Jay Adams Email & Phone Number

Foxborough, Massachusetts, Us

HIRED AS CFO INTO THIS PRIVATE EQUITY BACKED FIRM. THRIVE IS A $350M+ RAPIDLY GROWING TECHNOLOGY SOLUTIONS PROVIDER WITH 95% MONTHLY RECURRING REVENUE (MRR) FOCUSING UPON CLOUD, CYBER SECURITY, NETWORKING, DISASTER RECOVERY AND OTHER NEXT GENERATION MANAGED SERVICES. * Merged two companies at the outset to form Thrive, and subsequently acquired 20 more companies through private equity and EBITDA based bank debt financing.* To date, have grown gross margins from 35% to >50%. This was done through sophisticated financial modeling, increased utilization rates, reduced time to resolve (TTR) tickets, and consolidation of tools and data centers through growth and acquisitions. As a result, we recapped the company with a larger PE Firm, producing a 5.2x return to its investors in just four years.* Acquisition Integration - Integrated 22 companies for purchase accounting, opening balance sheet audit, valuation of intangibles and deferred revenue, and purchase price allocation. * Built monthly financial and metrics package all based around Monthly Recurring Revenue (MRR) and Customer Retention (Reducing Churn).* Built a team of traditional Finance, HR, Legal, and Recruiting functions, as well as FP&A and M&A.* Helped build a platform that will facilitate a roll-up strategy, including moving all acquired companies to Great Plains Dynamics for ERP and ServiceNow for ITSM/Ticketing System.* Manage all covenants around a bank loan and A/R Line of Credit.

Waltham, Ma, Us

HIRED AS CFO TO SPIN OUT THREE COMPANIES (2 U.S. and 1 EUROPEAN) INTO A NEWLY FORMED, $20M PRIVATE EQUITY BACKED FIRM* As there was no G&A function in the new company and 300+ customers, I was hired to lead all post acquisition activities, including: selecting and implementing new accounting software, building a finance and HR team, implementing payroll and benefits, helping build outsourced IT function, implementing cloud based T&E system (Concur), and securing new office space. This all had to be done within 90 days before the transition services agreement with the old company expired.* Led the effort integrating three companies for purchase accounting, opening balance sheet audit, valuation of intangibles and deferred revenue, and purchase price allocation. * Built extremely detailed monthly financial and metrics package in conjunction with the private equity firm.* Continue to help transform the business from uneven and unpredictable to ~50% SaaS based – providing content as a subscription, and lists that could include contacts or technology installed base, a subscription.* Closed $4M in A/R Line and helped raise $2m in additional capital

Braintree, Ma, Us

ENSURED FINANCIAL VIABILITY IN SHIFTING MARKETPLACE* As company shifted focus from middle-tier consulting projects, devised pricing and revenue strategies that drove profit on short-term engagements; deployed resources to guarantee cash flow and margins.* Evaluated P&L to cut excessive expenses; restructured SG&A to eliminate $1M in nonessential expenses.* Equipped sales team with pricing model that cost out projects easily and required sales team to earn CFO approval on each proposed project, ensuring adequate profitability for each engagement.IMPROVED INFORMATION TECHNOLOGY SYSTEMS FOR GREATER EFFICIENCY* Revamped, consolidated, and updated IT hardware and software systems for technical and cost efficiency, saving $200K annually.* Integrated SaaS-based programs, including QuickBooks and Replicon.

Hired as venture capital-owned startup’s first CFO to mature finance organization, including reporting and recording. Established disciplined financial reporting process, internally and for investors.* As first professional finance leader in startup environment, streamlined internal controls and reporting package for board of directors and investors. * Provided first disciplined accounting system, forecasts, and budget projections.* Partnered with fellow executive team to transform company from product licensing to subscription model, including revenue recognition model.* Worked with attorneys and development team on patent issuance. Managed process with patent attorneys. Coordinated process related to resolving issues with patents.

Us

Recruited by CEO (former colleague at Kenan) as vice president of finance. Earned promotion to CFO within two years, overseeing finance strategy for company in high-tech software, venture-capital backed startup in web services space with peak revenues of $30M. Directed all daily business of finance processes.* Recapitalized company; worked with lawyers and investment bankers to provide fairness opinion on valuation. * Reported to venture capital investors on issues related to $140M backing.* Reduced receivables DSO significantly with aggressive, organized approach.

Us

Hired to grow accounting team and to impose strict financial management; subsequently promoted to CFO. Key win: Guided due diligence and related processes for exit strategy / sale to Lucent Technologies. Oversaw rapid, organic growth from 100 to 650 staff in United States, Singapore, Australia, Paris, and London. Continued with Lucent for nearly two years subsequent to sale. Directed team of 10 accounting and finance professionals.MATURED FINANCE SYSTEMS WITH TRANSFORMATION FROM SERVICES TO SOFTWARE SALES MODEL* Oversaw finance operations as company grew from $10M to $200M telecom billing software company.* Developed global infrastructure for finance department.* Built reporting system for new revenue streams, budgets, and forecasts in international environment.LED DUE DILIGENCE FOR $1.5B SALE TO LUCENT TECHNOLOGIES* Hand-selected to privately lead due diligence process for $1.5B sale to Lucent, representing owner’s interests and collaborating with legal counsel on both sides of deal.* Collaborated on integrating smaller company into Lucent. Mapped people, systems, and enterprise into bigger organization and recommended strategies for integration of core software business plus consulting business. * Acquisition became basis for Harvard Business School Case Study.

London, Gb