Co-Founder
kre8ive tekcepts private limited
Total years of experience :26 years, 10 Months
Responsibilities:
• Help to shape the future of kre8ive Tekcepts
• Help to get kre8ive tekcepts funded by investors
• Network for kre8ive Tekcepts
• Strategize about online marketing and advertising, how to grow the company.
• Defining our go to market message, develop & execute our marketing plan
• Use every skill acquired to promote the kre8ive model
• Analyze the competition and recommend strategic moves kre8ive
• Analyze, research, recommend, and implement processes and systems.
• Collaborate with the Strategic Founders team in growing a strong, integrated, and sustainable organization.
• Overseeing Finance Department and its functions.
Skills and Competencies:
• Help to shape the future of kre8ive Tekcepts
• Clear and effective communicator able to articulate the benefits of kre8ive model and vision.
• Builds trust and confidence by utilizing effective collaboration and co-ordination skills and competencies.
• Strong background in analyzing the competition and adapting strategies and tactics in the marketplace.
• Experience in building a high-performance team from the ground up.
• Models learning on the fly, experimenting, learning from failures, and sticking with what works
• Strong understanding of social media and a belief in the power of utilizing it.
• Relishes and thrives in an unstructured environment.
• Desire to be a part of a community.
• Knows how to set priorities and make things happen.
• Energized by taking risks
Notable Accomplishments:
• Bank Facilities and Debts re-structured.
• Finance Team expanded with definite job description and work allocation.
• Reduced cost of operation by 5% by streamlining the processes of various departments..
• Improved AX 2012 to meet the business requirements and achieved efficient paper less environment.
Responsibilities:
• Plan, develop, organize, implement, direct and evaluate the group's fiscal function and performance. Align all finance activities to enable delivery of the Groups KPIs.
• Direct all accounting services required for the Group in planning and controlling its businesses; this includes financial accounting, management accounting, forecasting, budgeting and control systems including monthly and annual accounts.
• Maintain good relationship with banks, financials institutions and senior officers in statutory regulatory body/ies.
• Ensure that appropriate assumptions are made in relation to the business' financial plan and annual budget proposals. Provide advice to CEO and Executive Directors on these matters.
• Advise CEO of the financial implications of proposed course of action.
• Enhance and/or develop, implement and enforce policies and procedures of the group by way of systems that will improve the overall operations and effectiveness of the group. This includes development of effective systems to ensure group-wise statutory Compliance.
• Establish credibility throughout the group and with the CEO and Executive Directors as an effective developer of solutions to business challenges.
• Arrange finance for the projects at the most competitive rates and terms and identify new funding opportunities. Oversee the insurance arrangement for all assets of the group and to acquire best possible coverage at most competitive rates.
• Optimize the handling of bank and deposit relationships and initiate appropriate working capital management strategies to enhance cash position.
• Oversee the coordination and activities of independent auditors, ensuring all audit issues are resolved.
• Attend Board and subcommittee meetings.
• Oversee the I.T. Systems of the group including Enterprise Resource Planning system and ensure continuous improvement to the IT regime across the group.
• Participate in recruitment of senior management including devising compensation strategies.
• Evaluation of the finance division structure and team plan for continual improvement of the efficiency and effectiveness of the group as well as providing individuals with professional and personal growth with emphasis on opportunities (where possible) of individuals.
Notable Accomplishments:
• Created sector-wise revenue centres to analyze the volume of business and its performance
• Introduced strong SOPs and Implemented effective financial controls for the respective revenue centres in all the sectors.
• Implemented Meal Management System and Product Ranging in co-ordination with food service team which improved the profit margin by 2% (Net Savings of AED. 10 Million)
• Introduced pilot project of Global Attendance System to record staff attendance and their movements which reduced the labour cost by AED 3 Million p.a.
• Assisting Operations with financial and non-financial data to take corrective measures for achieving targets.
• Improved working capital by extending the credit period for payables, reduced AR ageing, adjusting re-order levels and stock levels across the sectors.
• Recommended and implemented performance-linked bonus scheme system based on individual and operational performance scoring method.
• Reduced AR ageing which was due more than 2 years to just 120 days.
• Physical verification of all fixed assets carried out, identified the differences and implemented strict controls with respect to their movements by bar coding them.
• Proper allocation of actual project costs including mobilization and provision for demobilization expenses and management costs in agreement with senior management to identify ROI, Profitability of the respective locations.
Notable Accomplishments:
• Established the Finance Department from the scratch with the team size of 30 staff.
• Customized and implemented Oracle Financial System, Procurement, Inventory and HRMs packages
• Implemented effective financial and procurement practices within a month’s time
• Increase the payment cycle, from advance to 45 days credit, with vendors and improved debtors realization
• Introduced standard intra & inter- department reporting structure
• Strengthened the bond between accounting department with other departments.
• Implemented cost tracking system for all locations and made operation managers to understand the cost movements and accountable for their performance.
• Streamlined and made the MIS system effective, with Oracle Finance modules being ready by 4th day of every month and quarterly audits by 15th day of the relevant months.
• Arranged 90% of payments through electronic media, contributing significant cost reduction in this process. Multiple effects on overall company operation & performance. It was a breakthrough for overall company performance.
• Streamlined and prepared reports, eliminated duplicate and redundant data by means of constant review of various reports and participated in strategic decisions of the company and in management audits.
• Minimized operational and financial risks by implementing strict controls on employee benefits like no accumulation of annual leave, insuring all company assets, fidelity insurance, jobs-wise medical benefits, workmen compensation insurance etc.,
• Screening new projects by performing financial modelling and conducting feasibility studies to assess the financial viability of various projects, equipment, and predictable cash flow and growth opportunities.
• Dealt with major clients - ADCO, French Naval Base, ADAT etc., related to invoicing issues and claimed variation of about AED. 30 Million.
• Advised operations and HR to prepare a consolidated staff annual leave plan in order to recruit minimal relievers so as to comply contractual requirements at less cost which yielded a savings of about AED. 2 Million.
• Negotiated with bank to extend facilities to cover labour and performance guarantees at minimal cost and margin.
Notable Accomplishments:
• Improved company finance with tight Budgetary Control & Monitoring since assuming the present assignment.
• Prepared special Statistical Reports on various heads for Management to take timely preventive and constructive measures.
• Establishes, coordinates and administers an adequate plan for the control of operations including profit planning, expense budgets and cost standards together with the necessary controls and procedures to effectuate the plan.
• Analyses performance according to operating plans and standards; reports and interprets the results of operations to all levels of management.
• As a team member, contributed for constant review of time costs of each associate and proper allocation of costs and time to the respective projects.
• Lead the accounting integration team of Cansult and Maunsell under the supervision of Accounting Co-ordinator.
• Actively involved in collecting the receivables from SAMA Dubai, DEWA, RTA, Global Village and other major clients and managed to invoice & recover outstanding worth of AED. 23 Million.
• Developed yearly department budgets and organization budget based on overall plans of the organization.
• Introduced reporting pack for monthly MIS and for audit purpose.
Notable Accomplishments:
• Rectified all backlog work of 6 months in accounts within 45 days.
• Expanded the finance team size to 20 by bringing rejuvenating with qualified staff.
• Recovered 70% of AED. 205 Million from major clients which was due for more than a year due to minor non-contractual obligations and the rest through debt collectors & legal proceedings.
• Employee salary and benefits got unified as one package which replaced differential pay methods and modes in order to identify proper CTC per staff, by month and annum and also to reduce the financial risk associated with it.
• Introduced proper control system in accounting to streamline its functions:
Introduction of proper purchasing system to streamline the purchases
Curtailed reimbursements of unauthorized purchases or expenses.
Principal entries were made only if the documents had been supported with necessary details.
Maintained the books in a systematic order.
Introduced payment schedule to strengthen the cordial relationship with creditors.
Listed out the current liabilities, immediate expenses and other payables and priorities given based on the date of maturity.
Long-term outstanding settled amicably by making a less burdening payment schedule.
• Stream-lined the cash flow by taking following steps:
Advised the management to obtain advance payments, bank guarantees and L/Cs before commencement of any project to reduce bad & doubtful debts.
Reported to the management about those clients who were irregular about releasing their payments and details of follow-ups made.
Introduced back-to-back payment system with all suppliers for each and every project with minimum value of AED. 5 Million.
• Established cordial relationship with the bankers and obtained following assistance from banks:
Overdraft facilities, Term L/Cs, Term Loans & L/Gs etc. - AED. 100 Million
Accounts in different banks got moved to Commercial Bank of Dubai in order to consolidate the financial transactions of the company and also to reflect the business volume.
Notable Accomplishments:
• Implemented Inventory Management System reduced stock levels and Reduced Cost of Sales by 3%.
• Implemented Bar Coding system for Fixed Assets, Staff Attendance and Payroll Automation.
• Accelerated the month-end closing process to the tenth calendar day of every month.
• Initiated an income and expense flux analysis for the first working day of the month that provides for early identification and correction of posting errors.
• Designed and led implementation of financial systems including GL, AP and Catalogue Cost Accounting.
• Successfully developed MIS reports on raw material consumption and influenced the top management during my tenure.
• Facilitated numerous learning programs on new reporting systems.
Master in Business Administration specialized in Finance & Marketing
Major in Business Management