Location: Sewell, NJ
Industry: Professional services
Charles P. Donato
Years in role: 30
Years at company: 3
GROWTH CHAMPION: “During the past three years, the firm has been operating more efficiently because of the procedures I put into place,” says Charles P. Donato, CFO at Lauletta Birnbaum LLC. “The attorneys have been put on tight schedules to get their time in for billing. Partners and associates have specific requirements that must be met monthly — if not, there are penalties against incentives.” Donato’s department also has been able to decrease the turnaround time for any information or support needed by anyone in the firm.
FUN FACT: “[I have a] passion for making wine in my basement.”
STRONG RELATIONSHIP: Donato has worked closely with Lauletta Birnbaum’s managing partner to ensure the firm’s growth wouldn’t become a burden on its operation. “[We] meet every week to discuss cash flow [and] look at our self-mandated minimum cash requirements,” says Donato. “We also review the financials quarterly to ensure the partners’ tax liabilities are protected.” In addition, the two have worked together to put employee review schedules and reporting in place.
ABOVE AND BEYOND: “Prior to my employment with the firm, [it was] growing so quickly that there was no time to look at profitability by billing attorney or overall,” says Donato. “I’ve been able to put the line items in the reports into a format that makes sense for a professional services organization, and all accounts are now reviewed and balanced monthly.”