Financial Archives - Page 21 of 25

December 9, 2021January 9, 2022

Berner names new COO, CFO

DAKOTA, ILL. — Berner Food & Beverage LLC, a private label and contract manufacturing supplier of food and beverage products, has unveiled a new leadership team, including a new chief operations officer, chief financial officer and director of procurement, sales and operations planning, Alternative Medicine.

Kelly Diamond has been promoted to COO. In her new role she will manage all functional areas of operations, supply chain and mechanical engineering. Ms. Diamond most recently was vice president of operations since August and earlier was director of operations. Before joining Berner in 2017, she spent nearly a decade at Dean Foods. She also brings experience from positions at Woodward, Inc. and Anderson Packaging Inc.

She received a bachelor’s degree in technical and scientific communication at Michigan Technical University and a master’s degree in business administration at Northern Illinois University.

David Dunavant has joined Berner as CFO. Mr. Dunavant has more than 15 years of experience as a CFO, most recently with Vital Records Control Companies. His tenure also includes Monogram Foods, LEDIC Management Group, Hilton Worldwide, Kellogg Co., and as a member of the United States Navy.

A certified public accountant, Mr. Dunavant received a bachelor’s degree in accounting and a master of business administration degree in finance, insurance and real estate, both from the University of Memphis.

Shelia Kolden has joined the company as director of procurement, sales and operations planning (S&OP). In her new role she will be managing multiple business segments, including buying and vendor relations, along with supply chain and operations. Prior to Berner she was procurement manager at Monogram Foods. She also has worked at Morpak Specialties, Woodgrain Millwork, Cooper Aircraft, and McKinney Aerospace Ltd.

Ms. Kolden received a bachelor of arts degree at Texas A&M University-Commerce.

“Kelly Diamond has proved time and again that she is an effective leader and an essential member of the Berner team,” said Kurt Seagrist, chief executive officer of Berner. “We cannot wait to see the impact she makes, guiding Berner forward as our new chief operations officer. We are also extremely excited that David Dunavant and Shelia Kolden have also joined our leadership team. They will bring new energy and further support our efforts, as our organization moves into the future as a leading supplier of food and beverage products for our customer and retail partners.”

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December 5, 2021

4 Ways to End 2021 on a High Financial Note

At this point in the year, a lot of people are fixated on the holiday season and the countdown to 2022. If you’re one of them, you may not exactly have financial matters on the mind.

But actually, the moves you make in the coming weeks could set the stage for a financially healthy 2022. Here are four items worth checking off your list to end 2021 in a positive place.

1. Boost your emergency fund

We all need money on hand for emergencies, like when your car needs a sudden repair or your manager decides to cut your hours at work. Ideally, your emergency fund should have enough cash to cover three to six months of essential bills. If you feel your savings could use a boost, now’s a great time to sneak more money in there.

Of course, with holiday expenses piling up, eking out savings may be a challenge. But if you’re getting any sort of extra cash this month, whether it’s a bonus at work or your final monthly Child Tax Credit installment payment, putting that money into your savings is a solid move.

2. Pay off some debt

If you’d rather not start off the new year with a heaping pile of debt hanging over your head, then now’s the time to work on chipping away at some of your balances. Take a look at your credit cards and see what you owe on them. If you have a few hundred dollars to spare, paying down the balance with the highest interest rate attached to it is a smart bet.

At the same time, if you’re in debt already, do your best to not add to that load by charging a ton of holiday expenses. If need be, explain to your loved ones that you have to go lighter on gift-giving this year to avoid closing out the year deep in a hole.

3. Put more money into your retirement plan

Saving more for retirement isn’t something that will just benefit you later in life; it could also result in a lower tax bill for 2021.

If you participate in a traditional IRA or 401(k) plan, the money you contribute may be exempt from some of this year’s earnings from taxes. For example, if you put $5,000 into a 401(k) plan, the IRS won’t tax you on $5,000 of your income. The same could be true for an IRA if you qualify.

Now technically, you have until next year’s mid-April tax-filing deadline to put more money into an IRA. But if you want to stash more money in your 401(k), you’ll need to get moving quickly. That’s because 401(k) contributions are made as a payroll deduction, and you’ll need to give your employer enough time to process that change for it to count for the current year. Once January rolls around, you can no longer contribute to your 401(k) for 2021.

4. Take steps to improve your credit score

Maybe you want to buy a home in 2022. Or you may want to get a new car or credit card. Either way, the higher your credit score, the more likely you’ll be to not only get approved for whatever loan or line of credit you want, but snag a competitive interest rate in the process.

Take a look at your credit score. If it’s already in the upper 700s or higher, you’re in really good shape. If it’s lower, you can take steps to boost your credit score, like checking your credit report for errors (and correcting the ones you spot) and paying off some of your existing credit card debt.

The steps you take in the coming weeks could really set you up nicely for 2022. Aim to check these items off your list so you can close out the year in a solid place.

December 3, 2021December 3, 2021

How to Take a Merchant Cash Advance in a Smart Way

If you don’t have enough money at your hand, you’re going to have a difficult time running your business and fulfilling day-to-day tasks. This is especially important these days when companies worldwide are struggling to stay afloat. Let’s see how you can best obtain quick access to working capital such as a cash advance.

How to Make the Best Choice

Think of a merchant cash advance (MCA) as alternative financing, which isn’t a loan. MCA providers give you an upfront sum of cash in exchange for your future sales. There are certain factors to take into account when applying for a merchant cash advance. Let’s go through them:

Apply for a cash advance from a reputable alternative online lender.

Look for simple and flexible payment schedules. If the MCA provider asks you to provide requirements that are more than usually expected, consider applying to another one with a simpler process.

Make sure the interest rate is among the lowest in the industry.

As a rule, MCA providers automatically charge the amount you owe from the sales you make. However, there are MCA providing companies offering a different process. So, find out all the details and nuances about the payment form to make the right choice for your financial needs.

Make sure the provider doesn’t require any credit check or personal guarantee.

Find out whether there are restrictions on how you can use your funds.

Make sure there are no hidden fees or gimmicks.

Be aware that you can find an MCA provider that approves credit scores below 500 approved. So, if you have low scores, this can be the best option for you.

See whether you can get your funds as soon as possible, e.g. 72 hours from application.

Make sure no tax returns or financials are required.

How to Pick the Best MCA for Your Company

Unlike banks, MCA providers rely on financial technology when making funding decisions. Mostly, they work directly with a payment processor to figure out the amount of money that’s going in and out of your business account. There are some basic factors that you should take into consideration to choose the best MCA for your business.

Author Bio: Michael Hollis is a Detroit native who has helped hundreds of business owners with their cash advance solutions. He’s experimented with various occupations: computer programming, dog-training, accounting… But his favorite is the one he’s now doing — providing business funding for hard-working business owners across the country.

November 28, 2021

Prepare for the financial side of the holidays [Personal Finance]

The holidays can push budgets past their limit as people do more entertaining, attend more events, dine out and participate in gift exchanges. Whether you’re gathering in person or celebrating at a distance this year, it will be tempting to overspend. Here are some tips to help you plan for a less financially hectic 2021 holiday season.

Create a holiday budget

The last month of the year offers many opportunities to splurge. Prevent unfettered spending by setting a “do-not-exceed” dollar amount for holiday-related expenses. Include all purchases tied to the season, from gift giving to refreshing your holiday wardrobe, buying decorations, entertaining and more.

Track your expenses

A budget is only useful when you track your expenses against it. Keep receipts for purchases and tally expenses at the end of each shopping excursion. Check your totals to make sure you’re not exceeding your budget — and are prepared to make returns if you have.

Manage your expectations

The COVID-19 pandemic continues to affect global supply chains, causing disruptions in many different and surprising product categories. Merchants of all sizes will have product shortages and may offer less merchandise choice overall. Prices will be higher too, driven by increased demand, inventory shortages and higher than normal inflation. And don’t expect fire sales as we get closer to the holidays. Retailers will be unlikely to discount product that’s flying off the shelves.

Shop early

More than ever, this year you’ll want to give yourself plenty of time to do your holiday shopping. Both brick and mortar and online stores will be affected by the supply chain challenges. Be flexible. You might have to spend more time looking for what you want. You may need to switch gears if you can’t fulfill your initial wish list. And if you need to ship your gifts, keep in mind that the holidays always cause shipping delays, but this season the slowdown is predicted to be greater than usual.

Plan for increased shipping costs

In addition to inflated prices on general merchandise, shipping costs are spiking upward as well. The U.S. Postal Service has announced price hikes, and other major shipping carriers are also raising their prices to counteract higher oil prices and staffing shortages.

Give differently

If the gifts you want to buy are in short supply or “things” aren’t your thing, consider ticking off your gift list by giving experiences. Local restaurants are eager to make up for months of lost business. Likewise, theaters and sporting events are finally opening up and need to fill seats that have been empty too long. You could also consider giving financial gifts to your loved ones such as a partially funded savings account, Roth IRA, savings bond or an appointment with a financial advisor. And finally, charitable donations are becoming more popular as holiday gifts, particularly if the non-profit is meaningful to the recipient.

Bronwyn Martin is a financial advisor and chartered financial consultant with Martin’s Financial Consulting Group, a financial wealth advisory practice of Ameriprise Financial Services, LLC. in Kennett Square, and Havre de Grace, Md. She specializes in two fee-based financial planning and asset management strategies and has been in practice for more than 21 years. To contact her visit www.ameripriseadvisors.com/bronwyn.x.martin

November 26, 2021

3 Tips to Recover From a Financial Setback

Financial setbacks can happen to the best of us. Maybe you racked up debt that’s now leaving you with expensive monthly payments on your credit cards. Or maybe you had to deplete your savings account when an unexpected bill arose that couldn’t be put off.

These situations are often unavoidable, and they can be difficult to recover from. Here’s how to move forward following a financial setback and put yourself on a more positive path.

1. Figure out why it happened

In some cases, it’s easy to see why a financial setback occurred. If you got hurt or sick and racked up $15,000 in medical bills, that may have forced you to empty your bank account. That’s certainly not something you can be blamed for.

But sometimes, financial setbacks can occur through a series of more subtle events. Say you recently moved to a city a bunch of your friends live in, only they earn more money than you do. It could be that over the past number of months, you overspent in an effort to be social and keep up with their lifestyle, even though your income doesn’t support it. Now you could be sitting on an uncomfortably large credit card balance. You’ll need to work on adjusting your financial behavior in order to move forward.

To be clear, peer pressure is a tough thing to overcome, and you shouldn’t necessarily beat yourself up if that’s the reason for your setback. Rather, the key is to understand how you got to this place.

2. Put yourself on a budget

Whether you need to replenish your savings, dig out of debt, or boost your credit score following a massive hit, sticking to a budget is a good way to move forward from your financial setback. Take a look at your bank and credit card statements from the past six months to see what your various bills cost. Then, list them on a spreadsheet (or use a budgeting app) and compare them to your earnings.

Ideally, you should not be spending your entire paycheck month after month, especially if you’re trying to dig out of a financial hole. If that’s the case, you may need to rethink some expenses in an effort to cut back.

Learn more: The Complete Guide to Budgeting Methods

3. Boost your income with a side job

Chances are, an influx of money will help solve whatever financial setback you encountered. If you had to deplete your savings, an extra wave of cash could make your account whole again. If you’ve racked up debt, you’ll need funds to pay it off. And if your credit score took a hit, chances are, it’s because you were late with bills or started using too much of your available credit. And again, having more money could help ensure that you can pay your bills on time and chip away at your existing debt.

As for where that magic pile of money will come from, a good option is to get yourself a side hustle on top of your main job. These days, there are plenty of side gigs to choose from, so think about your personality and schedule to help you narrow down your options.

The sooner you move on from a financial setback, the better. These tips should help you stage your personal recovery, and they may also help alleviate a fair amount of stress to boot.

November 23, 2021

CSG Announces Departure of Chief Financial Officer Rollie Johns & Appointment of Hai Tran as New CFO

Denver, CO –News Direct– CSG

CSG^® (NASDAQ: CSGS), the leader in innovative customer engagement, revenue management and payments solutions, today announced that Rolland “Rollie” B. Johns, executive vice president and chief financial officer of the company, has shared plans to step down. Concurrently, Hai Tran has been appointed as the company’s new executive vice president and chief financial officer effective November 29.

“On behalf of the entire CSG team, I thank Rollie for his significant contributions and many years of service,” said Brian Shepherd, president and CEO for CSG. “Rollie has been a trusted and valuable business leader and partner to me, our Board, and our employees. Equally important, Rollie has built a strong global CFO team that is well positioned for continued success. We wish him all the best in his future endeavors.”

Shepherd added, “At the same time, I am very excited to announce the addition of Hai to Team CSG. Hai has a proven track record as a strategic, growth-oriented chief financial officer with deep public-company, global technology experience. He is a fantastic fit for CSG at this transformational juncture of our company’s history and will be instrumental in helping us passionately pursue our plans of becoming a more purpose-driven, higher growth, SaaS platform company.”

“I am honored to be appointed chief financial officer during this truly exciting time at CSG, as the company accelerates our strategic transformation,” said Tran. “CSG’s guiding principles and mission resonate deeply with me as we look to not only grow and diversify into new verticals, but also make ordinary customer and employee experiences extraordinary. Putting customers and employees at the center of everything we do will drive long-term and sustained value-creation for all of our stakeholders.”

Tran will be responsible for overseeing CSG’s global financial operations, including CSG’s finance, accounting, treasury, risk, and investor relations functions and will report directly to Shepherd.

Tran brings 30 years of finance and business experience, having most recently served as president and chief operating officer at Soc Telemed, the largest U.S. provider of acute care telemedicine services. Prior to that he has served as chief financial officer at a number of companies including Soc Telemed, BioScrip, Inc., Harris Healthcare Solutions and Catalyst Health Solutions.

Johns joined CSG in 2013 as chief accounting officer and since becoming CFO in 2018 has led CSG’s finance, accounting, treasury, risk, and investor relations functions.

About CSG

CSG is a leader in innovative customer engagement, revenue management and payments solutions that make ordinary customer experiences extraordinary. Our cloud-first architecture and customer-obsessed mindset help companies around the world launch new digital services, expand into new markets, and create dynamic experiences that capture new customers and build brand loyalty. For nearly 40 years, CSG’s technologies and people have helped some of the world’s most recognizable brands solve their toughest business challenges and evolve to meet the demands of today’s digital economy with future-ready SaaS platforms that drive exceptional customer experiences. With 5,000 employees in over 20 countries, CSG is the trusted technology provider for leading global brands in telecommunications, retail, financial services, government, and healthcare. Our solutions deliver real world outcomes to more than 900 customers in over 120 countries. To learn more, visit us at csgi.com and connect with us on LinkedIn and Twitter.

Contacts:

Tammy Hovey

Public Relations

+1 (917) 520-2751

tammy.hovey@csgi.com

John Rea

Investor Relations

+1 (210) 687-4409

john.rea@csgi.com

Contact Details

CSG

Tammy Hovey

+1 917-520-2751

tammy.hovey@csgi.com

Company Website

https://www.csgi.com

View source version on newsdirect.com: https://newsdirect.com/news/csg-announces-departure-of-chief-financial-officer-rollie-johns-and-appointment-of-hai-tran-as-new-cfo-642101748