Grey GroupCFO
Jun. 1999 - Jan. 2007MéxicoGrey Worldwide, Grey Interactive, Worldwide Mediacom, GCI Group, G2, Grey Direct & Beyond Interactive) POSITION: V.P. / Finance and administration Director. RESPONSIBILITIES:
Budget, Forecasts and Projections.
Comptroller, Accounting, Taxes & Treasury.
Corporate Finance, manage company's capital structure to achieve leverage and cash flow objectives.
Analysis & reporting of any CAPEX, acquisition, growth and diversification proposal independently of the business line from the Finance, Administration & Accounting POV. Human Resources.
Legal department (outsourced).
Supports Company's management with the different tools, reports and interpretations of any financial information as well as negotiations with clients and suppliers.
ACHIEVMENTS:
Successful consolidation of the back office department creating a real team work and serving 5 companies and 2 business divisions.
Successful Implementation of the ERP (in house development), with working orders control, media buying, profitability per client and per business unit (cost control) and budgets modules. Reengineering of administration procedures under a complete safe environment and implementation of internal control policies requirements like policies , procedures and controls to comply with Sarbanes-Oxley Act, achieving green grade on September del 2006
Financial statements delivery time was brought down into 5 working days from 13 days.
We achieved an increase of 18% in profitability on consolidation base, exceeding the past record, thru cost and expenses control and reduction. In 2003 the lease contract was successfully renegotiated achieving 25% on annual savings vs. 1999 of USD 250,000.00 and on taxes USD 750,000.00 in cash flow
Restructuring of the IT area and implementation of tools for remote communications.
DSO reduced from 90 to 45 days and on liabilities by USD 6'500,000.00 due to liabilities repayments and capitalization.
Involved on analysis, valuation and negotiation on merge & acquisitions