Venkata Madhavarao Sunku

Accounts Receivable Manager, 03/2018 - Current

Mai Dubai LLC, Dubai, UAE

Professional Summary

Experienced professional with 10 years of expertise in accounts receivables, inventory controls, and SAP implementation. Skilled in optimizing cash flows, improving credit management, and streamlining accounts receivable processes. Proven track record of successful ERP system implementation, particularly SAP B1 and SAP S4 Hana to enhance operational efficiency. Strong background in inventory management with a focus on accuracy, cost control, and integration with financial processes.

Accounts Receivable Management:

· Led a team of accounts receivable in the management of the company's receivables, ensuring timely and accurate invoicing, collections, and reporting.

· Monitoring aging reports to identify overdue accounts and implementing strategies to reduce delinquency.

· Ensuring the accuracy of all customersbilling and resolved discrepancies between customer accounts and receivable balances.

· Process Improvement:

Streamlining and improving processes related to invoicing, collections, and payment reconciliations to increase operational efficiency and to reduce outstanding balances.
Implementing best practices for credit control and collections, resulting in a significant reduction in days sales outstanding (DSO).
Utilizing automated tools and ERP systems to improve workflow and reduce manual errors.

· Team Leadership and Collaboration:

Mentoring, and supervising a team of accounts receivable staff, fostering a culture of teamwork, accountability, and continuous improvement.
Collaborating with the sales, customer service, and finance teams to resolve issues, improve cash flows and maintain customer satisfaction.

· Reporting and Financial Analysis:

Preparing regular reports on accounts receivables performance, including aging reports and collections performance.
Analyzing trends and identifying opportunities for improvement in cash management and credit risk.

· Compliance and Risk Management:

Ensuring adherence to company policies, industry standards, and legal requirements related to accounts receivables.
Evaluating creditworthiness of new customers and recommending credit terms to mitigate financial risk.

Asst Manager AR 01/2014 – 03/2018

Mai Dubai LLC, Dubai, UAE

· Played a key role in establishing the foundational finance processes and systems for the company from its inception.

· Contributed to the setup and configuration of the Chart of Accounts, ensuring alignment with company goals and regulatory requirements.

· Led the implementation of the Asset Management Module, overseeing the accurate tracking and reporting of company assets.

· Managed the Accounts Receivable and Accounts Payable processes, optimizing workflows for efficiency and compliance.

· Spearheaded the development and execution of the Payroll Process, ensuring timely and accurate employee compensation.

· Involved in the creation of Bills of Materials (BOM) to support efficient inventory management and production planning.

· Played a key role in the implementation of the VAN Sales System and its seamless integration with the ERP system

· Responsible for reconciling VAN Sales and ERP sales postings, ensuring accurate and timely alignment of financial records.

· Managed the postings of receipts for customer collections, including cheques, cash, and bank transfers, maintaining accurate records of all transactions.

· Conducted customer reconciliations to ensure accuracy in accounts and resolve discrepancies efficiently.

· Performed Bank Reconciliation Statements (BRS) regularly to ensure accurate reflection of cash flows and account balances.

· Administered customer rebates and ensured proper accounting for bad debt provisions, adhering to company policies and accounting standards.

· Analyzed aging reports in collaboration with the sales team to proactively manage outstanding balances, reduce Days Sales Outstanding (DSO), and improve cash flow.

· Provided comprehensive support to auditors by delivering the Trial Balance, addressing queries, and supplying necessary schedules and documentation to ensure a smooth and timely closing of books of accounts

Senior accountant, 01/2009 - 01/2014

Masafi LLC

· Processed and verified vendor invoices, ensuring accuracy, compliance with company policies, and proper coding to appropriate accounts.

· Coordinated and processed timely payments to vendors through checks and wire payments, ensuring adherence to payment terms/

· Reconciled accounts payable ledger with general ledger and vendor statements on a monthly basis, identifying and resolving discrepancies to ensure accurate financial reporting.

· Supported the month-end and year-end close processes by preparing accounts payable accruals, journal entries, and reports.

· Provided necessary documentation and support during internal and external audits, ensuring accurate and timely resolution of audit findings related to accounts payable.

· Collaborated with cross-functional teams (e.g., procurement, finance) to resolve payment issues and ensure smooth accounts payable operations. Trained junior staff on AP processes and best practices.

· Accurately managed the end-to-end accounts payable process, ensuring timely and error-free processing of vendor invoices and payments.

· reconciliation of prepaid expenses, ensuring accurate allocation, tracking, and reporting to Line Manager

· Managed end-to-end payroll processing for staff using Oracle HRMs and Payroll systems, ensuring accuracy and compliance with company policies and labor regulations.

· Designed and implemented monthly sales incentive calculations, ensuring timely and error-free payouts aligned with performance metrics.

· Administered the processing of End of Service Benefits (EOSB) in accordance with labor laws and organizational guidelines, maintaining precision and employee satisfaction.

Conducted monthly payroll-related account reconciliations, preparing detailed audit reports to support financial transparency and compliance.