CFO Wisdom

Ann C. Diddlebock

ABOUT ME

Ann Diddlebock, FT/Fractional CFO and Senior Financial Executive – SMB focus. With years of experience and expertise in diverse industries, I partner with teams to strategically build financial growth infrastructures and develop staff.

Industry experience include:

Retail
Commercial construction
Commercial real estate development
ATM placement and electronic transaction processing
Cable television.

My Mission

To create a solid financial platform for companies, so talent, energy and creative bandwidth is not restricted by financial concerns, but used to disrupt ordinary business models, launch new initiatives within their company and industry. Always a strong focus on growing revenue, margin and bottom line.

MY SERVICES

Financial Transparency

Create format and manage production of monthly allocated financials (as high as 60)

Corporate Turnaround

Create and negotiate debt restructure plan with lenders

Compliance

Income tax compliance and preparation overview

Build Financial Platforms

Recruiting, Training and Developing Staff in Finance, IT Operations and HR

Advisor to Stakeholders

Advise owners on strategic impacts of issues and/or business decisions

MY EXPERIENCE

4/2020 – Present

Warm Springs Holdings, LLC

Chief Financial Officer

Previously SVP, Director of Finance

Holding company for Family Office investment entities. Emphasis on value-add multi-family real estate in CA/CO.

Brought financial reporting in-house for enhanced reporting and cost savings. Detailed reporting includes property budget-to-actual P&Ls highlighting EBD, NOI targets, margin analysis and same property YOY analysis
Developed a weekly Cash Flow report and a Cash Requirement report for credit line projections
Developed a 1031 exchange tool for purchase/sale analysis
Supervise construction loan draws
Bank loan reporting compliance
Automated property management monthly reporting into QuickBooks
Navigated financial reporting through a business combination and equity restructure
Added an IT support layer
Supervise two accounting staff

4/2019 – 4/2020

CFO Wisdom

Founder

Fractional Financial Executive

12/2015 – 4/2019

Workplace ELEMENTS, LLC

Chief Financial Officer

Progressive furniture and architectural products company operating nationally. Revenue growth from $65M to projected $92M. Responsible for Accounting, Finance, HR, IT and Sales Coordination departments - supervised 24 employees with a total employee base of over 145.

Financial Transparency for Stakeholders

Implemented transparent, understandable reporting for Profit/Cost Centers in 27 monthly P&Ls
Hired a programmer to build GPM exception reports to reduce margin - margin increased 4% in one year
Tight collection controls reduced credit line pressures during a high growth period
Clarified/simplified equity distribution reporting reducing shareholder confusion

Corporate Compliance

Order entry controls accelerated revenue recognition - existing credit line serviced a backlog increase from $18M to $36M
Corporate contract compliance management system established for GSA, construction and sales contracts
Loan covenant oversight with special attention to distribution impact
Income tax alignment

Corporate Build

Negotiated a $3M credit line increase in response to growing backlog pressure of $42M
Negotiated a facility expansion loan
Advised owners on divestments and acquisitions - used CAPM methodology
AV/IT infrastructure redesign with concentration in cyber security and IT infrastructure reporting

2/2005 – 12/2015

Appliance Factory Outlet

Chief Financial Officer

Colorado based operation with 15 retail outlets, 450 employees and $86M in revenue. Retained as an independent consultant and promoted to CFO. Supervised staff of 17.

Corporate Turnaround

Reversed a negative equity position, tripled revenue and increased profitability 600% in 2 years
Created and negotiated debt restructure plan with lenders
- Reduced bad debt from $387K to $12K on a 4x AR base
- Established credibility in operations post debt write offs
Positioned financials for external audit – all accounts scrubbed to insure data integrity

Financial Transparency for Stakeholders

Managed production of 60+ monthly P&Ls monitoring margin, sales mix targets, profitability and budget/forecasting
Accounting/Finance Internal System upgrades and restructure
- Inventory controls reduced shrink 75 bps
- Hired a programmer to automate payroll processing in a complex commission/piecework pay environment - prompted by a headcount increase of 200
- Designed procedures to interface with existing POS system to address Full Cost Absorption, Inventory and Merchandising Funds issues
Implemented two changes in accounting methods to align with industry standards

Corporate Build

Management of treasury, insurance, deferred comp and equity compensation
Six real estate purchases/financing including a 338,000 s.f. warehouse facility
Lease negotiations and management
Lowest departmental corporate turnover rate in the company. Emphasis on employee cross-training and professional development. High departmental customer service rating
Trustee of Owner’s Intentionally Deficient Guarantor Trust (IGIT)

Cash Resources - Consultant

ATM sales, deployment and processing startup - 7 year build and sold to Efunds with subsequent acquisition of a prepaid cellular phone company.

United Artist Entertainment -Reconciliation Manager

Post-merger (Daniels/United Cable/United Artists) cash ledger Manager, sales tax compliance development

RACO Development Corp.-Controller

National real estate developer, office warehouse spec/build to suit, brokerage service

Saunders Construction, Inc.-Credit Manager/Payroll Administrator

General contractor for major building projects in Colorado

Financial Executives International – Colorado Chapter Member

Finance Committee Member - YMCA of Metropolitan Denver

MY BLOG

CONTACT ME

Email Me: Ann@cfowisdom.com