Patty Royal, MBA

People-oriented financial executive with a proven history of problem-solving and innovative, big-picture, strategic solutions.

Patty can fill an interim position while you conduct a CFO/Controller search. She can manage projects, create education/training materials, facilitate change, or any combination of the above.

Because she grew up in a family business and ran her own for a couple of years, she understands the challenges business owners and leadership face. Skilled at analyzing your big picture (or helping you define it.) She can help you translate it into actions that keep processes running and information flowing. Together we will prioritize those actions and develop education and training materials as we implement solutions. Keeping your goals in mind, we work with you to build and improve your corporate infrastructure.

Building infrastructure requires a team approach. Patty has successfully collaborated not only with accounting/finance teams but also with cross-functional departments (leadership, sales, manufacturing, legal, compliance, information technology, talent) and external parties (shareholders, auditors, compliance organizations.)

Help Business Succeed

Migrate financial teams from getting the number in the box to providing analysis and communicating it in understandable terms.
Provide financial education and training, even to non-accountants. This is especially helpful for leadership teams.
Develop the finance team.
Create training manuals.
Develop and document procedures.
Streamline and shorten the month close process.
Develop & implement budget and forecasting processes.
Develop & implement cash management and forecasting processes.
Work with cross-functional teams to resolve process bottlenecks.
Develop & implement scalable processes for future growth and expansion.
Map and improve processes, drawing input from all concerned parties.
Project manage ERP implementations.
Develop & implement cost accounting systems.
Build/improve financial infrastructure.
Interim CFO and controller services.

Professional Certification

Licensed Florida CPA

Industry Experience

Manufacturing
Distribution
Retail
Service
Digital Magazine
Not-For-Profit
Global CPA Firm

Education

B.A. magna cum laude
M.B.A with honors
One year of doctoral study

AREAS OF EXPERTISE

Budgets
Cash Management & Forecasting
Corporate Reorganization
Cost Accounting
Education & Training
ERP Implementation

Financial Operations
Forecasting
FP&A
Inventory
Month Close
Process Documentation

Process Improvement
Process Mapping
Product Costing
Strategic Planning
Written Communication

practical Experience, Impactful solutions

Timely Information

Lengthy month close process inhibited timely decision-making

This is a common problem. By changing the utilization of current software and close processes, reduced close time by over 50%.

Budget Process

Absence of an effective budget process hindered corporate goal setting.

After getting the full leadership team on board, developed a budget process plan, conducted training, and implemented the process.

Cash Management

Absence of cash management policies led to cash shortages.

After analyzing cash cycle and requirements, created an actionable cash forecast process and related management reports.

Physical Inventory

Large inventory adjustments negatively impacted financials and order fulfillment.

Created and implemented GAAP compliant processes and procedures, reducing inventory adjustments, production delays, and stock outs.

Corporate Merger

Acquired products were tracked on an incompatible system with differing costing methods.

Created bills of material and standard costs to migrate new products to the acquirer’s ERP software.

Financial Analysis & Interpretation

When finance teams focus on reporting instead of analysis, leadership lacks key information.

Used a combination of education, training, team development, and efficient information flow to reduce reporting time. Then, worked with the finance team to develop effective analysis, communication, and reporting skills.

Cross-Functional Tension

Other teams perceived finance as the prevention department.

Listened to concerns and facilitated resolutions by creating a team approach that resulted in improved communication and workflow.

Insurance

Failure to understand key risks exposed organization to large losses.

Worked with leadership and the insurance broker to evaluate and overhaul both insurance and organizational policies to reduce exposure.

ERP Implementation

Manual operations created and obscured costly inefficiencies.

After analyzing cross-functional operations and cataloging requirements, built the ERP implementation team and led the project through to successful implementation.

Financial Communication

Leadership committed to contracts they did not fully understand.

Translated technical terminology into plain language and developed related education/training materials. This provided leaders with the tools they needed to make informed decisions.

Roles Served

SPANNING 30+ YEARS

IN A VARIETY OF ORGANIZATIONS INCLUDING FORTUNE 500, PUBLICLY TRADED, PRIVATELY HELD, NOT-FOR-PROFIT, AND GLOBAL CPA ORGANIZATIONS. SENIOR ROLES INCLUDE:

President & Owner
CFO
Senior Financial Director
Controller
Cost Accounting Manager

Patty approaches projects with a big picture perspective and an educator’s heart. She loves working with Accounting/ Finance teams and other departments on process improvements, efficiencies, realignments, and strategic & supportive business analysis. Her goals are to simplify your life, fill a business need, and add value with optimized business strategies, processes, and procedures.

CFO Partner