Jeff Devaney Email & Phone Number

Stamford, Ct

Key member of the executive team actively involved in strategic business planning. Oversee all general accounting, SEC filings internal financial reporting, federal and state tax compliance, budgeting, and forecasting as well as managing the patent portfolio and human resource functions. Partner with SEC reporting attorney, insurance consultant, and patent attorney. Prepare business for annual audits.• Instrumental in catapulting annual revenue from $2 million to $14.9 million on a software as a service revenue model. Championed a product launch pricing strategy that resulted in improved market penetration. Designed and implemented a new sales commission plan, which incentivized the sales force to generate higher volume sales.• Collaborate with executive team to develop long- and short-term business objectives, including strategic decisions regarding product development, sales goals, customer service objectives, and the progress of development projects.• Coordinated a $4.3 million securities purchase agreement and a debt conversion agreement of $5.7 million to reduce the company’s outstanding debt by $10.0 million.• Direct the sales force in the development of sales proposals and pricing agreements. Negotiate major client contracts in consultation with outside counsel. • Effectively managed cash flow, minimizing the need for additional funding and accommodating dramatic growth of business.• Renegotiated a software licensing agreement, revising contract from a percent of revenue generated per unit to an annual flat rate, realizing $1 million in savings in five years.• Upgraded accounting systems, resulting in improved quality of financial reporting and preparing organization for compliance with Sarbanes-Oxley requirements.

Milford, Ct

Recruited as a member of the new management team charged with transforming a $3 million privately held advertising agency into web based provider of professional marketing services. Managed the preparation of financial statements, budgets, cash flow, and tax filings. • Developed a five-year business model, which served as the basis for executive presentations to venture capitalists. Designed an on-demand pricing model, a structure for corporate reorganization, and a marketing strategy targeting advertising agencies.• Contributed to firm ranking as one of the CT Technology 50 Fastest Growing Companies.

Fairfield, Ct

Initially hired by SageMaker, Inc., a small portal software company, to prepare business for IPO. Rapidly adapted to new responsibilities when business was acquired by Divine, a $300 million publically held technology firm.• Upgraded the internal and external financial reporting functions, and integrated financial reporting systems of two new corporate acquisitions. Developed an international transfer pricing tax strategy for overseas divisions.• Served on the due diligence team for the purchase of a $400 million public company. Managed financial diligence and integration planning for an $80 million public company acquired by Divine.

Shelton, Ct

Directed the general accounting and financial reporting of a worldwide provider of interactive software solutions and consulting services. Oversaw the consolidation of domestic and foreign subsidiaries financial statements, the preparation of internal and external worldwide financial statements and SEC filings. Prepared annual department budgets as well as quarterly revenue and expenditure forecasts. Managed federal and state tax compliance.• Built Accounting Department from 4 to 12 employees to support company’s growth from $18.3 to $49 million in annual revenue.• Implemented new accounting systems and developed controls needed for a public company. Developed financial elements of S-1 filing, resulting in successful $32 million IPO.