Accounts Receivable Financial Management

PAKKI HARA BHASKAR RAO

Email ID - ***********@*****.**.** Mobile No - +91 – 630-***-****, 998-***-****,

Seasoned Finance Professional with Over 25 Years of Expertise in Financial Management and Regulatory Compliance

PROFILE ABRIDGEMENT

Senior Financial Leader with over 25 years of extensive experience in finance and accounting, specializing in areas such as internal audit, banking operations, tax regulation, and financial compliance, contributing to robust financial management and organizational growth.

Demonstrated expertise in managing comprehensive accounts receivable, credit management, and cash flow operations, significantly improving financial accuracy and reliability for top-tier companies like Hindustan Coca-Cola & Beverages Pvt Ltd.

Proven track record in strategic financial planning, including preparation of annual sales budgets, marketing expenses, and trade schemes aligned with corporate objectives.

Strong experience in import/export logistics, including customs clearance and documentation, enhancing operational efficiencies and compliance with international trade regulations.

Advanced proficiency in a variety of financial software and systems, including SAP, Tally, MS Excel, and Microsoft Office Suite, facilitating streamlined data management and reporting.

Effective leadership in implementing GST and transitioning to automated compliance systems, minimizing discrepancies and ensuring adherence to latest tax laws.

Skilled in negotiation and management of banking instruments such as LCs, BGs, and term loans, optimizing financial operations and credit facilities.

Excellent communicator with multilingual abilities, capable of leading diverse teams and liaising with stakeholders to drive business and financial initiatives.

SKILLS

Financial Auditing

Regulatory Compliance

Tax Planning & Compliance

Strategic Financial Planning

Internal Controls

Budget Preparation & Management

Accounts Receivable

Banking Operations

Import/Export Management

GST Implementation

ERP Systems

SAP Expertise

Financial Reporting

Risk Management

Cost Reduction

Stakeholder Engagement

Team Leadership

Project Management

MAJOR ACHIEVEMENTS

Financial Strategy and Planning: Expert in developing and implementing financial strategies, including budgeting, forecasting, and long-term planning to drive company growth and financial health.

Regulatory Compliance and Reporting: Extensive experience in managing compliance with financial regulations, including GST, Central Excise, Sales Tax, and company law, ensuring all practices meet statutory requirements.

Audit and Risk Management: Proficient in conducting internal audits, risk assessments, and implementing risk mitigation strategies to safeguard organizational assets and ensure financial integrity.

Banking and Financial Operations: Skilled in managing complex banking operations, such as LCs, BGs, term loans, and cash credit facilities, optimizing financial operations and liquidity management.

Accounts Receivable and Credit Control: Demonstrated ability to manage and streamline accounts receivable processes, enhance debtor management, and maintain stringent credit control to improve cash flows.

Tax Planning and Optimization: Knowledgeable in various aspects of tax planning and management, ensuring effective tax strategies are in place to minimize liability and maximize compliance.

ERP and Financial Systems: Advanced proficiency in multiple ERP systems, including SAP, Tally, and other accounting software, enabling efficient financial data management and decision-making support.

Process Improvement and Efficiency: Adept at identifying process inefficiencies and implementing improvements to enhance productivity, reduce costs, and improve overall financial management practices.

Leadership and Team Management: Strong leadership skills with the ability to mentor and manage finance teams, fostering an environment of accountability, precision, and continuous improvement.

Stakeholder Management and Communication: Effective communicator with a proven track record of working successfully with internal and external stakeholders, including regulators, auditors, and business partners.

MAJOR ACHIEVEMENTS

Enhanced Financial Reporting Accuracy: Implemented advanced ERP solutions that streamlined financial reporting processes, significantly improving accuracy and timeliness of financial data for strategic decision-making.

Led GST Implementation: Spearheaded the transition to GST from older tax regimes, overseeing the integration of new compliance measures into existing financial systems, ensuring seamless adaptation across the organization.

Optimized Cash Flow Management: Redesigned accounts receivable and credit control processes, which improved cash flow management and ensured timely collections from clients.

Financial Compliance Leadership: Established rigorous compliance frameworks for Central Excise, Sales Tax, and Income Tax, significantly reducing the risk of non-compliance and minimizing potential financial liabilities from regulatory penalties.

Process Improvement Initiatives: Initiated and led multiple process improvement projects that resulted in enhanced operational efficiencies, reducing process turnaround times and lowering costs without compromising quality.

Strategic Financial Planning: Developed and implemented comprehensive financial strategies that aligned with organizational goals, supporting sustained business growth and financial health.

Team Leadership and Development: Mentored and developed a finance team, enhancing their skills in financial management, compliance, and software proficiency, which improved team performance and efficiency.

Strengthened Banking Relations: Negotiated and managed banking instruments and facilities, fostering strong relationships with financial institutions, which enhanced financial operations and support.

EMPLOYMENT HISTORY

Hindustan Coca-Cola & Beverages Pvt Ltd Accounts Team Leader November 2003 - Present

Managing the accounts receivable process to ensure timely and accurate billing and collections from distributors, enhancing financial stability.

Overseeing discount management practices to align with monthly and annual financial goals, maintaining rigorous control over promotional expenditures.

Developing and monitoring sales budgets, including trade schemes and key account discounts, to ensure alignment with strategic marketing and financial objectives.

Implementing robust processes for GST compliance, ensuring accurate tax filing and adherence to changing regulations.

Leading the transition to automated financial systems to enhance reporting accuracy and operational efficiency.

Monitoring distributor claims processing to ensure timely resolution, improving distributor satisfaction and financial accuracy.

Approving dispatches based on secondary sales analysis and distributor inventory levels, optimizing supply chain operations and ensuring product availability.

Compiling secondary sales data to maintain firm control over debtor management and enhance collection processes.

Preparing detailed MIS reports for discounts, schemes, and marketing expenses, providing critical data to support financial decisions and highlight deviations from budgets.

Hytronics Enterprises Accounts Officer Jan 1994 – Oct 2003

Maintained comprehensive financial records, including general ledger, sales register, and purchase register, ensuring accuracy and compliance.

Facilitated all banking operations, including cash credit management, term loan negotiations, and LC/BG handling, enhancing financial liquidity.

Led import and export documentation and customs procedures, streamlining processes and ensuring compliance with international trade regulations.

Managed statutory compliance for Central Excise, Sales Tax, and Income Tax, ensuring timely filings and adherence to regulatory requirements.

Conducted internal audits and controls reviews, identifying potential areas for improvement and implementing corrective measures to safeguard assets.

Hindustan Shipyard Ltd, Visakhapatnam Industrial Trainee, Internal Audit Department Oct 1992 – Oct 1993

Assessed internal controls regarding purchases, sales, cash, bank payments, and fixed assets, enhancing organizational accountability and financial integrity.

Performed periodic audits on inventories and fixed assets, ensuring proper valuation and compliance with financial regulations.

Analyzed variances in inventory and fixed asset valuations, providing insightful feedback to management for strategic decision-making.

EDUCATION

MBA in Banking & Finance Alagappa University

Cost Accountant (Semi-Qualified) Institute of Cost Accountants of India (ICWAI) 1990

Bachelor of Science (B.Sc.) Andhra University 1988

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