Bill Herrmann Email & Phone Number

Itasca, Illinois, Us

I guided the global accounting, treasury, and IT operations for a company during the challenges of COVID. In this role, I led 20+ staff in Illinois, California, Oregon, Mexico, Singapore, Malaysia, and China in supporting global annual audits, banking relations, insurance, corporate governance, tax compliance, and transfer pricing reviews.● Transitioned Accounting operations from California to Chicago, with corporate staff in Itasca, IL, which reduced annual costs and lowered reporting results from 20 to 10 days.● Negotiated a $20M line with the bank to assist with cash flow needs during the pandemic.● Implemented global standard costing updates to align costs with economic reality.● Saved 30% by negotiating a new P&L insurance contract while increasing coverage.

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Interim CFO in charge of banking relations, external audit relations, insurance renewals, IT department and data extraction and analysis using MS Access and Excel ODBC tools.

Waukegan, Illinois, Us

I was brought into the multi-million dollar organization to reorganize the accounting department, including staff hiring and training, procedure development and implementation, and improved stakeholder relations. As CFO, I led reporting, banking, inventory, costing, audits, and IT efforts. I replaced Controller and reorganized staff, completed a year-end review with an accounting firm, completed a financial exam by the bank, completed an audit by the State of Kentucky, sold an affiliated company, and moved IT under Finance in the first four months.• Built new covenants with banks and received waivers for three quarters of broken covenants, restoring relationships within two months.• Reduced time for month-end statements to be available from 30 days to 10 days after close.• Implemented controls to manage the Line of Credit and compliance, leading to AP discounts and leveraging the borrowing base lower discounted cash position.

Wood Dale, Il, Us

Carol Stream, Il, Us

CFO responsible for all aspects of financial reporting, payroll, taxes, cash flow, banking, accounts payable, accounts receivable, costing and strategic planning. System expert that has brought automated solutions to manual processes to gain important efficiencies. Key member of the Advisory Board while presenting consolidated financial results, budgets and trends on a quarterly basis. Prince Industries is a premier manufacturer of precision machined and sheet metal fabricated components with facilities in the US and China.

Chicago, Illinois, Us

Corporate Controller reporting directly to the CFO for a manufacturer’s representative firm and importer specializing in direct imports from Asia to “big box” retailers. As Controller for importing division established process for import documentation and factory relationships, report directly to the Divisional President and Director/Principal of China organization. Lead staff of up to 14 employees (including three managers) responsible for all financial statement reporting to the CFO and Board of Directors, annual Audits by the external CPA firm, federal and state tax reporting, international tax reporting, federal and state tax audits and cash management of our $10 million line of credit. Responsible for the accounting IT infrastructure and reporting within the Sage Accpac Accounting system. Develop and maintain relationships with key Asia factories to ensure payment terms, document flow, and timely shipping of goods.

Founded and built firm specializing in computerized solutions for back office accounting within mid-sized manufacturing and distribution companies. Focused on accounting and operational reviews to streamline reporting, automating job functions and introducing technology-based solutions within the accounting and operational departments of its more than 40 clients. Created management reporting tools including Financial Statements Packages presented to external auditors.

Performed computer control assessments for Coopers & Lybrand audit clients within the middle market manufacturing and distribution industries. Responsible for consulting engagements for new application implementations, departmental budgets, operational and system reviews, staffing and performance evaluations. Key Computer Assurance Service liaison with the Financial Audit staff for assistance with management of client’s financial audit reviews

Us

Brought onboard to start up IS Audit Department. Planned and tested new manufacturing system from development through implementation. Created a full range of audit programs to be used for testing against G.A.A.P. and operational procedures.

Bs, Accounting

Education record