Executive Director
Invenxions Business Consulting Services
Total years of experience :30 years, 5 Months
• Invenxions Business Consulting Services (Invenxions) is a registered close corporate established to provide professional services in Accounting and Finance, Commercial Services and Corporate Advisory Support Services. The range of services we offer, include amongst others, modeled business solutions to clients in the following functional disciplines:
Strategic Advisory Services
• Corporate strategic analysis embracing the market and economic framework within the industry
• Corporate Strategy and Planning in alignment with the entity’s Key Performance Indicator
• Annual Planning and Budgeting processes
• Design and implementation of company and individual Performance Management scorecards
• Assistance in the development of turn-around strategies and corporate restructuring undertakings
• Mergers & Acquisitions
• Due Diligence Services & Business Valuations
Accounting & Financial Management Services
• Accounting, Tax and Financial Management Services
• Management Accounting and Financial Statutory Reporting
• Year-end Financial Reporting and enablement of year end statutory audit services
• Financial Planning and modeling
• Monthly Management Accounting and Variance Analysis
• Cost/Profit Centre performance evaluation for Exco reporting and feedback
General Corporate Support Services
• Business Process Management
• Audit and Risk Management Services
• Corporate Governance, interaction and reporting to Governance Committees
• Project and Programme Management
• Asset Management
• Coaching and Training
Vendor Supply Management Services
Assist and act on behalf of clients in the ordering and supply of goods, material and equipment to facilitate the timely, effective and least cost supply chain processes to ensure that clients secure best commercial deals to enhance procurement savings and increased returns across the value chain.
Responsibilities:
- The end to end management processes for the
Financial Operations department
- Preparation and analysis of Monthly financial and
management accounting reports for Group and
Exco
- Financial Planning and Analysis of performance
against budget and analysis of variances
- Adoption and compliance to new accounting
standards (IFRS reporting)
- Integrated annual financial reporting
- Management of capital projects and budgetary
control
- Evaluation of business cases for capital projects
- Coordination of annual statutory audits
- Working capital and cash flow management
- Prepare and deliver on the financial operations
plan in support of the corporate strategy
- Advisory role to CFO and Exco
Responsible for the entire management of the organization’s financial activities, which include,
inter-alia the following, Financial reporting, Budget planning and budgetary control, management
of the financial and investment strategy, and overall financial strategy management for the
organization.
Financial
* Ensuring the integrity of the general ledger and review of monthly financial reports for
management and Group reporting.
* Review of monthly, interim and year-end financial accounting and tax reports, for integrity and
accuracy for audit and reporting to Transnet Group.
* Preparing executive summary reports for management presentation to the Transtel’s
management committee, audit committees and divisional board.
* Coordinating the Balance Score Card information for financial, performance review analysis
and interpretation of results against corporate plan targets.
* Participate in the preparation of divisional and organizational business plans, and for
alignment of the business plan to the budget.
* Effect proper decentralization and management of the budget at cost centre levels, for
enhancing responsibility and accountability of performance within business units.
* Reviewing and balancing of inter/intra company transactions between business segments.
(Transfer Pricing)
Other Responsibility Areas
* Capital investment planning and decision making.
* Management of working capital, and optimization of the capital structure for Transtel’s
Balance Sheet restructuring.
* Business re-organisation and restructuring planning and evaluation of the business split for
sale of business and re-alignment purposes.
* Liaising with external and internal auditors for the planning and roll out for audits, and in
presenting feedback to the audit committee.
* Accountable for the implementation and management of ERP systems i.e. Oracle for financial
reporting and for management information.
* Managing the Procurement policy framework and ensuring there are sound procurement
processes.
* Oversee the Supply Chain Management framework from procurement, sourcing and contract
management.
* Ensuring compliance to Public Finance Management Act (PFMA)
* Providing an advisory role to the CEO and the Board.
* Participatory and advisory role to EXCO.
Transtel acquisition by Neotel (Pty) Ltd
* Participation in the due diligence and business valuation process for Transtel’s acquisition by
Oversee the day to day operations of the Finance business unit.
* Evaluation of financial and operating systems to facilitate an effective and efficient systems
control environment.
* Ensure that the accounting practices and policies comply with the Generally Accepted
Accounting Practices (GAAP).
* Prepare for the Board and management, the monthly and periodic management accounts and
variance analysis reports.
* Prepare year-end financial statements pack and supporting schedules for the audit.
* Participated in the drafting of business plans and budgetary planning decisions.
* Business activity mapping into the budget plan, through activity costing and variance analysis.
* Carry out capital projects investment appraisal and tax planning decisions.
* Revenue Assurance role to assess normal technical power transmission losses, and revenue
leakages for plan of action in ensuring completeness of billing and revenue collections.
* Management of billing exception reports from the mapping of billing meter records to meter
survey data records for analysis of revenue leakage from unbilled power consumption
* Provide advisory role to management.
Strategic Financial Management and Business Administration with an end to end orientation to broader scope of managing corporate affairs across the corporate value chain. A case study project/ dissertation based on past merger and acquisition transaction in the financial services sector of which reasons that led to its failure were referred to as a guide for factors to be undertaken in structuring successful mergers and acquisition deals.
Obtained an MBA qualification in April 2005, majoring in Financial Management with dissertation focus on the success behind mergers and acquisitions. Undertook a project to analyse the reasons for failure in mergers and acquisitions within the Financial sector (Banking industry) and proceeded with a case study research on this as part of fulfilling the requirements for my dissertation.
Qualified as a Chartered Accountant through the Lesotho Institute of Accountants. The qualification caters for advanced accounting, auditing, tax and financial management, as well as business management skills at both strategic and operational level of business operations. It involves planning and analysis of information for business to undertake critical decisions as well as providing sound and accurate financial reporting information for business planning, performance measurement and decision-making purposes at all stakeholder levels.
The qualification covers basic knowledge of business principles pertaining to the accounting function and business management. Provision of end to end basic business management skills to enhance entrepreneurial management capabilities and reporting skills at an organisational level.