

Responsible for managing the accounts payable, accounts receivable and payroll functions of the company. Prepare and analyze monthly statements and review operating financial results.

*Improved cash collection processes that reduced ank financing, negotiated lower interest rates with a resulting annual savings of $75K in interest. *Managed company’s relationships with outside professionals including independent auditors, insurance brokers, insurance companies and bankers. *Implemented procedures to ensure timely completion of the annual operating and capital budgets with input and co-ordination from all 4 locations. *Negotiated annual renewals for all insurance lines including health, property & casualty and workers compensation, saving $25K annually in premiums through redesigned and alternative insurance programs. *Lead a team of 7 that developed/implemented the company’s strategic plan goals and objectives. *Integrated and streamlined financial and reporting systems reducing month-end closing to 3 days (40% reduction). *Partnered with HR Director to improve company 401(K) Plan increasing participation from 62% to 73% within 12 months.

*Developed internal financial reports using Microsoft Dynamics Nav ERP software to analyze and document financial results providing in-depth departmental expense variances to all department heads monthly.*Reduced working capital needs from $6M to less than $5M by successfully implementing an action plan that improved communications between sales, marketing and operations management, lowered inventory levels by $750K and increased finished goods inventory turns from 3 to 6 within one year.*Implemented benchmarking programs within the HR department that improved company competitiveness within the labor market. Saved an estimated $250K per year in reduced recruiting and training costs due to lower employee turnover. *Administered the company 401 (k) Plan and implemented Plan changes to improve investment performance and associate participation from 60% to 82%. Implemented a Safe Harbor provision to reduce annual testing requirements that saved $15K annually.

*Provided financial expertise to entrepreneur owners during period of strong sales growth and financing needs. Sales increased from $13M to $35M. Advised owners of corporate and personal tax planning alternatives.*Created an integrated financial reporting system reducing month-end closing to 3 days. Designed and implemented a monthly variance reporting package focused on financial implications of business decisions.*Negotiated renewals/ increases in bank financing up to $15M to provide needed working capital for business expansion. Analyzed corporate casualty insurance coverage and reduced annual premiums an average of $25K.*Developed a strategic planning process providing owners with business opportunities/ alternatives to grow company both organically and through acquisitions. .*Led team of 11 charged with the selection and implementation of ERP system integrating production, sales and financial functions. Implementation was completed on-time in 9 months and under budget of $115K. *Partnered with HR to develop the benefit package that administered the 401(k) and Profit Sharing Plan. Evaluated and selected appropriate third party providers - maintaining costs in an inflationary environment.

Audited Union Station Project

Regional CPA firm