Devang Parekh Email & Phone Number

•Providing strategic financial direction & leadership; performing due diligence of company/ processes, steering processes transitions, reengineering existing process, reducing tasks involved & making process lean, resulting in significant savings in man hours & overall cost.•Identifying performance issues within the business and risks/opportunities in current financial plan/forecast; resolving the same by developing and implementing financial trend reports.•Heading finance functions involving determining financial objectives, designing & implementing systems, policies & procedures to facilitate internal financial control.•Strategizing and executing robust procedures and service standards to maintain/enhance productivity, accuracy, and strict adherence to pre-set SLA/TAT.•Extensive working knowledge of IFRS Framework and regulatory compliances; streamlining financial processes through various initiatives geared towards lowering risk, heightening productivity & improving internal financial controls.•Articulate leader with notable success in acting as an effective leader with distinguished capabilities in recruiting, training & motivating a large workforce for accomplishing greater operational efficiency & high-resolution rate in accordance work processes.•Enhancing the working capital cycle and EBITDA margin to boost financial performance.•Fostering a unified team approach across all executive categories.•Implementing real-time online MIS reports for investors, promoters, and senior executives to facilitate informed decision-making.•Monitoring inflow / outflow of funds; taking adequate measures to ensure optimum utilisation of available funds towards the accomplishment of organisational objectives.•Creating business value through technology, ensuring that the tech systems and procedures lead to outcomes in line with company goals; ensuring the availability of timely and reliable information in the organization through technology/digital platforms.

Mumbai, Maharashtra, In

• Conducted review & detailed analysis of cost sheets with the business partners; engaged with internal and statutory auditors to support various audits and internal control requirements.• Played a key role in preparing timely and accurate analyses, summaries, and reports of financial data on the operating progress of the company while managing the company’s compliance with local and regulatory matters.• Developed a review mechanism and monitoring systems for stores.• Formulated the costing structure for effective financial management.

• Evaluated and analyzed investment opportunities and capital projects, pinpointing high-potential ventures that harmonize with the company's strategic objectives, and yielding substantial returns.• Facilitated a Distressed Assets Resolution Plan in coordination with the Assets Reconstruction Company and CMD.

• Analyzed cash flows, including cost booking/accrual and analysis, monitoring the team handling client billings, and recording intercompany entries, revenue recognition.• Successfully raised capital from banks, NBFCs, and financial institutions through skillful negotiation of business and finance deals.• Formulated effective action plans and standard operating processes to ensure the group's smooth cash flow.• Formulated rolling forecasts for cash flow, profit & loss projections for review by management; undertaking risk and return analysis and sensitivity analysis for the short and long-term.• Enhanced business processes and procedures by collaborating with external auditors and initiating continuous improvement initiatives. • Implemented cost-reduction strategies resulting in heightened operational efficiency and financial performance.

• Successfully implemented change management strategies.• Rendered assistance to managers and business owners in enhancing financial health through improvements in staff productivity, inventory cycle/debtors collection, production efficiency, sales, and business diversification

• Established an IT-enabled company in corporate auditing.• Successfully signed off on financials of listed companies, including Alok Industries Limited (T/O of around Rs. 10,000 crore) with BIG4.• Focused on risk-based audit strategies utilizing global IT tools & technologies, similar to those employed by Fortune 500 firms.• Advocated companies for transition to ERP to attain systematic corporate growth

• Raised over Rs. 1300 crores in funding from banks for various clients.• Led a team of 60 executives and professionals engaged in bank audit and corporate finance projects with 25+ banks

• Piloting the overall business process transformation for attaining enterprise objective and required growth with the deployment of planned strategies; providing financial and business management leadership that facilitates growth • Monitoring and analyzing business-wise profitability on a monthly basis and recommending the areas of potential cost-savings along with financial cost benefit analysis and summary of key non-financial factors• Coordinating & consolidating the fund requirements for the Co. and managing the consolidation of budgets • Monitoring the submission of monthly accounts of the Co. to the Investors on the deadline dates as set out in the Corporate calendar• Conducting business reviews weekly / monthly within the BU & quarterly reviews with corporate• Identifying innovative means to fund financial needs of the organization at difficult times as well as transforming the entire working capital cycle

Chartered Accountant

Bachelor'S Degree, Business/Commerce, General

High School