Darren McDermott

My Revenue Operation team covers the EMEA region, overseeing the Quote-to-Cash (QTC) process for the region. Partnering with all teams involved in structuring customer contracts (Sales|Legal|Accounting|Pricing & Packaging|Customer Success and others) and through the QTC process.

Deal Structure

• Provide guidance on Legal/Accounting matters related to contracts or intellectual property rights. Ensuring compliance with internal company policies and external Revenue Recognition requirements (ASC 606).
• Attend forecast calls and conduct regular meetings with department heads to review progress on upcoming deals.

Contract Review/Compliance

• Develop policies and procedures to ensure compliance with corporate standards and requirements.
• Review orders for required approvals from my team to ensure compliance with company policies and accounting requirements

Build Team

• Recruit, train, supervise, evaluate and mentor staff members.
• Ensure high standards are maintained through continuous feedback/training.
• Encourage collaboration with external teams to build relationships and ensure smoother processes.

Training

• Of new hires in internal team
• Of all stakeholders form external teams involved in the OTC process
• Ensure regular communication of issues, changes or new processes to follow

Process improvements

Attend Quarterly-based Reviews (QBRs)

• Conduct regular meetings with department heads to review progress or areas for improvement.
• Identified opportunities for improvement in operational performance.
• Use of technology to increase automation to improve speed of approvals/signing, including leveraging new software packages|Internal technology expertise|AI.

Analytics

• Regular reporting to analyse data for performance,
• Ensure SLAs are met,
• Monitor workload to ensure staffing levels are correct,
• Check for errors or areas for improvement.
• Feedback to the business on my organisation's performance.

• Lead EMEA region as point of contact for all Revenue Recognition related issues
• Partnered with Sales, Sales Operations and Legal during contract negotiations and provided suggestions and assistance in order to ensure proper revenue recognition of all our contracts
• Built and maintained effective relationships with key business partners
• Reviewed revenue related contracts for compliance with revenue recognition guidelines, SAB 104, EITF 08-1 and determined appropriate accounting treatment
• Worked closely with business partners to streamline processes and improved efficiency utilizing the Workday solution
• Provided training to Sales/Legal/Dealdesk on Revenue Recognition and advised issues/potential issues that may be encountered
• Maintained documentation for all review and compliance work completed
• Prepared VSOE and BESP analysis
• Prepared revenue and deferred revenue schedules
• Monthly, quarterly and annual analysis of all Revenue and Deferred Revenue for Workday Ltd. entity
• Lead and assisted with other special projects as needed; drove projects to successful completion
• Liaised with Internal and External Auditors for quarterly and annual audits (including local audit requirements)
• Key member of the worldwide revenue close process
• Worked closely with corporate Revenue team to ensure consistency of Revenue Recognition policies company-wide
• ASC 606 Implementation – Project to assess Accounting for Contracts under new revenue standard. Implemented new process and reviewed contracts under the new stnadrad going forward.

• Key role in enforcing and supporting processes that meet revenue recognition criteria and ensure compliance with US GAAP and Sarbanes-Oxley requirements
• Review of revenue contracts and prepare revenue summaries for key revenue transactions
• Ensuring Revenue is recorded and reconciled accurately, in accordance with best industry practices and guidelines, within the financial system
• Advising other depts (Sales, Legal, OP, Finance), during deal structuring, regarding revenue recognition issues to ensure proper compliance and best practices
• Monthly, quarterly and annual analysis of all Revenue and Deferred Revenue for EMEA & APAC
• Liasing with Auditors for quarterly and annual audits
• Supervision and development of Revenue Analysts within the EMEA Revenue team
• Training of other depts (Sales, Legal, OP, Finance) on key aspects and expectations of Revenue Recognition criteria
• Work closely with corporate Revenue team to ensure consistency of Revenue Recognition policies company-wide
• Process improvements and ensuring compliance with SOX processes.

• Analysis of specific cost accounts on a monthly basis, and review against budget
• Liaising with Department heads to ensure all costs for their area are accurately recorded on a monthly basis
• Working closely with Financial Controllers and with Heads of Department to deliver the required information to run their business units
• Marketing cost analysis and monthly review, liaising with the marketing team to ensure that their costs are correctly accounted for, and reported by project
• Calculation of accruals and prepayments in cost accounts on a monthly basis
• Issuing cost reports to business unit heads and dealing with their queries on a monthly basis
• Reconciliation of balance sheet accounts on a monthly basis
• Hedging payments, manage process
• Ensuring costs are accounted for accurately and according to set deadlines.

• Communication with Sales Operations and Sales with collection of financial data during budgeting process
• Analysis of sales including year on year and quarter on quarter trends
• Consultation with Sales Operations and Marketing departments to calculate and book accruals for marketing incentive programs
• Review and booking of contracts ensuring compliance with US GAAP and Software revenue recognition requirements
• Maintaining accurate financials for SOX compliance
• Assisting Internal Auditors with SOX processes and External Auditors with year end review
• Preparing monthly billing and revenue journals
• Preparing accounting reports under US GAAP compliance
• Completion of balance sheet reconciliations
• Quarterly and annual analysis of financials and sales trends.

• Ensuring accurate accounting and reporting of revenue both monthly and quarterly through running and reconciling company’s automated revenue tools
• Responsible for Contract Review to ensure accurate revenue recognition in accordance with Software Revenue Recognition guidelines and Company and U.S
• GAAP requirements
• Supporting sales, legal and order services departments to advise on revenue recognition implications of proposed actions during contract negotiations, also ensuring large orders are booked correctly to ensure appropriate revenue accounting treatment
• Monthly, quarterly and annual close processes, reconciliation of balance sheet accounts, analysis and reporting of quarterly revenue and deferred revenue
• Quarterly presentation of contract reviews and deferred revenue accounts to external auditors, to aid their full understanding of our processes and procedures
• Documenting, testing and walkthroughs of internal SOX controls.

• TMP Worldwide - Bank Account Controller
• Tech Pacific - Rebate Analyst
• NYK Line - Accounts Receivable
• Orange Hutchison Telecom - Accounts Payable

• Account manager for Smart Response, the Direct Marketing division of the company
• Developing Direct Marketing solutions for FMCG companies, Govt Agencies, TV/Radio Stations, Newspapers etc
• Analysis and presentation of campaign results to clients.

• Joined as a Management Trainee as part of ERAC’s Management Training Program promoted to Assistant Manager
• Account Management, Business Development, Customer Service, Sales, Marketing and Employee Training and Development.

Consolidated Pumps

Accounts Clerk: Accounts Payable and Receivable, collections, reconciliations, cheque runs and payroll.

Marketing Assistant: Sales/promotion: Direct marketing, telesales, advertising, product demonstrations, e-marketing (via e-mail and the construction of a website).

Forbairt – Finance Dept. – Asset Management

Guinness Ireland – Marketing Research Dept.