YAMATO USA’s New CFO Sees Strategic, Collaborative Future
11.10.2020 | Category, Blog
After working more than 20 years at YAMATO USA, Paul Wong recently was named Chief Financial Officer for the entire US operation. He has seen many changes recently, especially in the role the finance department plays in the overall function of YAMATO.
“For a long time, the department was in the back of the house, serving as a scorekeeper, churning out financial reports,” says Wong. “Our role has changed significantly where our finance department is now part of everything. We’re more collaborative and more strategic, supporting individual divisions while also providing holistic financial insight to support the whole company.” According to Wong, YAMATO USA revenues now exceed $120 million annually.
Wong says his role as CFO is to make sure YAMATO USA’s executive management teams have detailed business plans going forward. “Everything we do must be grounded in solid financial planning,” says Wong, who emphasized further that YAMATO is in the enviable position of having no debt – quite outstanding for a company in an industry known for razor thin profit margins. “Me and my team work closely with all departments to optimize operations, while making sure we consistently generate positive cash flow. Of course, we’re always looking for ways to grow and expand our business through forwarding thinking business development investments while also streamlining work processes to keep costs and prices down for our customers.”
Currently, Wong sees opportunity for expansion around the entire US. “We want to refocus and diversify,” he says, “for example, there are developing ecommerce corridors in and around the Rocky Mountain region like in Utah and Colorado, cross-border opportunities in Southern Texas, European shipping lanes to penetrate from the entire Atlantic coast, growing markets for more perishables and consumer goods out of the Pacific Northwest and a stable auto industry in the Midwest that keeps growing. My job is to make sure we are financially prepared for a coordinated and well-planned expansion.”