Key Functions
- Activities of Accounts and Finance teams
- Funds management & planning
- Banking relationship
- MIS reporting
- Peer meetings and inputs
- Compliances
- Costing and Analysis
Objectives
- Financial numbers are accurate and online at any given point of time thru the prescribed system
- Relevant MIS reports are designed and provided to management in time for decision making
- Playing a crucial role in financial and investment decisions
- There are no compliance challenges
- Funds are managed and deployed in most effective way to maximize gains
- Accounts and finance teams are managed closely and efficiently
- Cordial relationship with bankers for managing credit
- Improve the ROI and valuation of shares
- The systems that work for any type of industry namely manufacturing, trading and service
Activities
- Funds management – To put company’s funds to the best utility and for the purpose assigned / earmarked
- Conducting periodic review sessions on financial and commercial numbers with management and other HOD’s
- Periodic decision making MIS and MCS reports – Aligned to existing client system and to the business needs
- Costing for all products manufactured / traded – Order-wise profitability and setting targets
- Minimizing costs wherever possible and to set clear process of expense approvals and spending without deviation
- Monitoring the budgets vs actual – revenue and expenses, ensuring its adherence and acting as the whistleblower when there is a deviation
- Supporting in implementing ERP or any other enterprise-wide system in an organization by creating the SOP for commercial, finance, compliance, purchase, manufacturing and accounts functions
Working Capital Management
- Funds Flow Management
- Past and projected
- Long term and short term
- Bank facilities management
- Optimum utilization of limits – Cash credit (OD / Packing Credit),
- Letter of Credit, Letter of Guarantee, Term Loan
- Interest control
- Foreign exchange
- AR and AP management
- Ageing analysis
- Payment planning for AP
- Mechanism for automatic follow up and escalation
- Inventory management
- Physical inventory
- Systemized
- Deposits, Advances, Statutory Receivables and others
- Online tracking
- Mechanism for automatic follow up and escalation