وليد عزت محمد فرحات فرحات

I Lead finance team and all fincial services related . I shared with management team to move the company from family business to corporate structure . I Shared with the team to apply oracle ERP and go life from Jan 2021 .We updated the full budget process and built full budget packages ( initial, revised ).We updated in company objective /vision via maximizer return project via engance bank services to increase company sales . I contributed with team to apply E-commerce and go life Apr 2022 .

I lead both finance & admin department. Company has three branches for pasta fast food . I deployed the staff of the both department . I supported to install software and manage all facilities in all branches .I deployed finance performance with my team via full costing module (Respy all products & monthly physical count ).Also we built full monthly reporting package ( P&L branches, corporat, Full COGS structure by items /categories.

Digital & Electronics Solutions Development Co. is one of the biggest Distribution Companies in Telecommunication & Consumer Electronics Goods in Saudi Arabia (Nokia/Samsung mobiles, Zain, Bein Sport & Phillips).

Responsibility included turning around and improve the company’s financials, build strong Finance department, provide financial leadership to the business, establish proper systems & procedures, lead implementation of Oracle, manage banking relationship, financing & cash management, financial reporting in terms of budgeting and controlling spending, internal controls and set up 5 years business plans and deliver these objectives.

Key achievements

• Led the roll-out of Oracle system, and established strong Finance organization capable of supporting the company’s growth along with establishment of effective financial systems & procedures. Restructured and developed Finance organization into focused and competent departments such as Treasury, Planning and Financial Analysis, Budgeting, Accounting, Shared Back Office support and Financial Controls.

• Provided financial leadership on existing businesses and new initiatives locally/internationally (Financial Sensitivity Analysis and Strategic Planning), and developed the financial capabilities/knowledge of the Leadership Team (Non-Finance Managers) which largely helped in delivering/achieving better financial business results in the company.

• Established account receivable department with full control processes (assessment credit customer’s accounts and proper legal documents to safeguard the company’s assets), besides the establishment of Receivables Insurance Concept due to very high risk in the Telecom market.

• Identified key exposure/opportunity areas especially related to stocks management (e.g. ageing and freshness) and built proper provisions policies that protect the company’s assets against fast fluctuations in the market prices.

• Effectively managed the company’s working capital and banks relationship/negotiations which resulted in getting right/enough bank facilities to cover all businesses working capital, and also realized huge savings in interest expenses by getting prime rates by negotiating with the banks.

• Managing effectively the Company’s Financials and presenting them (including future plans and recommendations) to the Executive Committee and Board of Directors, for acknowledgment and concurrences on future investments plans.

United Electronics Co. (Extra) is one of the biggest Consumer Electronics Retail companies in Saudi Arabia with a distribution arm (Zonik). Extra It’s one of Al-Fozan Group and it became Public in 2011. I started as Head Section Accounts Payable and got several promotions in several Finance & Accounting positions (Vendor’s Accounts Manager. Corporate Accounting Manager and Financial Planning & Control Manager). I started with Extra in June 2005 when it had 2 showrooms till it reached 30 showrooms in 2011 (when it became a Public Company).

July 2010 - Sep 2011
Financial Planning and Control Manager

Key achievements

• Effectively contributed with the CFO and the company’s Management Team in leading the company to IPO which was successfully executed in Dec 2011 smoothly and profitably. My role included managing the books, coordinate and handle all External Auditors requests, and effectively coordinated the Financial Due Diligence, Legal Due Diligence and the Financial Advisor as well as the CMA correspondences. I was also responsible for the Legalities (e.g. Corporate Governance, Board Resolutions etc...).

• Effectively contributed in turning around the company’s financials since 2006 (from huge losses to high profitability), through managing the P&L Risk /Opportunities, proactive financial analysis, leading cost savings projects, products margins control, proper budgeting & spending control, stock management and improved control environment.


• Provided financial leadership on existing businesses and new initiatives locally/internationally (Financial Sensitivity Analysis and Strategic Planning), and developed the financial capabilities/knowledge of the Leadership Team (Non-Finance Managers), which largely helped in delivering/achieving better financial business results in the company.

I was responsible for managing the books of Extra and other related companies (Zonik & Track). I built strong accounting team as well as handled all the external auditors & Zakat assessment team successfully. Besides, I established effective control processes to help manage the operation effectively and build proper control environment.

Key achievements

• Managed the monthly & quarterly books closing on time with full supported analysis to all management for all accounts.

• Managed to get the yearly Audited Financials on time as agreed plan.

• Build right/strong organization structure and effective control processes in all accounting areas (A/R, A/P, GL etc...).

• Full control of company’s assets (Inventory & A/R) via weekly/monthly reports of all inventory category and all A/R brands analysis by customer.

I established strong Accounts Payables Dept. which effectively managed all supplier’s accounts (around 400 supplier).

Key achievements

• Trained the team members, Assigned responsibilities and tasks to each one of them which enabled us do proper account’s reconciliations for all the suppliers on regular basis and follow up to ensure no over dues to suppliers and also to ensure all our rebates from suppliers are collected on time and as per the commercial agreements.

• Finalized old pending reconciliations with the biggest 30 suppliers with full proper settlement (issues were pending since 1.5 - 2 years before I joined the company).

• Established an effective Payables - Inventory control process and implemented it on a monthly basis, with the objective to match these modules and also to control each supplier’s payables account versus the stocks on hand we have from them. This helped us get better rebates to liquidate our pending (slow moving) stocks from each supplier.

I established strong Accounts Payables Dept. which effectively managed all supplier’s accounts (around 400 supplier).

Key achievements

• Trained the team members, Assigned responsibilities and tasks to each one of them which enabled us do proper account’s reconciliations for all the suppliers on regular basis and follow up to ensure no over dues to suppliers and also to ensure all our rebates from suppliers are collected on time and as per the commercial agreements.

• Finalized old pending reconciliations with the biggest 30 suppliers with full proper settlement (issues were pending since 1.5 - 2 years before I joined the company).

• Established an effective Payables - Inventory control process and implemented it on a monthly basis, with the objective to match these modules and also to control each supplier’s payables account versus the stocks on hand we have from them. This helped us get better rebates to liquidate our pending (slow moving) stocks from each supplier.

I worked in Mansour Group for 11 years where I gained strong and in depth experience in Distribution and Retail. I started with Loutfy Mansour (Tobacco) in 1994 and then moved to Metro Markets in 1999 within the management team that was assigned to build the project. It reached 30 showroom and became one of the biggest food retailer in Egypt. Moving forward in my career, I moved in June 2005 to work in the biggest consumer electronics co. in KSA.

1999 - 2005
Metro Market Co.
Purchases Accounting Manager

Key achievements
• I effectively contributed in establishing the Metro Market Company from the beginning (structure, construction and model) and successfully opened the first model store and then completed the other 30 stores during a 5 years period.

• I built full effective control system for all stores’ Sales Collection to match with GL and established a system for managing & control all cash officer’s cash safe balances.

• I built full payable section (15 accountants) to prepare monthly payment for all suppliers (more than 1000 suppliers) and monthly reconciliations.

• Managed the monthly closing of all sales, payable & inventory modules as agreed plan.

• Controlled and approval all company payment as fist check signature for all payments (Trade & Non-Trade).

• Managed and supported more than 20 accountant & 3 supervisor which enabled us achieve our department’s objectives & goals (monthly, quarterly and yearly).

Loutfy Mansour was the exclusive distributer of Philip Morris (Cigarette Marlboro etc.. ). It was my first career experience where I started as a Junior Sales Accountant and got promoted to Supervisor level.

Key achievements

• Effectively handled the reconciliation of the Eastern Tobaco Company which was manufacturing all cigarettes in Egypt with several accounts for all Philip Morris items/products.

• Effectively managed the daily matching of sales and inventory modules.

• Managed the big credit trade customers’ accounts regularly and effectively.

• Controlled the Marketing expenses inside & outside country.

Loutfy Mansour was the exclusive distributer of Philip Morris (Cigarette Marlboro etc.. ). It was my first career experience where I started as a Junior Sales Accountant and got promoted to Supervisor level.

Key achievements

• Effectively handled the reconciliation of the Eastern Tobaco Company which was manufacturing all cigarettes in Egypt with several accounts for all Philip Morris items/products.

• Effectively managed the daily matching of sales and inventory modules.

• Managed the big credit trade customers’ accounts regularly and effectively.

• Controlled the Marketing expenses inside & outside country.