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Accomplished global corporate finance and administration professional who builds and enhances operational effectiveness, process efficiency and profitability in IT, manufacturing and services industries. Expertise in cost reduction, internal controls, and productivity improvement. Adept at general management, business planning, mergers and acquisitions, systems design and implementation, and team development and leadership. Extensive start-up experience. Agile, responsive, and with integrity consistently supports the success of large, global organizations.- Strategic Planning – Delivered hundreds of thousands of dollars in cost reduction in IT endpoint management.- Organizational Capability – Established multiple financial structures and departments from scratch.- Mergers and Acquisitions – Participated heavily in the divestiture of multimillion-dollar manufacturing company and in acquisition of four companies in Italy.- Process Design – Implemented SAP systems in two separate major organizations.
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Chief Financial OfficerElevated Facility Services May 2022 - PresentTampa, Florida, UsEFS supports several leading regional brands in the elevator and escalator MRO sector representing the largest independent, non-union provider of contractually based maintenance, repair and modernization services for all major brands of elevator equipment. -
CfoFlexlink Ab Aug 2019 - Apr 2022Company is one of the cornerstone companies within Coesia group with $300m in revenue. Assignment to prepare company for next growth step. Full global oversite of Finance and IT functions. - Reorganization of the Finance function and introduction of Shared Service concept. - Strategic partner to the CEO and member of the Leadership team. - Automation of Finance function and optimization of cash flow. - Spearheading cost reduction program on the project fulfillment side yielding sustainable +$10M bottom line. - Deepen the integration of Flexlink AB towards the HQ in Bologna. - Leading global M&A activities
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Cfo & Ict AmericasCoesia Mar 2014 - Aug 2019Company is undergoing tremendous growth through acquisition over the last 5 years. North American region grew from $250m to $400m through strategic acquisitions and organic growth with 5 manufacturing sites in North America and 1 in South America. Role was expanded to South America to replicate the North American success.Recruited by board in Italy to establish regional concept and lead companies in North America to second phase of growth. Overseeing all aspects of Finance and IT function. Dual role with direct operational oversight of the largest manufacturing company. Role was expanded to South America to replicate the North American success.- Closed acquisitions within North America >$30M in revenue- Strategic partner of CEO in all aspects of the business- Delivered sustainable bottom line $10M in SG&A reduction- Integrated multiple divisions into NA Coesia region- Built up Shared Services for Finance, IT, Legal and HR- Pushed EBIT margin up by 10%- Successfully implemented SAP into four manufacturing sites
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Vp FinanceThyssenkrupp It Services Na Nov 2011 - Feb 2014ThyssenKrupp IT Services North America, Atlanta, GA - Global conglomerate with 130,000 employees serving multiple markets with industrial and commercial products and services.Company undertook a strategy to consolidate the IT operations of ThyssenKrupp worldwide into shared services. Started as a 100% Greenfield, the IT shared services capability will support more than 16,000 users and administer more than 40,000 IT assets.Recruited by company executives to establish, grow and lead entire finance function. Built and lead team of 13 finance professionals, managers and support staff. Oversee strategic planning, development of scalable financial processes, and day-to-day procurement and IT asset management. Identify and implement innovative financing strategies to consolidate and lower costs.- Automated asset flow for 40,000 assets, reducing cost of IT endpoint devices by 35%, or $4.2M.- Delivered 27% reduction in procurement costs, or $250K.- Reduced purchase order volume by 80% and reduced PO costs by 23%.- Lowered 70% of company’s A/P volume, from 1,800 to 540 invoices.- Implemented new SAP ERP system and streamlined end-to-end project workflow processes.- Introduced chargeback model for multiple IT infrastructure services.
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Director AccountingThyssenkrupp Steel Americas Jan 2009 - Oct 2011ThyssenKrupp Steel Americas has $10B in Greenfield projects in Brazil and US which provide a strategic entry into the growing premium segment of flat steel markets in the NAFTA region. Strategy required unique combination of international and US financial practice expertise.Selected by company leadership to establish all financial systems, processes, infrastructure and organizational capability to support the new division with a yearly sales target of $5B. Recruited and led team in managing all budgeting for the Americas business area, managing closing and reporting of all financials, and determining accounting standards. Collaborated with mill leadership in reviewing accounting strategy for multiple construction projects.- Developed accounting strategies and optimized accounting function through implementation of SAP system and process flow improvements.- Implemented and coordinated budgeting process for both steel mills.- Led continuous improvement of the monthly reporting process, assuring compliance with IFRS and local GAAPs.- Reduced the month closing process by three days.
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Corporate Finance ManagerThyssenkrupp Elevator Usa Jan 2005 - Dec 2009This was the largest manufacturer of elevators in the Americas, with 13,500+ employees, 200+ branch and service locations, and $2.7B+ in sales, but it grew through acquisition and had a complex, fragmented organizational structure. It needed a financial leader who knew the business and could help establish a seamless financial strategy to create cohesion across the company.Promoted to lead the budget, closing and reporting process of the operating group, covering 20 companies in 13 countries, with $3B in annual revenue. Directed a team of 30 cross-cultural finance professionals and support staff. Participated heavily in due diligence for acquisitions and divestitures.- Drove 5% margin improvement in new installations.- Introduced and drove an innovative and more efficient quoting process.- Divested a manufacturing subsidiary, resulting in a $2M gain.- Shortened the monthly closing and reporting process by two days.- Improved the senior management controls and decision making.
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Group ControllerThyssenkrupp Elevator Ag Feb 2003 - Dec 2004Company was on a global growth campaign and needed expertise to manage the financial integration of acquisitions.Recruited to oversee implementation and adoption of TK accounting and reporting structures and business practices by recently acquired companies. Responsible for the reporting/budgeting of $100M business area.- Acquired four companies in Italy, creating a strong footprint in the third largest elevator market in the world.- Implemented Hyperion Enterprise and HFM (Hyperion Financial Management) into newly acquired companies. - Established integration standards and best practices for the business unit.- Created a post-merger database to guide and track integration progress.
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Business ControllerSiemens Nixdorf Industries/Wincor Nixdorf International Nov 1999 - Feb 2003Leading provider of IT solutions and services to retailers and retail banking with a presence in 100 countries and more than 9,000 employees.Brought in to oversee company accounts, collection, consolidation and analysis of data from 14 service centers in support of the launch of the services division of the company. Held monthly business reviews within each service center. Implemented group-wide accounting procedures. Introduced, designed and led annual planning. Conducted SAP trainings for employees.- Established database to improve billing workflow process efficiency.
Thorsten Koch Skills
Thorsten Koch Education Details
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Becker CpaAccounting -
Paderborn UniversityBusiness Administration/Management
Frequently Asked Questions about Thorsten Koch
What company does Thorsten Koch work for?
Thorsten Koch works for Elevated Facility Services
What is Thorsten Koch's role at the current company?
Thorsten Koch's current role is CFO at Elevated Facility Services.
What is Thorsten Koch's email address?
Thorsten Koch's email address is th****@****ink.com
What is Thorsten Koch's direct phone number?
Thorsten Koch's direct phone number is +336223*****
What schools did Thorsten Koch attend?
Thorsten Koch attended Becker Cpa, Paderborn University.
What skills is Thorsten Koch known for?
Thorsten Koch has skills like Global Business Practices, Auditing, Leadership, Business Process Design, Sap, Accounting, Financial Process Improvement, Corporate Finance, Margin Optimization, Cost Accounting, Executive Financial Management, Start Ups.
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