Steve Koval

Boalsburg, PA
38 Years of Experience

About Steve Koval

Steve is a CPA and an accomplished senior financial executive with over 30 years of financial and IT management experience. During his exciting career, he has functioned as CFO, Vice President of Finance and Information Technology, Controller and Director of Finance at various companies ranging from start-ups to businesses with 60 affiliated entities and annual revenues in excess of $140 million. His experience encompasses all aspects of operational, financial and information technology management in a variety of industries. His industry expertise includes telecommunications and cable TV, broadcasting and media, ecommerce and Internet technology, retail and wholesale distribution, banking and professional services.

Steve quickly understands complex business initiatives and techniques which help him assess and develop the key performance indicators (KPIs) that drive success in any business model. He uses this knowledge to develop and implement business processes and internal controls, information systems and timely and accurate financial reports to help business owners identify and improve their financial results.

Steve’s highly skilled communication and financial planning and analysis skills allow him to work effectively with business owners and their senior management team to develop strategic business plans and related financial budgets and cash forecasts to raise debt and equity capital to finance their growth. He has been extensively involved in mergers and acquisitions, including financial and operational due diligence; negotiation of purchase and sales agreements; preparation and development of business plans and related financial projections; raising the debt and private equity to finance the transactions; and operational integration after the closing.

Steve has also negotiated credit facilities with banks to soften credit requirements, reduce the personal guarantees of business owners and increase the availability of funds to finance capital expansion and related working capital needs. As a result of this experience, he is skilled at interacting with vendors, bankers, investors, attorneys, outside CPA firms, insurance brokers and consultants. He has established numerous professional relationships during his 25 plus years in the local business community in Central PA to help business owners.

Steve also utilizes his extensive IT project management skills to assist companies making the transition from basic accounting systems to fully integrated ERP systems. He has successfully led several ERP and CRM system conversions throughout his career resulting in increased efficiency and timely and accurate financial and operating results. For project management engagements, Steve evaluates software and hardware alternatives based on specific business needs, documents various business processes, addresses relevant internal risks and controls, and can manage the overall project up to and including parallel testing and final system implementation.

Steve understands that cash flow and working capital management is the most critical aspect of any business. His cash flow model manages cash; forecasts needs while allowing for contingencies; and ensures compliance with bank covenants. He has also designed and implemented accounts receivable credit and collection processes to considerably reduce day’s sales outstanding in accounts receivable resulting in increased cash. Similarly, Steve has also negotiated favorable credit terms with vendors to reduce immediate working capital needs.

Steve prides himself on being able to effectively develop, summarize and communicate financial and operational information to non-financial managers. Some areas that Steve can help business owners improve include the following:

  • Cash flow and working capital management and forecasting
  • Strategic planning and business plan development
  • Budgeting and financial planning and analysis
  • Development and reporting of key performance indicators (KPIs)
  • Improving the accuracy and timeliness of financial reporting
  • Managing the accounting team to free up entrepreneurs for business development
  • Reengineering core business and financial processes and related internal controls to protect company assets
  • System implementations and IT project management
  • Debt and equity financing and restructuring
  • Banking, auditor and investor relations
  • Mergers and acquisitions
  • Contract review and negotiation of vendor payment terms
  • Cost reduction and restructuring

Steve earned his Bachelors of Science Degree in the Accounting Honors Program from The Pennsylvania State University and also attended Loyola College of Maryland to pursue his Masters of Science Degree in Finance. He started his career with Ernst & Young in public accounting in their Houston, TX and Baltimore, MD offices. Steve has lived in the State College, PA area (home of Penn State University) for the last 25 plus years and enjoys hiking and the outdoors, tennis, golf and the many sports and cultural events associated with a major university environment. Steve also enjoys relaxing and entertaining in his Pontoon boat with his family and friends on nearby Lake Raystown.

Other Info


  • The Pennsylvania State University, B.S. – Accounting Honors Program, May 1980
  • Loyola College of Maryland, M.S. – Finance (attended Jan 85 to Nov 86)

Certificates & Licenses:

  • CPA


  • Chamber of Business & Industry of Centre County
  • Blair County Chamber of Commerce


  • Greater Johnstown/Cambria County Chamber of Commerce


  • PSU Start-up Community


  • Alliance for Innovation & Business Development of Central PA


  • Financial Executives International (FEI)


  • Financial Executives Networking Group (FENG)


  • Chief Financial Officer Network


  • Digital CFO Network

Articles by Steve Koval