Elaine Russo Email and Phone Number

Manage strategic Global Supply Management projects

Provide Data and Process Analyst consulting services to client's Information Technology Division.- Recovered $200,000 in lost revenue for client related to data integrity issues in internal inventory management/billing system. Annual revenue recovery estimated to be $1 million.- Extracted and analyzed data in world-wide workstation inventory system containing over 20,000 items. Developed metric and process for tracking data and inventory accuracy using Six Sigma techniques.- Identified root cause issues and recommended appropriate solutions.

Managed processes related to monthly financial close, quarterly forecasts, and annual budgets for division and over 20 locations across all global regions. Performed comparative financial analysis, as needed, to explain results or answer management questions.- Reduced process cycle time 30% by analyzing and streamlining several key month-end closing processes.- Improved quality and efficiency of information analysis by designing and implementing Longview Khalix business reports to extract sales, operating expense, capital, and headcount data.- Eliminated errors from forecasts and budgets by developing and instituting standardized error detection programs and processes.- Advised division personnel on appropriate activities and documentation of required Six Sigma process improvements, resulting in reduced month-end closing and quarterly forecasting cycle-time reductions.

Spearheaded cross-functional, global finance projects, including activities related to system and policy changes. Built and maintained and communicated cross-functional project plans for large global projects. Coordinated change management plans with key stakeholders. - Achieved cash savings averaging over $20 million a year by managing project to restructure over 30 legal entities worldwide. Translated functional requirements to PeopleSoft Finance system changes. Executed Legal and Tax statutory documentation as required by local authorities.- Via consolidation to one regional bank, saved $200+ million per year via new banking system interfaces and process standardization/improvement. Reduced banking relationships 95% and bank accounts 67% in multiple Asian countries. Defined, tracked, and managed functional and technical project plan. Designed system configuration settings and detailed test plans. - Obtained $1+ million (annual) savings in accounts payable processing by reducing discounts not taken, decreasing vendor overpayments, and streamlining of accounts payable work process. Defined, tracked, and managed detailed project plan for Six Sigma project (Define phase through initial implementation). Performed data and financial analysis through all project phases.- Led initial Six Sigma project plan to improve corporate cash flow by extending vendor pay terms without negatively impacting corporate discounts.

Managed NAFTA consolidated accounts payable operations, including invoice processing, payment, electronic imaging, and call center management. Supervised up to 27 cross-discipline team members.- Automated, standardized, streamlined, and designed error detection tools to reduce accounts payable transaction costs. Reduced transaction processing costs 41% and invoice defect processing 16% in two years. - Increased electronic invoice processing 24% in less than one year as part of project team to design and convert paper invoice processing to EDI.- Attained clean audit opinions (with no significant findings) by streamlining and updating audit and internal controls processes for the accounts payable function.

Provided project leadership to NAFTA finance projects, including activities related to corporate system and policy changes. Coordinated efforts of cross-functional project teams. - Led cross-functional team that designed and implemented PeopleSoft enhancement to replace last-remaining legacy corporate billing system, resulting in annual cost avoidance of $1 million via the elimination of the legacy hardware infrastructure.- Centralized and consolidated remote accounts payable system and processing as part of project team to form NAFTA Shared Services Center, resulting in multi-million dollar annual cost savings.- Improved data quality and saved estimated $500+ thousand annually as part of project team to outsource $100+ million annual freight invoice volume. Led vendor selection process using Kepner-Tregoe processes. Designed and implemented system interfaces to outsourcer.

Directed all financial-related functions (inventory, payroll, assets, accounts payable, operating expense reporting/forecasting/budgeting, plant operating metrics, capital, and functional project leadership) for the largest manufacturing facility in the division. In 2000, plant recorded sales of $800+ million and increased units shipped 300% from 1999. Reporting directly to the Plant Manager with dotted-line to division Business Controller. Managed up to 12 multi-function accounting personnel.- Improved operations management as Finance leader on project to design and implement manufacturing variance reports (e.g., labor and material variances; actual manufacturing costs; shrinkage).- Designed accounting and logistics processes for spin-off of two additional new facilities needed to handle explosive product growth. Led training and start-up efforts for new accounting personnel in those facilities.- Designed and implemented new accounting and logistics processes for material handling with other division plants, other plants outside the division, and outsource manufacturers to enable accurate accounting of all materials and US Customs compliance.

Managed daily operations for the primary manufacturing facility, reporting to the Plant Controller. Functional responsibilities included sales, inventory, accounts payable, operating expense reporting, plant operating metrics reporting, payroll, fixed assets, capital, and functional project leadership.- Directed the redesign of the month-end closing and consolidation process, reducing overtime by over 50%. - Streamlined inventory processes including those involving resale businesses, consignment inventories, and accounting within the PeopleSoft enterprise system to ensure accurate financial reporting. Inventories affected totaled over $60 million.

Led and performed corporate and manufacturing facility Information Technology (financial transaction processing and system security) and Finance audits. Developed integrated audit techniques for business and technical assessment of corporate finance applications.

Designed, programmed, and supported business applications for corporate customers. Managed project team implementations and performed all phases of project development from feasibility to post-production support.