Chief Finance Officer
Movit Products Limited
Total years of experience :34 years, 4 Months
Since Apr 2011: CFO Innovations PVT LTD. (www.cfo-innovations.com) Lucknow, India
Founder Director & Consulting CFO
I joined hands with a group of like-minded qualified & experienced finance & systems professionals and incorporated CFO Innovations in India to cater to the growing demand of CFO services for small & medium business enterprises worldwide.
Currently serving clients based in India & Europe as ‘Virtual CFO’ entrusted with the task of managing finance / accounting functions & systems interface.
Since Jan 2012: Rajesh Srivastava & Associates, Chartered Accountants Lucknow, India
Fellow Chartered Accountant / Partner
As a Partner, I am managing audit, tax consulting, project financing, business advisory services, and analyse new/ expansion projects, along with due diligence and business valuations for SMEs.
Furthermore I manage accounting systems & ERP services, organization structuring, process mapping, and post implementation support services.
Since Apr 2011: ORION EDUTECH PVT LTD. Lucknow, India
India’s one of the largest vocational training company with 150+ centres providing job oriented training to students aspiring for high paying career in growing ITES/BPO/Retail & Hospitality sectors.
Master Franchisee Partner
Entrepreneurial assignment as Master Franchisee to oversee the start-up and expansion of Orion’s Vocational Training business through franchisee network in U.P. state territory. To streamline, develop and establish Franchisee Centres.
Currently overseeing execution of two major Government projects spanned across 20 Districts of the state for providing vocational training to candidates below poverty line and those of deprived category.
Reported to COO and Chairperson; headed SAP ERP optimization project and oversaw group finance with 35 members’ team. Served as core management team member for strategic business decisions.
• Redesigned and standardized financial reports and presentations for top management and Board
• Reduced monthly closing of financial results from 21 days to 7 days
• Initiated and implemented SAP HCM (HR) and BW (Reporting) modules and reduced payroll staff from 5 to 3, payroll processing from 7 to 1 day, and real time availability of store operational data
• Prepared and presented annual and quarterly audited financials to the Board for informed decisions and coordinated annual general meeting within severe time and resource constraints
• Improved cash flows and saved 30% financing cost by realigning credit lines and strategy for hedging net investment in overseas business and managing foreign exchange risks
• Turned the plant into profit centre by initiating manufacturing and trading of food products in order to utilize the 50% unutilized capacity of the food processing plant and bakery
• Reorganized warehouse to implement SAP WM module and attained large saving in wastage
• Led due diligence of one of the overseas operations, planned exit strategy and managed execution
Reported to CEO and Director; headed group finance with over 100 member’s team. Part of high level steering committee for strategic business decisions and oversaw SAP ERP implementation projects.
• Restructured finance organization by creating grading system and redefining job roles
• Created & led the task force to manage business process re-engineering before SAP implementation
• Achieved the same bottom-line for the group despite 25% reduction in sales, by driving the group through recession in cost optimization projects and revamping budgeting process
• Initiated monthly management summit with core management group for business show reviews
• Achieved significant reduction in receivables in the first year by redefining the credit and collection process for a portfolio of 12000 active receivables
