Costs, Productivity and the Bottom Line

CFO Roundtable
Cost, Productivity and the Bottom Line
November 4th, 2009

The CFO Roundtable is providing a forum for participants to exchange experience and knowledge around the important topics of Cost, Productivity and the Bottom line.  Breakout groups will be moderated by CFO subject matter experts on the following four topics:

• Outsourcing
• Productivity Improvements
• Controlling Benefit Costs
• Alternatives to Reductions in force (RIFs)

Learning Objectives

After attending the course, participants should:

• Know the types of business functions that can be outsourced (software development, IT, human resources), the pros and cons of outsourcing, effective techniques for managing outsourced functions
• Learn ways that finance can help organizations do more with less, drive top line growth and provide metrics to measure productivity
•  Understand the variables for lowering benefit costs beyond reducing employee benefits during times of increasing premiums
• Learn alternative ways to reducing labor costs beyond laying off workers

Program Content

• 8:00 - 9:00 am   Roundtable discussions (4 different groups & topics)
• 9:00 – 10:00 am – Roundtable presentations (4 groups; 15 minutes each)

Participants will be divided into four groups based on subject matter preference (You will be asked to identify your top 2 preferences when you register for this event.)  CFO moderators, who are subject matter experts, will have a list of questions to pose to the group to facilitate dialogue.  Every participant is encouraged to share personal experience on the subject and to ask questions to learn more about the subject.  Each group will discuss its assigned topic for 1 hour and summarize the key points to be shared with participants in the other breakout groups.  Participants will assemble and the Moderator of each of the four groups will have fifteen minutes to present the summary take-away learnings for that topic.

Moderators of Break Out Groups

• Outsourcing:  Susan Fletcher, CFO, Spinnaker New Technologies 
  Since 2008 Susan Fletcher has served as CFO for Spinnaker New Technologies US, Inc.   Prior to joining Spinnaker, Susan spent the previous sixteen years as part owner and CFO for Mercenary Industries  Inc, whose principal business was concentrated in professional audio retail sales, custom equipment design and installation, as well as recording and acoustic services.   With the company since its inception, Susan was principal in establishing innovative financial strategies, systems, and processes required to keep up with the company’s repeated changing focus, typical of a technology based company.  Critical to the strategic planning was the close integration of IT services and systems.   Mercenary was at the forefront of online retail sales, having established its first online store in 1995.  Susan recently completed the successful sale of this business, in spite of the recent economy. Susan also brings a bridged background of design and engineering to her financial expertise, having received her Bachelor of Science in Art & Design from MIT, while minoring in Economics.  Ms Fletcher spent several years working as an Acoustical consultant for Bolt, Beranek, & Newman Inc. prior to entering the financial management field.

• Productivity Improvements:  Tom Huntington, CFO, Vela Systems, Inc.
  Tom brings seventeen years of finance, strategy and technology experience to Vela Systems. Prior to joining Vela Systems, Tom was the Chief Financial Officer of GCi, a software-as-a-service business providing order processing to cable and phone companies. Previously, Tom was a Director of Market Strategy for Motorola's Wireline business where he was responsible for business strategy, new market development, strategic partnerships and acquisitions. Prior to Motorola, Tom performed similar roles as Director of Business Development for Quantum Bridge, a venture-backed provider of fiber-to-the-home systems acquired by Motorola. Prior to Quantum Bridge, Tom held a variety of positions in direct investment and strategy, including three years at Salomon Brothers in New York and Hong Kong. For extracurricular activities, Tom enjoys teaching business. He has taught Pricing Strategies at the McCallum Graduate School of Business at Bentley College and has taught high school entrepreneurship classes through the National Foundation for Teaching Entrepreneurship. Tom holds a MBA with Honors in Finance and Accounting from the University of Chicago and a BA in Political Science from Brown University.

• Controlling Benefit Costs:  Rob DiMase, EVP & President, Sentinal Insurance Agency
  Rob DiMase is the Executive Vice President of Sentinel Financial Group and President of Sentinel Insurance Agency, Inc. As a 17 year industry veteran, Rob specializes in the design, implementation, communication and administration of all types of employee benefits plans. Rob began his career as an account executive with Great West Life Assurance and Annuity Company where he was responsible for marketing fully insured and self-funded Health, Dental, Vision, Life and Disability insurance; Flexible Spending Account programs and 401(k) plans. He joined Sentinel Financial Group as a sales representative in 1993. In 1998 he became a partner in the organization. Rob holds a Bachelor of Science degree in Finance and a concentration in Marketing from Boston College. He is a Board member of the Massachusetts Association of Health Underwriters and an active member on Blue Cross Blue Shield of Massachusetts and Harvard Pilgrim broker advisory boards. Rob holds FINRA series 6, 63 and 65 securities licenses. He is also a licensed Life & Health insurance agent.

• Alternatives to RIF’s:  Greg Gould, CFO & Treasurer, Seracare Life Sciences
  Gregory A. Gould has been the Chief Financial Officer and Treasurer of SeraCare Life Sciences, Inc. since August 2006 and the Secretary of the Company since November 2006. From August 2005 to August 2006, Mr. Gould provided financial and accounting consulting services through his consulting company, Gould LLC. From April 2005 to August 2005, Mr. Gould served as the Chief Financial Officer and Senior Vice President of Integrated BioPharma, Inc., a life sciences company serving the pharmaceutical, biotechnology and nutraceutical markets. Prior to that, from February 2004 through January 2005, Mr. Gould served as the Chief Financial Officer, Treasurer and Secretary of Atrix Laboratories, Inc., an emerging specialty pharmaceutical company focused on advanced drug delivery. From 1996 through October 2003, Mr. Gould served as Director of Finance and then as the Chief Financial Officer and Treasurer of Colorado MEDtech, a high tech software development, product design and manufacturing company. Mr. Gould is a director of CytoDyn, Inc. Mr. Gould holds a B.S. in Business Administration from the University of Colorado, Boulder and is a Certified Public Accountant in the State of Colorado.

Program Level:  Advanced

Recommended CPE:  2.4

Program Prerequisites:  None

Advanced Preparation:  None

Delivery Method:  Group- Live

Registration:  To register, you need only to go to the accompanying link and follow the instructions on the webpage.

The CFO RoundTable is registered with the National Association of State Boards-of-Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417.  Website:  www.nasba.org

Refunds and Complaints:

For information regarding refund, complaint, or program cancellation, please email Jack McCullough at jack@thecforoundtable.com