Company Profile

Our Mission

To help clients improve their treasury/financial operations and reduce costs by providing both the expertise and a cost-effective alternative to performing treasury and other financial projects in-house.

Our History

Hoyt Treasury Services, LLC (HTS) was established over twenty years ago to provide treasury consulting and project staffing expertise to companies that do not have the time or talent to perform these projects in-house.

Since then, Hoyt has continued to serve its clients as an excellent alternative to performing projects in-house. HTS involvement has helped numerous companies complete their projects successfully, on time, and in a cost-effective manner - by providing outstanding analytical skills, treasury and industry expertise, and experienced project management.

HTS has performed treasury and other financial projects for organizations in a variety of industries. These include Automotive, Direct Marketing, Distribution, E-Commerce, Education, Government, Grocers, Healthcare, Insurance, Manufacturing, Non-Profit, Restaurant, and Retail.

Service Overview

With HTS, your project is handled by the same treasury consultants from start to completion. HTS' President, Dennis Hoyt, consults with you on your project needs, is involved with and responsible for its quality, and follows up with you after project completion. Though additional outside resources may be brought in on occasion, the work is always done by quality, experienced financial professionals that have been specifically selected to work on your project(s).

Now, engaging a large consulting firm or even performing your projects with an in-house staff may be the best decision for your organization. But if you desire to outsource your project, and want to be comfortable that the people doing the work will be providing you the highest level of quality at a reasonable price, then HTS is your answer.

Dennis Hoyt
President

The firm's President, Dennis Hoyt, is an accomplished treasury consultant and financial executive with an MBA in finance. He is also a CPA and a Certified Treasury Professional (CTP). His 25-year accounting and financial career has focused on treasury work — both in the corporate world and as a consultant. His broad treasury background gives clients access to valuable banking, transaction processing, and software providers on a national level. Hoyt takes a hands-on approach to every project. Each client receives the benefit of his critical analysis, innovative ideas, problem-solving solutions, professionalism — and his ability to work with and relate to both client management and staff personnel. With HTS, your project gets the attention and the expertise it deserves.

Expertise to Meet Your Needs

You may be a small or middle-market company with a less than fully developed treasury department. Or a much larger company with a treasury department spread too thin. Either way, you don't always have the time or talent in-house to complete all of your treasury and financial projects on schedule — and it’s costing you money.

HTS is your "treasurer for hire," allowing you to outsource your treasury and financial projects to an expert. HTS provides you the opportunity to better leverage your own financial staff, and benefit through improved project quality and greater savings.

Hoyt Treasury Services specializes in performing treasury-related financial projects. Built on over 25 years of financial and treasury experience, the firm offers cost-effective treasury services on a project basis – from just a few days or weeks to several months in duration.

With HTS, your project will be performed in a professional and confidential manner. Results will be timely and high quality – allowing you to avoid the detail, and focus your attention on your organization's goals!

Specializing in...

Bank, Lease, and Private
Placement Financings

Seek out new lenders. Negotiate improved financing terms, more meaningful covenants, and better pricing. Prepare a credit agreement summary for management reference, and develop pro-forma F/S covenant compliance model for required reporting to lenders.

Result is a financing that is best suited to your company's needs, with greater availability, better overall terms and pricing, and improved covenants.

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Cash Management Reviews

Review bank accounts and services, cash flows and procedures, controls and reporting. Identify opportunity costs related to inefficiencies, high cash balances, and vendor charges.

Resulting report provides recommendations and a detailed action plan for reducing cash management costs, improving banking services and internal controls, and strengthening procedures and cash management reporting.

Cash or F/S Forecasting

Prepare short or long-term forecasts of company's cash flow and position, or of it's financial statements. Also, develop and document procedures for the ongoing updating of the forecast by internal personnel.

Result is a significant improvement in the methodology used by the Company to determine future activity and balances - whether cash, debt, investments, or other F/S items.

RFPs for Credit, Debit,
and Gift Card Processing

Review your card processing costs, analyze problems (interchange downgrades, excessive charge-backs, etc.) and their causes, and discuss future needs. Develop a customized RFP that addresses your specific processing needs, document and analyze vendor proposals, and assist with vendor selection and any processor conversion.

Result is lower processing costs, and a processor best suited for your future volumes and needs.

Due Diligence and Merger Integration

Review, document, and opine on all treasury-related activities of the target company. These include existing financing agreements, banking relationships, hedging activities, cash-flow forecasts, insurance, controls over receipts and disbursements, etc. A plan can then be developed for the integration of the target company’s treasury department. During the merger, further efforts include the assimilation of all activities and balances of the target into the purchaser, development of procedures, training, and the development of the needed reports and controls.

Result is a due diligence report for management which documents and summarizes the target’s status and any concerns, as well as a plan for the integration of all activities. Post-merger, additional efforts result in an optimally structured and staffed treasury department for the combined entity.

Employee Paycard

Review and document current methods of paying employees, investigate other alternatives, and present to management a cost/benefit analysis for the best overall employee payment options. Lead or assist with implementation of selected approach.

Result is a less-expensive and more efficient overall method for paying employees.

RFPs for Banking Services

Develop a request for proposal for banking services, analyze bank responses, and assist with bank service selection and implementation.

Results in rationalized, improved, and lower cost banking services.

Interim Treasury Positions

Functioning as Treasurer or Assistant Treasurer, perform and/or manage ongoing corporate treasury functions. During this time, HTS can also identify and implement improvements in processes, cost reduction, and controls.

Result of interim role is the proper fulfillment of all treasury responsibilities, with a road map established for further improvements to be made – leading to a better-structured and lower-cost function.

Treasury Management Reviews

As opposed to the tasks performed in a Cash Management Review, this review focuses on the company's overall strategies relative to industry best practices in the areas of debt and investments, use of available technologies, foreign exchange, risk management, disaster recovery planning, staffing allocation and levels, and other areas.

Resulting report provides comparisons to industry practices and numerous recommendations for improvement.

Risk Management

Review company’s overall risk management strategies and approach regarding P&C, Workers Comp, and other insurance types. Includes review of internal and broker reporting, claims processing and payment, and broker/carrier costs, servicing and abilities.

Result is a report providing recommendations regarding insurance coverage needs, external and internal reporting, and broker/carrier selection.

International Cash Management

Review current hedging processes of FX cash and loan balances and activity. Identify potential short and long-term exposures relative to acceptable levels of risk. Determine the most effective hedging strategies for the Company, including netting and the use of derivative instruments. Develop/revise procedures to allow for the control over and proper accounting of FX transactions and any derivatives.

Result is a more efficient, better controlled, and less costly method of transacting business utilizing foreign currencies.

Cash Management Reporting
and Software

Analyze cash management reporting needs and recommend the best overall solution - from a simple Excel-based “Daily Cash Report” to vendor software for deposit reconciliation, POS exception reporting, TWS, etc. Assist with report writing and/or implementation.

Result is the best cash management reporting software for your needs.

Other Financial Projects

Purchasing Card programs
Feasibility and Benchmarking Studies
Electronic Invoicing implementation
A/P and A/R Processing Reviews
401k Plan selection
Sarbanes-Oxley compliance

Download the article, "Grocer's, Get Ready for Sweeping Credit Card Changes," by Dennis Hoyt, published in Michigan Food News.

Download our Complete Listing of Services for more information about how working with Hoyt Treasury Services can benefit your company.

Client List

Broadway Grand Rapids Grand Rapids, Michigan The Children's Place Secaucus, New Jersey Coldwater Creek Sandpoint, Idaho Crate & Barrel Chicago, Illinois Dana Corporation Toledo, Ohio Dematic Corp. Grand Rapids, Michigan Family Christian Stores Grand Rapids, Michigan Fazoli's Italian Restaurants Lexington, Kentucky G & T Industries Grand Rapids, Michigan Golf Galaxy Edina, Minnesota Gordon Food Service/GFS Marketplace Grand Rapids, Michigan Goodwill Industries Grand Rapids, Michigan Gymboree Burlingame, California Hastings Mutual Insurance Hastings, Michigan Kindermusik Greensboro, North Carolina LeapFrog Enterprises Emeryville, California Lutheran Social Services of Michigan Detroit, Michigan Maui Jim Peoria, Illinois MC Sports Grand Rapids, Michigan Mi Pueblo Foods San Jose, California The Nailco Group Farmington Hills, Michigan Nano-Tex Oakland, California New Seasons Market Portland, Oregon Open Table San Francisco, California Perrigo Company Allegan, Michigan Powers & Sons Montpelier, Ohio Siemens Energy & Automation Arlington, Texas Sportmart (part of The Sports Authority) Englewood, Colorado Thomas & King Lexington, Kentucky TRW Automotive Livonia, Michigan Universal Forest Products Grand Rapids, Michigan Washington Metro Area Transit Authority Washington, D.C. West Marine Watsonville, California Williams-Sonoma San Francisco, California X-Rite Grand Rapids, Michigan

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What Some of Our Clients
Have to Say...

“We used Hoyt for several projects at Mi Pueblo. First, he assisted us on several cash management initiatives, including reviewing overall processes and implementing recommendations for improvement, developing an RFP for credit card processing, analyzing paycard proposals, helping us determine the best store deposit methods (smartsafes, electronic deposit, etc.), and training treasury personnel. Hoyt later helped us in our bank financings – developing cash & F/S forecasts, analyzing lender proposals, negotiations, and developing compliance reporting. I recommend Hoyt to others for various projects to lower costs, introduce new processes, and strengthen their treasury function.”

Juvenal Chavez, Founder and Chairman
Mi Pueblo Foods

“We used Hoyt in an interim role to help us during a period of intense activity and multiple parallel projects. He assisted us on several financing and cash management projects. We were impressed with his thoughtful approach, organization and analytical skills. His abilities to identify both critical needs and opportunities for savings will help our company in the near future. I would strongly recommend Hoyt to others seeking an external, consultative perspective on treasury issues.”

Judy Brown, Chief Financial Officer
Perrigo Company

We had just completed a financing. Though not directly involved in the financing, Hoyt stepped in and prepared for us a summary of the agreement, and a calendar of all reporting and payment requirements. The summary was topical, easy to understand, and referred to the agreement itself as needed. The calendar helped us to stay on time and on track in meeting all payment and reporting requirements. Additionally, Hoyt later provided excellent insights in other banking and forecasting areas. We were extremely happy with our partnership with Hoyt.

Michelle Lantow, CAO
New Seasons Market

"Hoyt led several treasury and financial projects for us, resulting in significant improvements in our reporting and controls - and allowing us to generate further savings. HTS' abilities to develop ideas and implement solutions proved to be a great asset to the Company."

Keith Bobrowski, Director of Treasury
Dematic Corp.

"I've used Hoyt on numerous occasions and have always been impressed with his abilities to manage projects as well as in identifying opportunities for improvement in all areas. His work has resulted in significant savings, more efficient processes, and improved controls and reporting. Hoyt Treasury Services has paid for itself many times over."

Jim Curley, CEO
Nano-Tex, Inc.

"We've used Hoyt for several financial projects. His ability to recognize and improve upon weaknesses in our controls and reporting – as well as in identifying further opportunities for savings – was just what we needed. We've been very pleased with the results. I highly recommend HTS to others."

Michael Dougherty, Chairman & CEO
Kindermusik International

"While CFO at a prior company, we used HTS for many treasury-related projects. HTS did an outstanding job helping us finance a merger and assimilate the treasury operations for the combined organization."

John Zott, President
Bates Creek Research & Consulting

"Thank you for the good work you did on our cash management review. We implemented all your great suggestions, as they provided us a valuable road map for our initial efforts – thank you!!"

Frank Bruno, Manager, Cash Management
Crate & Barrel

"At a subsidiary company, Hoyt assisted us in financing, card processing, and cash management projects – he always helped us achieve significant time and cost savings."

Tom Hendrickson, CFO
The Sports Authority, Inc.

"I've used Hoyt for several treasury projects, both to achieve savings and to identify additional opportunities for improvement."

Craig Wassenaar, President & CFO
Skytron

"HTS excels at both detecting internal control weaknesses and identifying specific areas for cost reduction."

John Morrison, Senior Director of Internal Audit
DaVita Inc.

Hoyt Treasury Services specializes in performing treasury-related financial projects. Built on over 20 years of financial and treasury experience, the firm offers cost-effective treasury services on a project basis – from just a few days or weeks to several months in duration.