David G. Mayo, CPA, CGMA

Part-time CFO Dave Mayo

Dave Mayo

Dave is a CPA and a CGMA with over 30 years of diversified senior financial management experience. What makes Dave’s background unique is that he has experience in both small and large companies; private and publicly-held. Dave has been the Chief Financial Officer of closely held companies with revenues under $30 million; he has also been the Division Controller of divisions with revenues as high as $120 million.Dave’s experience includes two successful turn-around situations as well as the survival of a company in the new construction housing industry during the housing depression of 2007 to 2009. The elements of a successful turn-around are also the elements of running a business well. We all know that for the small to mid-size business cash is critical. Dave likes the saying “cash is the lubricant of business, without it business will grind to a halt”. Dave has found in his experience that it is not a company’s accounting that is lacking; it is the accounting function’s inability to present business information to the key managers in a way that is understandable to make good business decisions. Dave’s forte is his ability to take financial information and clearly present the operating decisions that need to be made.

It is critical to be the low cost provider in your industry through efficient operations, minimal operating expenses, and optimal utilization of working capital. Does your company need to improve in any of these areas? Because of your company’s constant pursuit of increased profitability, you may be interested in the services of CFO 4 Small Biz™.

Dave is a proven problem solver who feels equally comfortable working “hands-on” with the staff or strategically with the owners. He is respected for his superb business skills, insight, objectivity, honesty and integrity. His experience as a CFO extends to nearly every aspect of a business’s financial needs including:

  • Cash Forecasting & Management
  • Working Capital Management
  • Management Reporting
  • Financial Reporting
  • Budgeting & Forecasting
  • Strategic Business Planning
  • Growth Strategies
  • Business Financing
  • Cost Accounting & Operations
  • Internal Controls & Audit Management
  • IT Management
  • Software (Including ERP) Implementation
  • Quickbook Certified ProAdvisor
  • Risk Management
  • Employee benefit plans
  • Staff development

Dave’s accomplishments include:

  • The successful turn-around of a $25 million publicly-held manufacturing plant from losing in excess of $2 million to generating operating profit of $1 million annually;
  • The successful turn-around of a $5 million privately-held manufacturer ultimately resulting in the sale of the company;
  • Negotiated the sale of a start-up division as part of the successful turn-around of a small company;
  • Improved small company capitalization through a subordinated vendor note program resulting in reduction of total payables by 55%;
  • Improved risk management resulting in reduced health care and workers’ comp premiums;
  • Negotiated banking agreements with favorable terms for the company;
  • Improved cash management by implementing weekly cash forecasting;
  • Championed three successful computer ERP implementations.

Dave has experience as the CFO of many different privately held companies with revenues ranging from $5 million to $25 million. He also has Division Controller experience with division revenues from $50 million to $120 million, with operations in Singapore, Taiwan, and China. He has been the CFO of a privately held manufacturer owned by an entrepreneur and a venture capital fund. Previously, as the Vice President-Controller of a capital equipment manufacturer with operations in the US and Europe, Dave has been responsible for all financial aspects of a publicly held company.

Dave earned a B.A. degree in Economics & Business from Saint Anselm’s College and a Masters of Accountancy from Bowling Green State University and began his career with Price Waterhouse & Co. Dave holds a current Certified Public Accountant license in the state of Illinois.