Ray Borgaard Email & Phone Number

Provide guidance on managing financial assets, reducing day's sales outstandinf (DSO) and improving cash flow within accounts receivable and collections. Strategic thinker capable of analyzing financial issues and processes in order to implement changes that improve efficiency. Have successfully worked with small to medium sized companies, as well as Fortune 500 corporations, achieving desired results. These results have included, but not limited to initiating cost saving procedures, increasing staff productivity, and adding "value added" experience to improve customer satisfaction, while promoting future marketing opportunities.

Wauconda, Illinois, United States

Senior management professional responsible for Accounts Receivable portfolio.This includes,but not limited to,the collections on all amounts that are delinquent within Company's parameters.Responsible for reducing over 60 days delinquency by $9 million over 12 month period,and reducing DSO.Put processes and procedures in place to improve customer experience,while providing "Value Added Service". Monthly meeting with Executive leadership team to review all customers that could become collection issues.

Wauconda, Illinois, United States

Hoffman Estates,Illinois

Provide guidance on managing financial assets, reducing day’s sales outstanding (DSO) and improving cash flow within accounts receivable and collections. Have successfully worked with small to medium sized companies, as well as Fortune 1000 corporations, achieving desired results. These results have included, but not limited to initiating cost saving procedures, increasing staff productivity, and adding “value added” experience to improve customer satisfaction, while promoting future marketing opportunities.

Lake Forest,Illinois

Directed 2 assistant managers, 20 accounts receivable representatives and 1 administrative staff to maximize collection efforts while promoting superior customer service. Developed corporate credit and collection policies and procedures.Key Achievements:•Improved daily cash collections by $18M (17 percent) over 3 months.•Reduced DSO from 48 to 45 days over a 3-month period.•Streamlined and enhanced collection by defining parameters and selecting and implementing new accounts receivable software that improved collection call efficiency by 35-40%.•Increased cash flow and decreased delinquent receivables.•Introduced staff incentive plans that improved morale and reduced over-60-day delinquencies by $1.3M over 3 months.

Barrington,Illinois

Oversaw financial management, including accounts receivable, customer service and operations.Key Achievements:•Grew the company’s net income through improved cash flow and accounts receivable.

Rosemont,Illinois

Director, Accounts Receivable (1999-2003)Managed 19 accounts receivable representatives and 2 supervisors. Negotiated complex payment arrangements with Fortune 50 to Fortune 500 clients. Partnered with marketing and sales teams to facilitate collection efforts and with legal department and credit committee during default and bankruptcy processes. Introduced incentive plans. Conducted staff seminars and regional meetings.Key Achievements:•Decreased over-60-day receivables by 35% ($17.5M) over a 1-year period by tightening collection deadlines from 60 to 35 days.•Achieved $3M in additional revenue over 3 years by introducing a lease rental late charge.•Improved up-to-date receivables from 75.6% to 95.4% in 1 year.•Increased cash flow and decreased DSO.•Reduced bad debt losses by 40% annually and maintained losses below corporate guidelines.

Rosemont,Illinois

Conducted litigation audits to minimize potential risk. Introduced new incentive plans. Streamlined and standardized processes and procedures. Conducted litigation audits.Key Achievements:•Grew the department from 2 to 21 employees handling $350M in monthly receivables.•Regionalized the department and implemented standardized, streamlined processes and procedures that improved accuracy and efficiency.•Awarded the first “Supplier Excellence Award” presented by Texas Instruments to an Accounts Receivable Manager.•Improved collections for over-60-day delinquent accounts from 65 percent to 80 percent.