Terry has over 30 years of financial and operational management experience focusing on small to medium size privately held companies. He has a diversified background in advising businesses across a broad range of industries. He focuses on profit improvement, increasing cash flow, business transition planning, growth strategies and operational efficiency. .. SEE MORE
A native of Idaho, Terry earned his Bachelor of Science degree from Boise State University. After graduation, he moved to West Texas and began his career in the audit department of the firm now known as KPMG, LLC. His clients were primarily in the oil and gas industry including exploration, development, production, distribution and retail sales. He returned to Idaho and joined Coopers & Lybrand (now PriceWaterhouseCoopers, LLC.). There, he continued his audit career managing engagements in the banking, agriculture, manufacturing, and not-for-profit industries.
After leaving public accounting, Terry became the Controller, and later the CFO, for a medium sized manufacturing organization. During his tenure, the company diversified both horizontally and vertically increasing sales 500% while achieving profitability every year. While managing all aspects of accounting, treasury, technology and operations, Terry achieved the following accomplishments:
-Grew the company from a regional wholesale manufacturing entity with a narrow product line to a more diverse company with wholesale, retail and Internet distribution channels throughout North America.
-Acquired and integrated a manufacturing and distribution business, which served a new market.
-Started a manufacturing subsidiary that vertically integrated products with the core business plus provided value added products to existing and new customers.
-Streamlined the billing process to speed up invoicing customers, which increased cash flow enough to eliminate the need for an operating line of credit.
-Implemented a shop floor information system that provides real time information on production flow and inventory consumption. Armed with this information, the company was able to reduce labor costs by 11% and increase inventory turns 36%.
-Advised shareholders on successful exit strategy and transitioned company from private ownership to being a subsidiary of a publicly held corporation, which involved integration of a computer system, implementation of Sarbanes-Oxley, additional reporting requirements, and changeover of employee benefit plans.
Terry's extensive background and experience have given him the skills to assist in many different aspects of a business's financial needs. He has helped companies manage growth, forecast cash flow, increase margins, reduce employee benefit costs without compromising key components, improve their banking relationship, and obtain favorable pricing and terms from vendors. Additional areas of expertise include:
-Strategic and long-term planning
-Tax planning and projections
-Budgeting and forecasting
-Staff training and development
-Accurate and timely financial reporting - management and external
-Efficient month-end closing procedures to ensure timely reporting
-Financial restructuring and downsizing
-Banking relationships and agreements
-Human resource initiatives including benefits, performance measurements, incentive compensation plans and succession planning
Terry lives in Meridian, Idaho where he has been active in his community. He served as president of Meridian Little League Baseball for two years sending an all-star team to the regional tournament in San Bernardino as the Idaho state champions. He has also served in several capacities for his church, most recently as the Chairman of the Finance Committee. He and his wife, Barbara, have been married 35 years and have two adult sons.
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