Business Development Executive
Shumukh Al Jazeera Paints
Total years of experience :13 years, 8 Months
My primary responsibilities revolve around identifying new business opportunities, cultivating relationships with potential clients or partners, and expanding the company's market reach. Development and implementation of strategies to meet sales targets, analyze market trends, and conduct thorough research to understand customer needs and preferences. Collaborating closely with the sales, marketing, and product teams, negotiating contracts and agreements that align with the company's objectives. Additionally, engage in networking activities, attending industry events and conferences to foster connections and promote the company's brand. Ultimately, goal is to drive sustainable growth by seizing opportunities, forging strategic alliances, and contributing to the overall expansion and success of the business.
Professional Responsibilities:
• Formulating strategic and long-term business plans. Researching and reporting on factors influencing business performance. Analyzing change and advising accordingly.
• Leading in all Accounting, Costing, financial management & Commercial issues by implementation of financial and business strategies to protect profits/Asset.
• Ensured Financial support for critical initiatives of Supply Chain management. Bank Financing arrangements. Predictive financial models, activity-based business analysis to provide insights in business operations & plans.
• Prepares and completes marketing action plan.
• Meets marketing and sales financial objectives by forecasting requirements and preparing annual budgets.
• Developing external relationships with appropriate contacts, e.g., auditors, solicitors, bankers, and statutory organizations such as the Tax Authorities.
• Determines annual and gross-profit plans by forecasting and developing annual sales quotas for regions.
• Developing growth strategies and plans for Al-Mumtaz Group.
• Planning and overseeing new marketing initiatives.
• Finding and developing new markets and improving sales.
• Developing goals for the development team and business growth and ensuring they are met.
• Coping up with all the Financial & Cost Accounting and Finance issues for Al-Mumtaz Group.
• Liaison with the Banks for different financing options. Fund and working capital management by suggesting credit control and collection system to ensure that liquidity conversions are sufficient to manage obligations.
• Participation in preparation of annual budget for Al-Mumtaz Group.
Key Achievements:
• Coupled with operating management, set targets for business development and growth in sales revenues. The Initiative yielded the sales increase of 30%.
• Sales increase of 30% with average 17% in profits by Flexing business in new markets & introducing new products.
• Operation cost of 22% reduced to 15% with Implementation of smooth policies and procedures. This cost cutting increased 3% sales revenue of the Al-Mumtaz Group.
• Product Portfolio management by Pulling Resources (Financial, Marketing & Human) from slow moving into Cash Cows, thereby increasing sales, and reduced financial investment & cost tied up in dead inventory.
• Added 4% in Profitability by investing in high margin value added products.
• Strategic Supply chain effective alliance decision specifically in electronics segment added value by strengthening operations to reduce cost & cycle time. Saved 4% in stock holding investment & cost.
Restructured internal controls & business processes to save customer’s order execution time & cost.
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3% revenue increase & cost savings of 9% vs outsourcing with establishment of in-house Logistics department.
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Added 18% in total sales & 10% in profitability with new market development. Financing arranged at minimum capital cost.
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Successfully negotiating investment projects with Banks. Arranged financing and in turn increased Group’s revenue by 19% on average return on capital employed (ROCE) of 13%.
Decreased average days sales outstanding (DSO) from 60 days to 45 days, improving cash flow by 25% over a fiscal year.
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Implemented new accounts payable procedures resulting in a 15% reduction in late payment penalties and negotiated vendor discounts, saving the company $10, 000 annually.
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Streamlined reconciliation processes, reducing month-end closing time by 15% and enabling faster financial reporting.
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Implemented a cost-control strategy that led to a 5% increase in net profit margins within the first year.
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Implemented training programs resulting in a 15% increase in team productivity and accuracy in financial reporting.
Lead, plan, and perform financial and operational audits.
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Recommended change in procedure that resulted in a 70% reduction in Company bad-debt ratio in a major business segment.
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Lead fraud investigation audit which led to the successful prosecution and recovery of over $32, 000.
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Produced monetary recovery of more than $ 49, 000 by identifying errors in contract billings.
Prepared Financial Statements & other reports that provide insights to the company's financial performance.
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Developed budgets and financial forecasts based on analysis of past financial data, market trends, and company goals.
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Supervised the accounts payable and accounts receivable processes, ensuring timely payments to vendors and collection of payments from customers.
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Analyzed financial data, performance metrics, and key performance indicators (KPIs) to identify trends, opportunities, and areas for improvement. This analysis aided in making strategic business decisions.
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Implemented and maintained internal control procedures to safeguard the company's assets and ensure compliance with regulations and company policies.
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Ensured compliance with tax regulations, preparing and filing tax returns, and collaborating with tax consultants to optimize tax strategies for the company.
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Supervised and lead a team of accounting professionals, assigning tasks, providing guidance, and ensuring their professional development.
I got first division in my Graduation plus I always got First grade position throughout my educational journey.