Financial Planning & Credit Manager
Desertline Projects WLL
Total years of experience :26 years, 9 Months
- Set Up Sales & Collection Budget for all Industrial Divisions (Forecast - Monthly & Quarterly)
- Review division’s Projects updates for making progressive Invoices on time
- To Ensure Positive Cash flow for all the ongoing projects.
- Conduct weekly call with Business Development Executive/Manager on Collection Follow Ups.
- Setting Up Credit Policies and do periodic review on Credit Limits & Payment Terms.
- Make regular visits for disputed / Delayed Invoices.
- Ensure to maintain Positive Cashflow and each division operates as standalone entity.
- Approve all the credit orders in ERP to make sure Margins and Credit Terms are properly maintained.
- Work closely with Sales Team & Divisional Accounts Managers/Accountants to ensure collections are made to cover Supplier Payments and Salaries are paid on time.
- LC Application review and preparing LC documents, follow-up with the same, negotiate and collection.
- Maintained LC tracker for complete control.
Objective
Deputed to Qatar, in anticipation of development leading to WC2022, to assist Management team in setting up local Sales forces to execute a growth strategy for Trane Equipment Systems, Services and Controls Contracting & Turnkey Solutions business; as a full P&L owner also to manage, provide direction and leadership, ensure profitable and sustainable growth with satisfactory cash flow and train sales force on Trade Finance activities.
Achievements
Growth Excellence
- Setting with Annual Operating Plan with Regional Office aligning with corporate goals & objectives
- Cascading the same to departmental heads with Monthly Risk & Opportunities on achieving AOP.
- Supported Sales Force to achieve sales Annual Operating Plan every year baring 2019.
- Variance analysis on the business performance and suggesting timely/corrective actions to actual variances against the annual budgets and forecasts.
- Delivery consistence OI% YOY and Leverage.
- Consistently scoring high in Performance Management Program.
Operational Excellence
- Maintained a good control over spending compared with AOP throughout.
- Delivered favorable cash flow position consistently near 100% of operating income.
- Preparing the Performance Review Report for Variance Analysis in comparison with Actual and the budgeted figures for Month actual and forecast
- Ensure transparency in General Ledger and balance sheet maintenance and review.
- Consistently completed Statutory & Tax Audit 1st among other regional offices in MEA.
Trade Finance Activities
- Manage Trade Finance Activities such as LC Application Review and Approval, Timely preparation of LC documents for negotiation.
- Work with bank on better discounting rate based on LC value and tenor. Especially without recourse.
- Maintained tight control on receivables with DSO running between 60 and 90 days. More importantly controlling delinquent days.
- Work with Sales & Operation team on solving dispute cases.
- Setting up credit line and review periodically with Sales Team.
- Present Monthly MIS report on AR Aging, DSO Days movement, Delinquent days and Dispute cases.
- Having daily/weekly collection call with Team for Cash Flow improvement.
Software skill Excellence
- Headed team of Super users and successfully implemented Oracle R12 in two countries, Qatar & Kuwait.
- User Champion for implementing / splitting up books for Qatar & Abu Dhabi from Dubai Books in Iscala.
- User Champion for Implementation of Hyperion Planning for reporting & Consolidation
- User Champion for implementation of Hyperion Financial Management, IRPLAN2, ASO Reports.
- Hands on experience in Microsoft Excel
Awards & Recognitions
- Received Wining Culture Award for Think Like Owners in Q2 2019.
- Promoted Financial Analyst to Controller in 3 years.
- Couch and Manage Kuwait Finance between 2016-19 during the transition period.
- Complete In Charge for Revenue Recognition for UAE & Gulf.
- Making cost provisioning & Booking Cost for revenue recognition.
- LC Application review and preparing LC documents, follow-up with the same, negotiate and collection for UAE & Gulf region.
- Maintained LC tracker to for complete control.
- Doing Service billing and reviewing the Work In Progress.
- Doing the Payroll processing for all employees.
- Follow-up on Receivables for overdue Invoices.
- Doing Account Recondition on monthly basis
- Monthly End closing of Iscala Books and reporting in Hyperion.
- Work with PwC on timely completion of Statutory Audit
- Raise Invoice for Insurance Claims and match the receipt against it.
- Prepare dispute and unpaid claim and attend reconciliation meeting.
- Bring down the dispute & unclaimed amount less than 2% of billing.
• Raising timely Invoice both customer and inter-company
• Follow up with the customers for payments
• Customer balance reconciliation.
• Reconciliation of Inter & Intra Company Accounts.
• Preparation of Audit Schedules