Bhavesh Khakhkhar
Dubai
Summary
Talented financial leader well-versed in accounting principles and regulations. Motivated to keep company financial operations compliant, accurate and cost-effective. Ready to bring17+ years of experience and take on challenging new role.
Overview
15
15
years of professional experience
Work History
Finance and Commercial Controller
Expro
06.2022 - Current
- Enhanced financial reporting accuracy by streamlining accounting processes and implementing internal controls.
- Increased cash flow by diligently managing accounts receivable and implementing effective collection strategies.
- Ensured timely financial statement preparation, allowing for better decision-making and strategic planning.
- Managed budgeting process, aligning departmental budgets with organizational goals and monitoring performance against targets.
- Collaborated with cross-functional project teams to meticulously plan and execute project budgets, involving the establishment of target costs, AFE setup, and creation of reporting spreadsheets.
- Monitored ongoing project expenditures against budget, identifying variances and comprehending the underlying reasons. Reviewed project manager plans and forecasts as necessary.
- Provided leadership and support to the finance team in accounting and reporting development.
- Conducted detailed reviews of customer and supplier contracts, facilitating effective communication with various departments.
- Managed databases and reporting systems for various benchmarking analyses and business Key Performance Indicators (KPIs).
- Liaised with auditors for Internal audit, annual audit, SOX audit, and special audits, meeting their specific requirements.
- Established, reviewed, and managed internal controls, ensuring regulatory compliance.
- Evaluated commercial terms of tenders and engaged with the Bid Team to explore potential alternatives.
- Completed BER (Bid Evaluation Report) with team input on market-tolerant revenues, Total Installed Cost (TIC), and related aspects.
Senior ERP Analyst
Frank's International/Expro
12.2019 - 06.2022
- Collaborated closely with the ERP implementation partner and Business Systems teams to determine the optimal configuration of the ERP system, aligning it with the specific requirements of the business.
- Worked alongside business stakeholders to gather and define comprehensive requirements, identifying any existing gaps in the system.
- Played a key role in translating business requirements into technical solutions, working closely with the Business Systems team to implement enhancements and fixes to the ERP system.
- Conducted thorough validation of software quality, ensuring adherence to specifications and business requirements through unit and functional testing. Identified root causes of defects and collaborated on effective resolutions.
- Developed test conditions and testing plans, ensuring the completion of corresponding program documentation for clear and comprehensive records.
- Led the testing and validation of data migration tasks, ensuring the completeness and accuracy of transferred data.
- Served as a subject matter expert, supporting and facilitating cultural changes resulting from the ERP implementation project.
- Developed training materials in collaboration with the implementation partner, ensuring alignment with business needs.
- Acquired expertise to become a trained 'Trainer' for end-users, effectively delivering training sessions and providing ongoing support.
Director of Finance and Shared Services
Frank's International/Expro
11.2011 - 12.2019
- Spearheaded the preparation and active participation in budgeting, forecasting, and financial analysis, ensuring strategic alignment with organizational goals.
- Successfully finalized and implemented accounting policies and procedures, enhancing overall financial governance.
- Managed end-to-end accounting and financial operations for 25 countries across the Middle East, Africa, and Asia-Pacific, overseeing Accounts Payable, Receivable, Treasury, and Intercompany transactions.
- Led the establishment and closure of entities and branches, streamlining processes for efficient operations.
- Negotiated bank guarantees and margins, optimizing financial arrangements with banking partners.
- Ensured the accuracy of financial statements in compliance with both US GAAP and Dutch GAAP standards.
- Reviewed customer and supplier contracts, collaborating with legal teams to mitigate risks and enhance contractual clarity.
- Conducted negotiations for pricing with suppliers and service providers, optimizing cost structures.
- Verified and facilitated payroll processes for the Middle East and African countries, ensuring accuracy and compliance.
- Managed company-owned and leased properties, overseeing related financial transactions.
- Provided leadership, support, and training to the finance team, fostering professional development in accounting and reporting.
- Effectively controlled and closed the books of accounts on a monthly basis, ensuring financial integrity.
- Managed databases and reporting systems for various benchmarking analyses and Key Performance Indicators (KPIs).
- Liaised with auditors for Internal audits, annual audits, SOX audits, special audits, and investigations, ensuring compliance with regulatory standards.
- Set up, reviewed, and managed internal controls, enhancing overall financial governance and risk management.
- Maintained effective communication with stakeholders at the country, regional, and global levels, facilitating financial control and business analysis. Addressed needs and provided necessary financial data to support decision-making.
Group Finance Manager
BinHendi Enterprises
02.2009 - 11.2011
- Led the preparation and management of comprehensive financial outlooks and forecasts, providing critical insights for strategic decision-making.
- Prepared detailed financial analyses for contract negotiations and product investment decisions, supporting key business initiatives.
- Directed and coordinated the company's financial planning and budget management functions, ensuring alignment with organizational objectives.
- Monitored and analyzed monthly operating results against budget, implementing corrective actions when necessary to optimize financial performance.
- Established and implemented short- and long-range goals, objectives, policies, and operating procedures for the finance department, fostering efficiency and accountability.
- Oversaw financial audits, actively participating in audit processes, and provided recommendations for procedural improvements.
- Acted as a key liaison with external and internal auditors, facilitating seamless communication and providing necessary details to ensure timely and efficient audits.
- Recommended benchmarks for measuring financial and operating performance across divisions and departments, enhancing performance evaluation processes.
- Managed the day-to-day operations of the accounts and finance department, ensuring smooth and efficient financial processes.
- Oversaw the management of Accounts Receivables, Payables, Cash, and Payroll, ensuring accuracy and compliance with financial regulations.
- Conducted negotiations with creditors, optimizing financial terms and fostering positive working relationships.
Education
Chartered Accountant - Accounting
The Institute of Chartered Accountants of India
Ahmedabad, India05.2008
Master of Commerce - Accounting
Gujarat University
Ahmedabad, India04.2007
Diploma in Computer Application - Computer Software And Media Applications
Cohesion Institute
Ahmedabad, India03.2003
Skills
- Financial statement preparation and review
- Financial Planning, Forecasting and Reporting
- Treasury and Working Capital Management
- Internal Control Management
- ERP Implementation and Migration
- Policy Planning and implementation
- Bidding evaluation for new projects
Accomplishments
- Effectively managed 22 different legal entities and led a team of 24 direct reports, ensuring seamless financial operations.
- Achieved a cost-saving of AED 12M within a year through strategic discounts, negotiations, and the effective utilization of internal resources.
- Successfully managed shared services, achieving a 50% reduction in manpower while maintaining operational excellence.
- Orchestrated the sale of real estate totaling AED 50M and oversaw the maintenance of 45 leased properties.
- Executed a strategic restructuring of the company, involving 40,000 assets valued at AED 1,500M, resulting in significant tax benefits.
- Spearheaded the elimination of manual banking processes, leading to substantial cost and time savings while enhancing control measures.
- Successfully implemented new systems such as inventory tracking, requisition and PO, Microsoft Dynamics D365, and established policies for Petty Cash, Treasury, Requisition, Delegation of Authorities, and Capital Expenditure.
Timeline
Finance and Commercial Controller
Expro
06.2022 - Current
Senior ERP Analyst
Frank's International/Expro
12.2019 - 06.2022
Director of Finance and Shared Services
Frank's International/Expro
11.2011 - 12.2019
Group Finance Manager
BinHendi Enterprises
02.2009 - 11.2011
Chartered Accountant - Accounting
The Institute of Chartered Accountants of India
Master of Commerce - Accounting
Gujarat University
Diploma in Computer Application - Computer Software And Media Applications
Cohesion Institute
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