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Ix cfo shared cfo services profile-ver.nov.2011

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Shared CFO Services

Shared CFO Services

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  • 1. IxCFO Services P. Ltd. Integrating Xcellence An introduction
  • 2. Our services objectiveTo provide high impact shared CFO services to businesses as one of the key stakeholder, value creator to business and in the processcreating healthy Balance Sheet by leveraging comprehensive tools, domain expertise.
  • 3. Rational & Positioning Shared CFO Services• Business landscape in India, especially in the SME segment, is far wide with lot of hidden jewels & emerging value creators• With acceleration in Indian GDP, many of them are undergoing transformation by tapping capital & strategic resources for their growth. Also, lot of MNC’s are tapping Indian market.• With high influx of sophisticated investors (PE/VC/MNC-JV) in (PE/VC/MNC- these businesses, there is growing need in optimum financial management by migrating via shared CFO to full time CFO• To be partner in this cycle, shared CFO services will play significant role in creating value & vibrant finance role for the business by pooling knowledge, practices & network• To offer services by competitively positioning in terms of best of quality, measurable matrix & value pricingWe provide flexible engagement model by providing seasonedCFO at the right cost
  • 4. Solution & Services offeringsFlexible solution model on the principlesof maximizing impact & minimizing cost weoffer following shared CFO services withunique execution methodology approach byblending people, processes & poweringtechnology• Tx = Transaction Assurance• Fx = Financial Health Management• Ix = Inorganic & Organic Growth Xecution
  • 5. Tx = Transaction Assurance ServicesIntegrated controls & processes set-up set-financial accounting by mapping BU &Support functionsAutomation by adopting various ITTools to enable timely, reliable &accurate month closingWorking with in-house team or partners in-on benchmarked SOP with processes toensure guided financial controlsCreating finance as vibrant & value addfunction to business
  • 6. Fx = Financial Health & Diagnostix Diagnostix Management• Creating robust management accounting system to capture the business results, by accessing intelligent data & respond quickly based on development of sound decision support system• Managing treasury, collection, banking functions with strong linkages to cash flow & financial supply chain• Capturing inherent risk & mitigating risk factors in operational, business plan of the business with regular rolling budget & outlook, internal audit/due diligence mechanism by laying emphasis on good corporate governance practices across the Organisation
  • 7. Ix = Inorganic & Organic Growth Xecution ServicesWorking out strategic avenues & framework byunderstanding drivers of growth & executing either ofthe following -• M&A assistance /Funding mix optimisation• Strategic Investments (e.g. Private Equity Capital)• JV Partner induction /Sourcing advisory• Corporate restructuring/TurnaroundLeading to multiplier (X) impact on business growth
  • 8. IxCFO Best PracticesCore of i – Integrity – Intelligence – InnovationApplying Xcellence in – Knowledge Management – Benchmarking practices – High degree of ethicsConvergence of above at the core with unique execution& proprietory Ix engagement model of People, Processes andhands on approach with our clients AND Powering domainexpertise & technology.
  • 9. Team IxCFO• Sanjay S. Gaggar – ACA & ACS, Founder Partner• Ashok Biyani – ACA & CTM, Managing Partner• Vinod Jadhwani – AICWA, Managing Partner• All team members are carrying rich & diverse experience of 10-18 years in Corporate sector with 10- MNC’s, Domestic Large/SME (Established & First generation) segment covering entire gamut of controller function BY adopting best of management practices + capability to deliver benchmark finance parameters.• We have associate partners & we only bring the experienced qualified professionals to ramp up team at any time.• We are also connected with professional network of Advisors.
  • 10. Sanjay Gaggar – Founder Partner DESCRIPTION OF PROFESSIONAL EXPERIENCE Sanjay joined Hurix in Aug.2006 – A venture promoted by first generation entrepreneur -IIM Graduates and PE fund in e-learning & e-publishing domain under IT/ITeS space in the year 2002. Company has revenue base of Rs.60 cr. with 700+ Associates across US & India. During his tint of 4 years (at present he has been retained as shared CFO) he handled entire gamut of finance, management accounting, legal/compliance & facilities management function. Led the Education Series A & Series B round funding coupled with strategic restructuring of business. Raised workingMumbai University, R.A.Podar College capital limit in aggregate of US$5 million to optimize finance supply chain cycle. Built robust internal controls & management accounting system across all BU/Support functions leading to significantQualified Chartered Accountant – ICAI &Company Secretary - ICSI improvement in flow of information helping management in decision making process on operational & business front. This was achieved with integration of financial & project management accounting IT platform. Directly responsible in managing relationship with investor & instrumental in giving Prior work Experience (15+ years) strategic input on business direction & financial management to the Board. Also involved inHurix Systems P.Ltd. & Its subsidiary Ltd. managing relationships with customers on building Joint Venture (HCL –Indian school market) , - AVP (Finance) & Company Secretary Controlling project pricing & defining collection norms with an eye to forex exposure. Planned 3-5Brightstar India P.Ltd. Ltd. year approach on business migration from STPI to SEZ & led the first investment in SEEPZ-SEZ - Head Finance development centre of 200 seats bringing tax, overhead saving & capital appreciation in books.Lexmark International India Ltd. Ltd. - Manager ( Finance & Logistics)Nexgeniz India P.Ltd. Ltd. Had introduced CRISP (Cost Reduction & Increasing Sales, Productivity) initiative across BU Heads - Manager (Finance) & Company & Sales/Support function heads. This led to increase in gross margin by 5% p.a. and reduction in Secretary overheads per seat cost by 8% p.a. with robust cash flow & financial supply chain management.Vlafinn Financials P.Ltd. Ltd. - Sr.Manager (Market Operations) Sr. During his earlier tenure with MNC’s - Brightstar & Lexmark for around 4 years working with cross- border management tram for Indian operations – Involved & leading setting up facilities for captive IT centre, logistics/supply-chain management for countrywide distribution of products, setting up Personal financial/management accounting & framed transfer pricing norms on cross-border internationalLanguages: English / Hindi/Gujrati/Marathi transactions as per the tax law/DTAA.Residence: Mumbai, India Prior to this he was associated with Nexgeinx US– IT Off-shore centre – 300 people set-up @ Contact SEEPZ-SEZ. Was also involved in setting up NSE operations with Valfin for its maiden stockEmail – sanjay.gaggar@ixcfo.com broking venture in India during his first stint after qualification.Mobile - +91 98675 55852
  • 11. Ashok Biyani – Managing Partner DESCRIPTION OF PROFESSIONAL EXPERIENCE Ashok joined Topsgrup in Sept 2008 – a leading service provider in the Security industry in India chaired by a young entrepreneur having global recognition. At present, the group has revenue base of Rs.850 cr. with more than 50,000 Associates across UK & India. During his tenure 1.5 years (he is still there now as shared CFO) so far he has handled entire Education gamut of finance, management accounting, legal/compliance & consolidation process. RaisedMumbai University, Mithibai College acquisition financing and working capital limit in aggregate of US$20 million to finance foreignQualified Chartered Accountant – ICAI & acquisition and working capital cycle in India operations. Key facilitator in managing relationshipCertified Treasury Manager - ICFAI with PE investors & instrumental in giving strategic input on business direction & financial management to the Board. Designed business plan for integrating the acquired companies into the overall group objectives. Leading the implementation of ERP system in the group to build Prior work Experience (12+ years) robust internal controls & management accounting system across all BU/Support functions andTops Security Limited. & Its subsidiary to significantly improve the flow of information helping management in decision making process - Chief Financial Officer on operational & business front. Managed a team size of 100+ staff under F&A function spread across India.DHL Global Management GmbH, Germany. Defined a clear process on credit control, for the first time in the group, setting up the team - Controller – Transfer Pricing across India and KRA based approach with target reduction of DSO from current level of 130DHL Express (India) Private Limited. days down to 60 days. - Financial Accountant During his earlier tenure with DHL in Germany for around 3 years, he was working with costingRSM & Co., Chartered Accountants and management accounting team across the globe. He was instrumental in developing a key - Asst Manager (Attestation) profitability matrix of product / lane profitability at global level, which was used for capital market reviews. Based on this experience, he was included in the global team for setting up new Personal costing tool integrating the global finance and operational database.Languages: English / Hindi/Gujrati/MarathiResidence: Mumbai, India While in DHL India, Ashok managed the key reporting deliverables at pre-defined calendar from DHL’s global reporting team. In India, he managed to work upon certain critical factors that Contact swung the Income Tax and Transfer Pricing assessments in the Company’s favor. He also playedEmail – ashok.biyani@ixcfo.com supportive role in the entire credit control activities consistently maintaining the DSO below 30 days and winning the Asia Pacific award for DSO management in 3 consecutive years.Mobile - +91 99308 40248
  • 12. Vinod Jadhvani – Managing Partner DESCRIPTION OF PROFESSIONAL EXPERIENCE Vinod served as Financial Consultant for Hurix Systems Pvt Ltd. In this role he was looking after the entire Finance & Accounts operations at their Chennai office and liasioning with their Mumbai office.These include Accounts Payable, Service Tax, Income Tax, Statutory Education Compliances,Internal & Statutory Audits,Budgeting and MIS.•Mumbai University, R A Podar College•Qualified Cost Accountant –AICWAI Having a rich corporate experience spanning for more than 18 years in the varied sectors which include Manufacturing,Trading,Retail & Automotive.During his illustrious career with MNCs and Indian organisations,he has handled the entire Accounting and Finance function which Prior work Experience (15+ years) comprised of Accounts Hygiene,Auditing,MIS,Banking,Taxation,Budgeting and Working CapitalHurix Systems Pvt Ltd Management.His significant achievements have been reducing the Working Capital Cycle from - Financial Consultant 110 days to 85 days in 2 years tenure with Adani Enterprises Ltd.He was chosen by theL T Foods Ltd management to be the core team member for the ERP Implementation at ICI India Ltd. - AGM – Accounts & Finance Defined a clear process on credit control in L T Foods which resulted in reducing the DSO fromNissan Motor India Pvt Ltd 90 days to 60 days in a year’s time. - Sr. Manager – Accounts & Finance During his earlier tenure with ICI India Ltd,he was instrumental in completing the InternationalAdani Enterprise Limited. and National MIS within the given stiff deadline dates.Besides he was responsible for timely - Manager – Accounts & Finance audits,statutory compliances,Annual Budgeting exercise. The highlight in ICI India Ltd wasICI India Limited ensuring the smooth transition from the legacy “Tally” accounting system to the ERP based - Asst Manager – Accounts & Finance system, ”Orion”. Personal During his tenure with Nissan Motors,which was at a start up stage,he was instrumental inLanguages: English / Hindi/Sindhi designing the entire Accounting System which included writing the SOPs for the Accounts &Residence: Navi Mumbai, India Finance deptt. He built the entire Accounts Team from the beginning. ContactEmail – vinod.jadhvani@ixcfo.comMobile - +91 98700 61308
  • 13. Our AssociationOur approach to the assignment is customer centric with flexibilityof associating with the existing team members of the Oganisation and/ or introducing our associates for activities that are not core to thebusiness or inadequate skill set within OrganisationWe have partnered with professionals capable of managing Payrollprocesses, A/P & A/R outsourcing, MIS builders, specialised direct& indirect tax experts, IT implementation partners, InvestmentBankers, IPO experts etc.Some of our associates are – (Not the exhaustive list) Astral IT Services
  • 14. Clients & Mandates• Since our inception beginning October 2010, we have seen quarter on quarter growth in our clients & mandates as shared CFO retainer or specialised mandates• We have Clients across Industries like IT/ITES, Education & vocational training, Logistics & Supply chain, Solar energy, Infrastructure, Private equity business, Food & QSR, Security services, Healthcare – Clinical research outsourcing etc.• All these clients are having revenue in the range from Rs.10 cr. to Rs.100 cr. & we are offering mandate based shared CFO services or supplementing with specialized assignments on their Inorganic & Organic growth requirements.• We are guided by confidentiality agreement with our client and will be happy to provide list of these clients as & when require, only when our mandate comes to signing stage with our prospective clients.
  • 15. Case Study – Company A Financial parameters changed reflected over 3 year Financial & Year 2006-07 Year 2008-09 Compounded Reasons & Impact IT Closing Closing average annual Parameters (Unaud/Est.) growth/reductionGross Margin of 43.48% 52.79% 3.96% p.a. Improved productivity,Services BU cost reduction, revamped operation IT system to monitor OperationsOverheads per Rs.16,954 Rs.11,037 -8.23 % p.a. Better controls,seat (Minus – sign is good processes & innovation in indicator cost reductionDSO (No. of 133 Days 57 Days -15.62% p.a. Worked with BU & SalesDays) (Minus – sign is good on contracts, milestones, indicator) RR systems & follow-upBanking & 3.00 Cr. 18 Cr. 41.47% p.a. Negotiated hard withWorking Capital Bankers to optimise WCLimits & Forex hedging.IT Platforms Very raw Robust Financial Significant impact on Lead to better business financial & & Operating IT governance & levers grip, better operational ERP platform – financial controls business analytics & in place Timely decision with timely closing & decision making support. support system alignment to 1 cycle.
  • 16. Case Study – Company B Process improvements in past 2 yearsIntroduction of JD Edwards – big move in accounting processes from Tallywith spread across 40+ branches in IndiaLeakages in Revenue plugged with introduction of customer acceptance andelectronic submission of invoices.Developed collection trend report leading to improvement in collection%age from 45% to 53% within 30 days of billing and overall collectionincreased from 85-87% to 95-97% 85- 95-Introduced performance matrix for new contracts / sales till incrementalEBIDTA contributionHigh level of reporting initiated for the investors in respect of performancemanagement, cash flows, collection reporting, IT implementation, etcF&A head count reduced by 15% converting in cost savings of Rs. 50 lacsannually
  • 17. Company C & D Process improvements in 6 monthsIntroduction of reporting MIS across BU and Support functions creatingoperation review framework and addressing profitability concerns andincentive matrix.Introduced stock count at very month covering all items at quarter end andageing analysis of receivables on fortnight basis with control on cashcollection & receivables.Introduced robust internal audit scoping and built checks and control onsignificant items of assets which require close monitoring.Prepared forward cover policy on foreign currency and negotiated facility onbanking & NBFC on capex and working capital loan.
  • 18. Contact• Web & online presence – www.ixcfo.com• Inquiry E-Mail – info@ixcfo.com• We already have established well qualified CFO’s (Associate Executive Partner) & having trained them in our execution engagement framework across all major metro/tier-2 Cities across India.• Currently we have mandates in Mumbai, Pune & Delhi.• We operate via our leased business centre (whenever needed) or from Clients site at present to give better geographical reach for meeting/trainings etc.
  • 19. THANK YOU