B2B CFO Partners, LLC
B2B CFO® Partner Bio
Wayne R. Lorgus
Wayne Lorgus has been helping businesses achieve success for over 20 years. His experiences as a CPA, controller, chief financial officer and business unit manager help him bring a comprehensive perspective to situations faced by his clients. He brings strengths in financial planning and analysis, cash flow management, financing growth, and improving internal controls and business processes .
His assignments have spanned industries as diverse as manufacturing, consumer products, food processing, private label, luxury goods, industrial products, wholesale/distribution, electric motors, automotive testing equipment, and professional services. He has worked with both turnaround and growth companies.
Wayne has an extensive background in developing and implementing financial controls as part of an operational and strategic approach to business improvement. Through timely preparation and analysis of financial, operational, and cash flow data, he has helped companies identify and improve their results, fix problems before they become a crisis, and develop the monthly and yearly routines to achieve their goals. Wayne helped guide a $17 million company to double their business in three years and develop a new channel of distribution, while increasing EBITDA from 1% to 8%. He helped turn a $50 million company from a $1 million loss to a 2% profit in one year. Under his guidance, a $25 million company was able to cut its costs by 10% in twelve months. He has managed the installation of ERP systems to provide better and faster information for management decisions, and designed and installed key performance indicator and financial modeling systems.
Wayne has helped companies make dramatic improvements in their cash flow. By improving credit and collection procedures and revamping inventory management, he helped a $28 million company reduce their DSO by 17% and improve their on-time payment percentage from 55% to over 90%, while increasing their inventory turnover by 12%. He has negotiated payment terms with vendors, and installed vendor performance monitoring systems. He has also managed a company through a Chapter 11 bankruptcy.
Wayne has developed business plans for venture financing and loan packages for bank financing. He has negotiated re-financings of existing term and working capital loans, and asset-based credit arrangements up to $25 million. He has also negotiated debtor-in-possession financing.
With an extensive background in assessing transaction processing systems and fraud prevention, Wayne has helped companies lower their costs while improving their internal controls. He has conducted training courses for accounting and auditing staffs, and has addressed industry conferences on the use of technology in business process improvement. He has developed and tested disaster recovery and contingency plans.
Wayne graduated from the College of William and Mary in Virginia, and earned a MBA from the Wharton School, University of Pennsylvania. He holds CPA certificates from New York and Pennsylvania.
