RAMACHANDRA MOHAN BHAT
+968 92020124
Enterprising finance leader with 25+ years’ expertise in driving strategic financial planning, fund management, operational excellence and digital transformation. Elevating financial operations through accountability, cutting-edge solutions and masterful team leadership.
Core Competencies
Strategic Financial Planning & Control
Budget Management & Control
System Implementation
ERP Implementation & Management
Financial Modeling
Financial System Optimization
Financial Closures & Reporting
Operational Excellence
Fund Sourcing & Management
Digital Transformation
Governance & Compliance
Risk Management
Leadership & Team Building
Soft Skills
Communicator
Change Agent
Collaborator
Planner
Thinker
Innovator
Technical Skills
JD Edwards 9.2 ERP
Microsoft Dynamics ERP
SAP Success Factors
Focus ERP
MS Office 365
Education
1997: Chartered Accountant (FCA) from Institute of Chartered Accountants of India, New Delhi
1991: Bachelor of Commerce (B.Com) from Christ College, Bangalore
Personal Details
Date of Birth: 22nd May 1971
Nationality: Indian
Fluency in: English, Arabic (Basic), Hindi, Konkani, and Kannada
Address: Mumtaz Residency, Ruwi, Muscat, Sultanate of Oman
Driving License: Oman and India
Oman Residency: Till June 2024
Profile Summary
A Chartered Accountant offering over 25 years of rich and extensive expertise in Strategic Financial Planning, Budget Management and Control, Financial Closure and Reporting, Fund Sourcing and Management, System Implementation, Digital Transformation, ERP Management etc., across diversified industries.
Highly skilled in spearheading multi-faceted functions of Operational Finance i.e. Accounts Payable, Accounts Receivable, Payroll, Cash and Bank, Financial Book Closures, MIS and Finance Reporting, ensuring seamless financial operations and compliance with regulatory standards.
Successfully implemented cutting-edge ERP systems and innovative management control, actively engaging in process enhancements to optimize checks, controls, and operational efficiency.
Notable success in driving strategic planning, financial management, acquisitions etc., to achieve transformative business outcomes.
Skilled in fostering collaboration with CFO and Senior Management members for the development and management of strategic initiatives, forecasts, business plans, and budgets.
Administering financial accounting operations and team management activities including performance monitoring and defining KPIs while generating MIS reports for the senior management.
Insightful exposure in driving business growth & long-term expansion plans, due diligence, cost reduction initiatives through proper internal control, process improvements, productivity, and resource management.
Notable Accomplishments Across The Career
Recognized for driving significant reduction in monthly financial book closure timelines for Group entities from the 20th to 4th, employing cutting edge process improvements and automation, thereby enhancing accuracy and timelines of Group’s financial reporting.
Revolutionized internal operational and financial reporting through the strategic application of Digital Transformation viz., robotics (RPA) and other automation tools, resulting in substantial process optimization and cost reduction.
Leveraged exceptional skills and conducted in-depth operational analyses to identify and address critical inefficiencies, revenue leakages, optimize costs including product substitution, resulting in enhanced bottom-line performances.
Played a proactive role in the strategic decision-making process by contributing to the evaluation, selection, and successful implementation of an integrated ERP system. Led the team through the entire life cycle of the JDE 9.2 implementation, providing innovative ideas, strategies, and solutions while meeting tight deadlines and preventing anticipated overrun costs.
Successfully oversaw mega capital-intensive projects, directing project modeling, budgeting, contract negotiations, and value engineering exercises, resulting in timely project completion and substantial cost savings exceeding RO 3M equivalent to 12% of the Project cost in a specific project.
Conducted comprehensive reviews of diversified business segments, recommending actionable restructuring initiatives and solutions to improve overall company performance.
Implemented strategic initiatives to enhance cash flows, reduce Daily Sales Outstanding (DSO) balances, and optimize vendor payment cycles, showcasing expertise in streamlining accounts receivable and payable for effective working capital management.
Effectively managed multiple special projects in Finance, IT, Commercial etc., assigned by senior leadership, consistently augmenting the role with strategic value addition and impactful contributionTop of FormBottom of Form
Established a solid reputation for unwavering commitment, dedication, and honesty, earning recognition from company leadership for upholding the highest standards of integrity.
Work Experience
Jul’12 – Present | Renaissance Services SAOG, Sultanate of Oman | Senior Finance Manager
A leading accommodation, services solutions and Integrated Facilities Management (IFM) Company in Sultanate of Oman listed on the Muscat Stock Exchange.
Dec’01 – May’12 | Al-Olayan General Trading Company, Kuwait | Finance & Accounts Manager
A leading Food & Beverages company in Kuwait having major franchises like Cinnabon, Seattle’s Best Coffee, and Schlotzsky’s of USA.
Key Result Areas:
Strategic Financial Planning & Budgetary Control
Leading strategic financial planning and aligning finance functions with corporate objectives, implementing process improvements and automation for timely financial book closure and reporting.
Formulating budgets / forecasts, conducting variance analysis, and proactively initiating corrective measures to adapt to dynamic business changes.
Ensuring transparency, maintaining record integrity, and facilitating effective corporate governance, while ensuring ongoing compliance with finance directives.
Conducting critical in-depth P&L reviews, evaluating and directing cost optimization opportunities, and delivering tangible results that significantly enhanced overall financial performance. Also, instrumental in developing successful financial models for multiple businesses.
System Implementation, MIS, Fund Sourcing & Management
Structuring and designing systems for smooth finance and accounting operations. Strategically evaluating key business functions, processes, and systems to drive improvement leading to cost optimization and enhanced bottom lines results.
Drafting, reviewing and implementation of policies and procedures for finance and supply chain functions for enhanced internal controls and minimized financial risks.
Performing a comprehensive feasibility study of business models for acquisitions and mergers, achieving successful acquisition and divestments at competitive valuations.
Designing and continually customizing advanced MIS reports, directing regular performance reviews to formulate cohesive action plans for continuous improvement.
Secured fund and non-fund based credit facilities at favorable terms in challenging market conditions, effectively addressing working capital and capital-intensive project requirements. Proactively supervised fund flows, ensuring optimal utilization, and identified strategic investment opportunities for surplus funds.
Digital Transformation / ERP
Leading end-to-end implementation life cycle of JD Edwards (JDE) 9.2 ERP system, fostering collaboration with onshore and offshore teams.
Played key role in reviewing, designing, testing, and approving customizations in the JDE Finance module, managing end-user roles and security access and ensuring the ongoing regular execution of System Integrity Reports.
Proactively collaborated with the change management team addressing challenges for a seamless transition to an integrated ERP system.
Achieving complete automation by establishing interfaces between front-office systems, SAP Success Factors, and JDE, significantly reducing processing time and costs.
Initiating impactful process improvements using cutting-edge technology and digital transformations viz Robotic Process Automation (RPA), cloud migration etc., driving efficiency and significant reduction in processing time and costs.
Financial Closure / Reporting / Audit / Tax / People Management
Implementing robust systems for accurate financial recording, reconciliations, and compliance with accounting standards.
Establishing internal controls to safeguard assets, ensuring precise financial records and adherence to Management’s authorization in line with accepted accounting principles and country specific legislations.
Spearheading monthly financial book closure for Group entities, consistently surpassing set timelines, consolidation and reporting of financial accounts in alignment with IFRS.
Preparing and presenting comprehensive financial reports, facilitating informed decision-making for Senior management team / Board.
Ensuring compliance with financial reporting requirements to Stock Exchange, regulatory bodies, and banking institutions within specified deadlines
Collaborating with internal and statutory auditors, ensuring adherence to regulations, and implementing corrective actions based on audit findings for financial compliance.
Showcased proficient understanding in VAT management, ensuring meticulous compliance with current regulations and leveraging technology for streamlined reporting.
Actively participating in the timely filing of Income-Tax returns and continually following up with tax authorities for early completion of assessments.
Leading multiple large finance teams with strong emphasis on team building, providing strategic guidance, mentorship and unwavering support to foster a culture of accountability with performance management KPI’s, accuracy, continuous improvement feedbacks.
Administering scarce resources such as capital, manpower, and time ensuring optimal utilization for sustained departmental success.
Operational Finance / Operational Excellence / Others
Executing proactive customer engagement strategies and closely collaborating with the debt collection team to significantly enhance collections and recover old / sticky receivables, resulting in month-on-month reduction of Days Sales Outstanding (DSO).
Effectively managing Accounts Payable by negotiating with vendors, optimizing credit terms, payment instruments while exercising stringent controls on fund outflow and maintaining liquidity.
Navigating insurance matters, overseeing policy renewals and handling claims while conducting negotiations with service providers to optimize coverage and ensure comprehensive protection of organizational assets, while minimizing premium costs.
Strategically negotiating with multiple external stakeholders such as banks, suppliers, service providers, customers, and consultants, securing favorable terms for the company.
Supervising and controlling the employee payroll process, ensuring timely disbursements.
Devising and implementing effective costing systems to achieve cost control and optimization.
Managing the Supply Chain function and streamlining inventory management systems through initiating controls at various levels.
Reviewing agreements in consultation with legal advisors, providing valuable inputs on legal risks and compliances for informed strategic decision-making by Senior Management
Assuming a pivotal role in the In-Country Value (ICV) and Operational Excellence panel, and fostering insightful discussions, providing valuable suggestions, solutions, and collaborate data collation contributing to management decision-making aligned with strategic objectives. Additionally, as a Sustainability Reporting team member, delivering impactful insights aligning financial data with ESG goals to meet stakeholder expectations.
Liaising with internal functional departments and Corporate Finance on matters related to Corporate Governance, Treasury Investments, Insurance, Risk Management, Sustainability Reporting, ICV Reporting.
Attending seminars and conferences regularly to stay updated with changes in financial regulations, legislations including IFRS, Taxation, and Digital Transformation.
Previous Experience
Jun’00 – Nov’01 | GETIT Yellow Pages (M&N Publications), Bangalore | Internal Audit Manager
Internal Audit / Statutory Compliance
Conducting robust internal audits across diverse branches, presenting insightful reports and strategic recommendations to Audit Committee / Board.
Spearheading a comprehensive study of existing systems, processes, and policies within the finance, accounts and operations departments, proposing impactful changes to rectify shortcomings and drive improvement with efficiency.
Reviewing complex legal agreements and contracts, collaborating with legal experts to fortify the company’s interests and negotiating favorable terms & conditions with stakeholders to secure the company’s interest.
Nov’94 – May’00 | Gnanoba & Bhat, Chartered Accountants, Bangalore | Senior Audit Manager
Audits & Advisory Services
Leading internal and statutory audits for diverse entities, including Government institutions, banks and renowned multinational companies, while proactively engaging with company leadership / Audit Committees to facilitate discussions on audit findings ensuring the implementation of corrective actions.
Spearheading Management Audits and Due Diligence assignments, offering invaluable expertise in enhancing systems, processes, policies, procedures, and internal controls.
Demonstrating proficiency in tax planning, IT return filing and providing strategic advisory services on multifaceted statutes, including PF, ESI, Income Tax, Excise, and the Companies Act.
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