Paul Ringrose Email and Phone Number
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A widely experienced Executive with international operating responsibility extending from Chief Financial Officer to Managing Director roles, in the Wireless Telecommunications, Consumer Electronics, Furniture Retail, Digital Banking & Software Platform as a Service sectors. Demonstrated expertise in all facets of financial leadership and a proven ability to operate at the senior executive level in both a large and a SME/start-up, highly entrepreneurial corporate environment, consistently building high performing, motivated teams and influencing & driving key change initiatives that positively impact the bottom line.
Bytefederal Australia
View- Website:
- bytefederal.com.au
- Employees:
- 4
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Co-Founder And Chief Financial OfficerBytefederal AustraliaSydney, Nsw, Au -
Co-Founder & Chief Financial OfficerBytefederal Australia Sep 2021 - PresentSydney, Nsw, AuA start up, cutting-edge technology company that is dedicated to exploring and developing innovative solutions in the areas of Crypto banking, Web3 Technologies, Blockchain, AI, Metaverse, NFTs, Digital Asset Investing, DeFi and Tokenisation. Our first product launch is a proprietary network of Bitcoin ATMs, combined with a powerful non-custodial wallet (ByteWallet).• Overall responsibility for setting up the finance function including incorporation, tax registrations, bank account set up and implementation of Xero.• Build financial modelling and associated business valuation in support of successful seed round raise of $1m.• Liaison with US head office in relation to set up of cash collection, associated banking and reconciliation controls for cash pick-ups from ATM kiosks.• End-to-end finance function tasks to manage and report the on-going financial performance and position of the business.• Regular review and updates of forecasts. -
Part Time Chief Financial OfficerLounge Lovers Furniture Mar 2021 - PresentWaterloo, Nsw, AuA furniture retailer, initially operating as an on-line only store, now operating in 9 stores in NSW, VIC, QLD and SA. With an in house designer, Lounge Lovers designs classic, modern and directional furniture styles to suit any home or space – and the buying team work direct with their makers, so they are able to offer competitive pricing without compromising on quality.• Overall financial responsibility for the company reporting directly to the CEO with 1 direct report and annual turnover of ~$80m.• Initially engaged to bring the FY’20 statutory audit to a conclusion, as this was running 6 months late. Completed this project in 3 months.• • Planned and managed the FY’21, FY’22 & FY’23 statutory audits. FY’23 was completed within 4 months of June year end.• Retained by CEO to restructure and streamline the finance team and processes. This is a work in progress with key milestones agreed, starting with reducing month end close time from 20 days to 10 days.• With the founder & CEO moving to a non-executive board position, I have taken on further CFO responsibilities, including managing tax compliance & liaison with tax agents, preparation of monthly management reporting/board pack and improvements in reconciliation of cash collections at showrooms and implementation of more frequent cash takings banking schedule and associated NetSuite reconciliation. -
Part Time Chief Financial OfficerFleet Technologies Ltd Sep 2019 - PresentNorth Sydney, New South Wales, AuA leading provider of a Platform as a Service (PaaS) for ground transportation companies including taxi, private hire and last-mile logistics. 40% owned by Artesian Venture Capital.• Overall financial responsibility for the company reporting directly to the CEO with 2 direct reports and payment turnover of $13m.• Co-presenter with CEO in investor roadshow meetings.• Preparation of financial content for inclusion in investor deck to support $4.5m equity capital raising and $2.1m convertible note issuance.• Initiated complete finance function restructure encompassing people, process and systems to drive out unnecessary cost and implement a more streamlined and automated solution for the finance function’s activities.• Negotiation of office premises 3-year lease, including an approx. 50% total incentive.• Collaborate with the company secretary to manage monthly board processes, drafting & circulation of resolutions, minute review, ASIC governance & reporting, share registry administration (including employee share option plans) and development and maintenance of corporate governance frameworks.• Cash flow forecasting – weekly for next 3 months and monthly for 2 years. Weekly forecasting accuracy is typically within ~5% variance of actual balance vs. forecast balance.• Preparation of financial submission to the ATO for the Research & Development (“R&D”) Tax Incentive for FY’20 through to FY’23 (43.5% refundable tax-offset).• End-to-end management of R&D factoring draw downs with Radium Capital in FY’21, FY’22 & FY'23 (funding amounts ~$500k p.a).• Handled all set-up matters for 50:50 joint venture company with a strategic partner including opening the bank account, ABN application, GST registration and Xero set-up including design of chart of accounts. -
Part Time Chief Financial OfficerSpotpass Sep 2020 - Nov 2022A start up in the digital media sector that provides consumers access to news from multiple media outlets with one, frictionless payment method, thereby increasing the paying audience and generating incremental revenue for content publishers.• Overall responsibility for setting up the finance function of the group including incorporation, tax registrations, company secretarial matters, bank account set up and implementation of Xero for 3 group companies.• Critically review the seed round capital raise modelling in conjunction with the CEO.• Prepare the FY21 & FY22 annual operating plan and budget and present to the board for approval.• Company secretarial duties related to company set-up, registrations, regulatory reporting, and board governance.• Preparation of financial submission to the ATO for the Research & Development (“R&D”) Tax Incentive for FY’21 & FY’22 (43.5% refundable tax-offset).• Solvent wind-up and transfer of ownership of the shell companies to one of the founding shareholder/directors
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Consulting AssignmentNorthside Veterinary Specialists Oct 2020 - Jan 2021Terrey Hills, New South Wales, AuNVS is the exclusive provider of specialist pet care on Sydney’s Northern Beaches, providing a wide range of services for small animals from a purpose-built hospital in Terrey Hills. Partnering with Northside Emergency Veterinary Service (NEVS), NVS & NEVS provide 24/7 emergency pet care.Engaged on a 3-month consultancy, the scope of work was to:• Restructure finance encompassing people, process and systems and implement a more streamlined and automated solution• Re-design the chart of accounts and implement a new naming and numbering convention to provide the foundation for efficient monthly board reporting• Implement a delegated authority structure and recommend a governance matrix• Define key performance measures and develop a management dashboard report -
Chief Financial Officer - Asia PacificBrightstar Corp. Jan 2015 - Aug 2019Miami, Fl, UsThe leading wireless industry service provider in the Asia Pacific region. Overall financial responsibility for the region with entities in 11 countries (Singapore, Hong Kong, Malaysia, China, Japan, Taiwan, South Korea, India, Philippines, Australia and New Zealand) with revenues of $1.8bn, EBITDA of $45m and a finance organization of 120 people.• Initiated complete finance function restructure including hiring a sub-regional Finance Director in Asia (Singapore based) and replacing 6 under-performing country Financial Controllers.• Reduced month end reporting close cycle from 10 days to 4 days.• Improved forecast accuracy and quality of actual vs. budget and forecast analysis for senior regional leadership, including Regional President.• Deputy Chairman role on Executive Sponsor Committee for ERP (JD Edwards One World), WMS (Manhattan) and Integration Platform (Software AG) implementations in Australia, South Korea, Hong Kong and Philippines which went live between Feb ‘18 and Aug '19. • Managed entity set up in Indonesia, China, Taiwan and Japan including successful application for concessionary VAT program and subsequent management of a VAT audit in China.• Led pan-regional cost reduction initiative to reduce SG&A by 15% in 2016 ($10m).• Kicked off a finance function shared service initiative in Q2’16. Singapore & Hong Kong transitioned in 2017 and Australia in 2018/19. Generated annualised savings of $1.5m (20% of total APAC finance costs).• Led the development, drove global management approval and initiated the implementation in early 2016 of the first ever APAC 5 Year plan (2016 – 2020). This has developed to become an annual planning process. -
Managing DirectorIngram Micro Mobility Australia (Formerly Brightpoint) Mar 2013 - Mar 2014Irvine, California, UsOne of the largest wireless consumer products distributors in the Asia Pacific region, BrightPoint became part of Ingram Micro Australia in October 2012, creating a combined organisation with 450 employees in Australia. Responsible for the Australian mobility business with revenues of $180m and organisation of 125 people.• Grew gross profit from $6.5m in 2012 to $9.7m in 2013 by increasing sales of higher margin product, improving management of inventory leading to reduced slow moving stock write downs and fewer stock outs and by building an organisation to ensure ongoing top line revenue growth.• Restructured and integrated the BrightPoint business into Ingram Micro with full continuity of service to all customer and vendor partners, including switching ERP systems from JD Edwards to SAP. Outcome was a reduction in employee numbers from 125 to 55 and a reduction in annual operating expenses of 25%.• Integrated the ongoing BrightPoint employees into Ingram Micro, including managing the move of office staff from the Northern beaches to the Eastern suburbs with minimal disruption, through successful implementation of succession plans.• Led the development, drove regional management approval and initiated the implementation during Q1’14 of the Mobility Australia 2014 strategic plan. -
Chief Financial Officer - Asia Pacific And Middle East & AfricaBrightpoint Mar 2007 - Feb 2013CFO responsibility for the region with entities in 10 countries (Singapore, Hong Kong, Malaysia, Philippines, Vietnam, India, Australia, New Zealand, UAE and South Africa) with revenues of $1.8bn, operating income of $35m and a finance organization of 80 people.• Hired CFOs in Singapore, Malaysia, India, Australia, Hong Kong, New Zealand and South Africa and built a finance team that was consistently ranked by Global HQ as the best regional finance team.• Acquisition due diligence, agreement negotiation and post-acquisition integration for 60:40 joint venture in Malaysia and 100% deals in South Africa & Singapore.• Managed entity setup in Hong Kong, Pakistan, Vietnam & Philippines including oversight of initial procedures set up and approval matrix design.• Assisted global finance team with pre-acquisition reviews in Europe and special project review in France, leading to discovery of major accounting error.• Negotiated 5 year extension to Vodafone Australia outsourced logistics services contract.
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Chief Financial Officer - Australia & Asia PacificBrightpoint Apr 2002 - Feb 2007Overall financial responsibility for the region with entities in 3 countries (Australia, Philippines & New Zealand plus India and Middle East from 2005) with revenues of $1bn, operating income of $20m and a finance function of 50 people.• Re-financed $50m and $12m debt facilities with GE Commercial Finance in ANZ.• Restructured accounts receivable team in Australia, including 80% staff replacement and reduced 90 day plus overdue receivables from $20M to $2m in 2002/2003.• Negotiated additional second mortgage security and personal guarantees from a related party entity to refinance $6m accounts receivable due from major customer in Australia.• Integrated Vodafone Australia’s logistics and distribution functions into BrightPoint as part of full 3PL out sourced offering, including billing and credit management for all customer accounts.• Led investigation and subsequent resolution with Bureau of Internal Revenue related to VAT fraud in the Philippines• Annual credit insurance renewal negotiations in Australia with progressive premium reductions (0.275% to 0.1% over 5 years) and incorporation of no/low claims bonus arrangements.
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Chief Financial Officer - China & Asia PacificBrightpoint International Ltd Jan 2000 - Mar 2002Overall financial responsibility for the region with entities in 6 countries (China, Hong Kong, Taiwan, Australia, Philippines & New Zealand plus Middle East from 2001) with revenues of $550m, operating income of $15m and a finance function of 60 people.• Closed down Taiwan entity due to recurring non-conformance with performance metrics.• Settled disputes with existing China JV partner including complex vendor and customer reconciliations.• Set up Wholly Owned Foreign Entity structure in conjunction with new local partner in China.• Negotiated $10m Hong Kong cash collateralized China debt facilities.• Successful acquisition due diligence, agreement negotiation and post-acquisition integration to acquire key competitor which increased bottom line profit by 50% in Australia.• Prepared Information Memorandum and negotiated potential strategic sale of 5% interest in Hong Kong & China business to AIG managed venture capital fund.• Negotiated initial disposal of 80% ownership of Hong Kong & China business to local Hong Kong company and the eventual disposal of the remaining 20% 6 months later.
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Chief Financial Officer - South Asia PacificBrightpoint Australia Apr 1998 - Dec 1999Overall financial responsibility for the region with entities in 3 countries (Australia, Philippines & New Zealand) with revenues of $200m.• Acquisition due diligence, agreement negotiation and post-acquisition integration to acquire accessory distributor in New Zealand.• Improved working capital management in all countries resulting in 20 day Cash Conversion Cycle reduction.• Led the project team to implement a computer-based accounting and logistics management system in the Philippines.
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Finance Director - AustraliaBrightpoint Australia Jun 1997 - Mar 1998Leader of Finance Team in Australia responsible for all financial reporting, risk management, internal controls, budgetting and cashflow management and managing all relationships with finance service providers (e.g. banks, auditors, tax advisors and lawyers).• Finalised credit insurance claim amounting to $850,000. This claim was initially rejected by the underwriter. Following lengthy negotiations the claim was paid out in full in October 1997.• Set up a two tiered bank account structure to generate transaction duty savings of $100,000 per annum.• Restructured accounts department to support the implementation of stronger controls and greater efficiency in the month end close process which was reduced from 10 to 7 days.• Formalised credit & collection policies resulting in a 5 day reduction in DSO, whilst sales revenue continued to grow.• Coordinated and implemented a complete “clean up” and reconciliation of the company’s books including reconciling accounts that had not been addressed for 6 to 12 months.
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Group Financial ControllerDigicall Ltd 1996 - 1997Responsible for the finance function reporting directly to the Group Managing Director – business acquired by Vodafone shortly after commencing employment.• Grew gross margin from zero/negative to 25% within first 6 months.• Led capital raising initiatives resulting in $20m debt facility and private placement which raised $10m.• Reduced bad debt from 15% to 3% over 15 months.• Designed and implemented key policies, internal controls and procedures.• Negotiated settlements with ATO related to unpaid sales tax and employee PAYG.• Completed end to end restructure of finance team involving 100% re-hire over 6 months.
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Senior Audit ManagerArthur Andersen 1990 - 1996Responsible for a diverse portfolio of audit clients including News Corporation and Singapore Telecom. Managed additional special project teams including Investigating Accountant reports, business valuations, acquisition due diligence reviews and information memorandum preparation to support capital raising.
Paul Ringrose Skills
Paul Ringrose Education Details
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Solent UniversityBusiness Economics & Accounting
Frequently Asked Questions about Paul Ringrose
What company does Paul Ringrose work for?
Paul Ringrose works for Bytefederal Australia
What is Paul Ringrose's role at the current company?
Paul Ringrose's current role is Co-Founder and Chief Financial Officer.
What is Paul Ringrose's email address?
Paul Ringrose's email address is pa****@****.com.au
What schools did Paul Ringrose attend?
Paul Ringrose attended Solent University.
What are some of Paul Ringrose's interests?
Paul Ringrose has interest in Sailing, Fitness, Music And Wine Collecting, Mountain Biking.
What skills is Paul Ringrose known for?
Paul Ringrose has skills like Managerial Finance, Forecasting, Mergers, Financial Reporting, Restructuring, Internal Controls, Financial Analysis, Executive Management, Financial Accounting, Accounting, Risk Management, Auditing.
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