Energetic and enterprising Strategic CFO, with over 20 years of experience overseeing finance strategy, operations, major projects, and commercial performance in Manufacturing, FMCG, Retail, Automotive,Construction, commercial & industrial. A trusted C-suite executive performing commercial & Operational CFO roles and exposed to Company Boards/ Directorships. An empathetic leader with diverse thinking, cultural sensitivity, and open-mindedness, when working with cross-functional local management, international teams, and C-level executives, fosters an open dialogue to drive strategic initiatives. Emotionally intelligent, builds capability and functionality, energizing business environments through: • Providing sharp insights into financial trends and opportunities to drive profitability, overseeing major company decisions, operations, and overall direction. • Leading and engaging with various communications and working styles, organizational structures, navigating internal environments, local customs, cultural nuances, and foreign stakeholders. • Leveraging broad experience in CFO, Legal, Risk, and Audit, and all growth areas including strategy, major projects, M&A, Business Development, and Investor Relations. • Building and developing engaged teams who are goal-focused, and accomplishment driven.I have many achievements in my career, including:• Managed profitable double-digit business growth. Over-exceeding cash flow to EBIT targets.• Improved business reporting and expanded analytical platform. • Develop people strategy to align with organization strategy. Identify skill gaps and develop IDPs to get the best outcome. • Leading digital transformation. Developed HR strategies for retention, recruitment, induction, and performance management. • Deliver operational excellence by eliminating waste, understanding customers, and improving processes.Please feel free to reach out to me directly on prasad828@hotmail.com0459020330
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Fractional CfoHapucfo SolutionsMelbourne, Vic, Au
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Cfo/Director & Company SecretaryDenso Automotive Systems Australia Apr 2023 - PresentCroydon, Victoria, Au -
Chief Financial Officer /Company SecretaryPorta Dec 2018 - Mar 2023Fairfield, Victoria, AuDevelop and execute financial & Operational strategy. Engage with customers and suppliers to grow and protect the company's commercial position. Built a state-of-the-art Sawmill to reduce the cost of production of timber and drive operational excellence by introducing lean thinking. Improve annual sales plan, operational plans, and internal KPIs reporting. Led business transformation and digital transition. Improve the bottom line from single digit to double-digit.Notable Achievements• Increased EBITDA by over 40% in 2021 despite COVID impact• Improved performance reporting in the warehouse. As a result, increase picking rates from 1.2 to 3 bundles per minute. This change improved daily sales by 82K and margins by 34K• Improve business KPI reporting by introducing analytical platforms such as Tableau and Power BI. This improved decision-making and efficiency significantly in the business.• Worked with the marketing team to introduce new product lines to Bunnings utility timber, resulting in a 35% reduction in slow-moving raw material inventory over 3 years. This improved cash flow by $780K in fiscal year 20-21.• Implemented additional training & coaching to improve the performance of staff not meeting KPIs.• Repositioned resources to the Marketing and Customer Service departments and introduced new product lines that increased sales by circa 12%. As a result, we improved new product sales by $840k in FY-20-21• Introduced a new payment authorization matrix and governance around procurement that protected the business.• Improved reporting on Bunning's exit sales connection to the S&P process, allowing Porta to bring excess stock levels down by 11% with a positive impact on cash flow of $7M per annum.• Developed operational plans to onshore products manufactured in Malaysia, with a profit upside of c. $750K p.a. -
Chief Financial OfficerEmpire Consortium Group Pty Ltd Nov 2011 - Nov 2018Melbourne, AuKey strategic business leader in the senior management team, evaluating the organisation's financial performance against the long-term goals, budgets, and forecasts. Identified, acquired, and implemented systems and software that provided critical financial and operational information. Responsible for HR systems and digital transformation. Assessed functions and recommended process automation to increase efficiency. Selected consultants and auditors.Notable Achievements• Increased EBITDA by 25% from FY11 to FY18 • Negotiated a successful outcome with Union officials on major construction site. Completed project with no further disruptions.• Conducted successful tender negotiations with the biggest customer resulting in a +15% construction revenue improvement by becoming the sole subcontractor.• Reduced slow-moving materials by 80% with a positive cash flow impact of around $6M from FY11 to FY18• Established effective procurement and logistics systems and improved SIFOT from 67% to 95% over 3 years. • Introduced wage classification and training matrix, saving over $12K p.a. on casual staff. • Transitioned the company with the acquisition of similar businesses, increasing customers by 40% and improving net profit ratio from 5% to 9%.• Introduced monthly email marketing and sponsored a new website that drove business revenue.• Improved safety standards of the overall business and reduced work cover claims by 90% from FY12 to FY 18. Total savings were $130K. -
Cfo/Group General ManagerPelwatte Sugar Industries Plc Oct 2003 - Feb 2011Led a team of 8 direct reports and a total finance team of 24. Managed company forecasting, financial planning, cash flow control and risk management by analysing liabilities, investments and agricultural outputs. Set up and oversaw the company's finance and IT system. Delivered investment strategies by considering and mitigating cash and liquidity risks and controlled and evaluated fundraising plans and capital structures. Managed vendor relationships with the farming community. Notable Achievements♦ Turned-around low-performing reporting and procurement functions by restructuring the department♦ Improved DIFOT of raw material from 80.8% to 95 % in year 1 and 97% by year 3♦ Launched new sugar cane varieties with the help of an agronomist and improved sugar recovery by 42%♦ Successfully implemented ERP software and process changeover from BAAN to Microsoft Dynamics with zero system downtime and disruption to customers♦ Improved analytical platform that produced more effective information, improving operational efficiency by 35%♦ Increased sugar / alcohol gross margins by 4% / 6% by reducing the cost of production with Lean manufacturing -
Corporate Senior Manager - Assurance And AdvisoryDeloitte & Touche Tomatsu Services Inc Dec 2000 - Sep 2003Operated as a financial and business consultant reviewing financial modelling and participating in business valuations and M&A activities. Undertook business process re-engineering assignments.
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Senior Business Financial AnalystKpmg Jan 1996 - Nov 2000Toronto, On, CaPrepared audit strategies and external audit support and actively participated in all audit activities, including scheduling execution and closeout.
Prasath Hapu Education Details
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Cpa AustraliaCertified Practicing Accountant -
University Of Southern QueenslandMaster’S In Business Administration (Major In Finance)
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CimaCost And Management Accountant Of Uk
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Institute Of Chartered Accountants Of Sri LankaAccounting And Finance
Frequently Asked Questions about Prasath Hapu
What company does Prasath Hapu work for?
Prasath Hapu works for Hapucfo Solutions
What is Prasath Hapu's role at the current company?
Prasath Hapu's current role is Fractional CFO.
What schools did Prasath Hapu attend?
Prasath Hapu attended Cpa Australia, University Of Southern Queensland, Cima, Institute Of Chartered Accountants Of Sri Lanka.
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