Venugopal Pai Email & Phone Number

Pune, Mh, In

Pune, Maharashtra, India

Working as a Senior Manager Finance, handling Revenue assurance team along with COGS and inventory accounting, Royalty end to end accounting/reporting under ASC 606 cost to contract, NCR Spare part inventory exposure of $15M, AR/PO/COGS module close & CFO Quarterly deck for Management, program for Complex Deferred GL reconciliations, Audit PBC, P&L and Balance sheet flux review.

Pune, Maharashtra, India

Joined Veritas as a Manager for Revenue Assurance team managing global revenue operations from Pune. Handling Above scope deal, credit memo Analysis, VSOE/SSP Analysis, FV calculation, AR Reserves, statutory compliance, Quarterly/yearly Audit, and Rebate/Commission cost to contract under ASC 606.Nature of work handled• Resources planning, team hiring, transitioning and training a new team of analysts.• Leading the Revenue functions from Pune by ensuring worldwide revenue assurance as per guidance of US GAAP (ASC 606/605, EITF 08-1, SOP 97-2), own the process of deal scoping, above scope deal review, $250K Deal Packs for review and external audit for Credit memo and Low dollar contracts (in dual accounting under ASC605 and ASC 606).• Overseeing the global Fair Value SSP study for deriving yearly SSP percentage, EY audit support for Non-GAAP study, quarterly workaround for RMA reserve under ASC 606 variable consideration.• Coordinating both internal and external reporting schedules, audit support for PBC review of internal control for royalty, AR and Inventory functions.• Exposure in company’s adoption of ASC 606 framework including migration of RevPro 2.4 to 3.6, cutover testing, UAT for ASC606 and RevPro migration to cloud.• Review of high-risk Balance Sheet Reconciliations of Deferred Revenue Accounts monthly as required for SOX compliance and ensure all open items are cleared on a timely manner.• Managing the COGS, Inventory team and transitioned spare part accounting roles to Pune.• Additional responsibility with Royalty accounting and AR function for global operation.• Prepare & review Revenue accrual/Deferral Journals as per Revenue Recognition Policy & Thresholds.• Quarterly Review Internal control for Revenue reserve, P&L and balance sheet flux for Mgt team.• Monthly calls with US Counterpart to discuss the team’s performance vis-à-vis SLAs and balance scorecard.

Bangalore Urban, Karnataka, India

Worked as a Senior Lead Financial Analyst with HPE, handling HPE large contracts, managing ITO and Application business portfolio of over $100MM, global P&L for execution strategy, plan and managing resources / costs / risks / metrics / tracking / reporting.Nature of work handled• In depth knowledge of Flash/Forecast process for Revenue, expenses and Headcount.• Consolidating the regional P&L for complex verticals under ITO & APPS business for American Region.• Provide Forecast guidelines to Business in order to run the business per corporate guidelines and involved in building the pricing modules for transforming the new / renewal of large contracts.• Work closely with Leadership team to provide an in-depth business analysis, KPI Analysis, Revenue assurance as per the ASC 605/606 framework, Provide data deck to Monthly/Quarterly Business reviews.• Responsible for Achieving million-dollar cost saving to overall IT budget by cost Envelope Plan.• Labor data Analysis involving utilization, Onsite Offshore Mix, Pyramid mix etc to ascertain the Revenue, Cost and Margin.• Lead complex financial and pricing analysis to support business execution while identifying key recommendations and insights to improve revenue and margin for any new appliance deals.• Define and manage overall Financial planning, program governance, execution strategy and plan. • Financial review for various capabilities and P&L margin with regional head and reporting monthly financial with variance.• Preparation, analysis & consolidation of forecast for capabilities, financial bridges clearly articulating key business drivers behind variances Vs budget, prior Flash / Year on Year and quarterly comparisons.

Bangalore Urban, Karnataka, India

Worked as Corporate Finance Manager – Controllership in Wipro Limited, handling corporate accounts for Wipro Technologies. Nature of work handled• Handling the corporate accounting and monitoring the timely completion of deliverable.• Responsible for P&L and balance sheet including application of accounting GAAP and IFRS for expense provision thereby responsible for ensuring internal controls in Employee Cost of Wipro Technologies.• Audit Closure - Local Statutory Auditors, SOX Process Regulatory Audits, addressing audit procedures & queries, system walk- throughs, end to end support, substantiations, ensuring timely audits closure within a tight deadline.• Financial review for various ledger accounts and reporting month end financial including all subsidiaries of Wipro technologies.• Process health upkeep through identification of inherent vulnerabilities and mitigating controls by centralizing the process for subsidiaries at Controllership.• Process simplification and de-skilling of SOX operation, Designing Internal Control Environment.• Preparation of monthly variance analysis for various employee related cost and open line item schedules for liability by closely working with actuary and various trust accounts.• Monthly Incentive Provisioning, Subcon Provisioning & Reversal automation done in SAP.• Reviewing contingent liability at corporate level and creating necessary provisions and reporting.

Bangalore Urban, Karnataka, India

Worked as an Assistant Manager, Business Finance handling the US operation in MetricStream Inc, a US based GRC Software Company,Nature of work handled• Handling onsite migration of Finance and Revenue process from HQ in California US..• Managing US operations of Revenue recognition as per US GAAP and MIS, cash management operation of account receivable team for invoicing and collection, Revenue Recognition in multiple software products like License software, Hosting contract, SOW contracts, Support & Maintenance renewals under ASC 985-605 and determining the fair value under VSOE. • Handling contract management and coordinating with Sales & Project team to finalize legally binding contracts, helping sales for reviewing the new customer NDA agreement & finalizing the RFP with supporting document.• Implemented Microsoft Dynamic into Finance and project accounting by migrating Finance, project accounting and Revenue functions successfully. • In-charge of completion of statutory audit and other due diligence for entire revenue and AR functions• Finalized the Books of accounts, provided reports to CFO & Bank as per statutory requirement along with deferral schedules AR aging report and other statutory certificates.• Handled new entity registration & incorporation of subsidiary in UK. Involvement in M&A due diligence for fund raising.• Providing monthly forecast to the management and coordinating with sales for new deals.• Working with consulting team for managing the project and helping with difference analysis on project cost and revenue. This in turn helps the PM to achieve the target.• Coordinating with PMO and PM’s to update the billing rule for invoicing and monitoring the budget as per the signing and backlog with customer contract on different projects.• Helping the CFO on asset acquisition and valuation by working with valuation team for analyzing the product life cycle, revenue cost and GP projection on NPV method for capitalizing the asset.

Bangalore Urban, Karnataka, India

Worked as an Assistant Manager Finance and Planning for IBM GBS Internal Accounts with FP&A team.Nature of work handled• Handled onsite US transition of migrating large contract deals of Finance and planning analysis process for AT&T ADM contract under communication sector in GBS FP&A.• As an AT&T Lead FA, responsible for revenue, deliverables of team including SLA, TAT, timely execution & communication of MPR reports to the Line team/counterparts.• Worked on IBM large contract planning and Forecast on revenue recognition under US GAAP. Preparing Variance analysis and Reviewing with FSM for enlarging and pointing the business growth on end to end basis.• Handled the monthly activity to close the ledger and worked on financial actual as Individual contributor supporting end to end. Provided inputs and guidance on revenue recognition for SOW contracts.• Preparation of Utilization report through coordination with the Global Resource team.• Monthly Revenue accruals and deferral during month close activities. Open Item analysis and review on transition deferral and Amortization as per US GAAP.• Monitored WWER transactions processing Journals for corrections.• Reconciliation and Analysis of GL with backlog and Process/Propose the journals for cost and billings to the correct department/contracts/GL. Interacting with the counterparts to resolve disputed items.• Preparation of Measurement Performance Reports (MPR) of several IBM practice areas for review and planning of project wise GP, resource management, discretionary items, exported hours, ICA billings and recoveries by the Line Team & CFO.• Awarded with ISO yellow belt certification for streamlining the Gainshare process which minimized the 250 FTP hours and accurately tracks the migration ratio and revenue rec with 100% accuracy and turnaround.

Bangalore Urban, Karnataka, India

Worked in Financial Service Centre (FS) under Commercial Finance as an analyst and End to End support on TESCO mobile Deal.Main Responsibilities:• Acted as a single point of contact in TESCO Mobile Contract from finance, handling Financial Accounting, Reporting and Monthly book closures under IFRS.• Handling WIP and Control Accounts for Balance sheet Team, GL verification, Reconciliation of GL for inter-company transactions.• In-charge of Invoice Passing Controls. Maintaining Control ledger and supporting Balance sheet team on Balance sheet control mechanism by holding 170 “TESCO UK finance ledger”.• Supporting Tesco Mobile and Branded Online processes, various reports for WIP and control accounts.• Preparing MIS on daily online sales report and interacting with client on real time basis.• Audit of transactions including Stat Audit / Cost Audit.• Process Risk Management by ensuring the compliance to desk procedures by the operations team. (Walk through studies). Compliance to KRA & SLA.• Focus on operational improvements and process improvements through interaction with the operations team such as Accounts receivables, Accounts payables, General ledger, vendor and GRIR reconciliations, payments, etc.• Payment authorization and disbursement monitoring.• Perform preliminary Allied Vendor reconciliation before Trial Balance upload and processing adjustment entries for Imbalance between Allied Inter-Companies.• Monthly accruals and provision entries which will impact the Global Balance sheet at the consolidation level of Financial Statements.• Added good leadership skills through continuous interactions and recognized by the Global inter-company team. Had to coordinate the global inter-company overseas meetings with other regions.

Bangalore Urban, Karnataka, India

Joined as an Executive in OPI (Currently EXL Services Ltd.) to the Annual Reporting Team of US Statutory compliance teamMain Responsibilities:• Preparing Financial Annual Report for US Client as per the US state requirement of US-GAAP• Preparation of Cash flow and Fund flow statements and reconciling the bank with trust deposit Accounts, preparation of Financial flows as per US statutory compliance to monitor the overall fund and calculate the Net worth and per capital status.• Working under process called debenture check and Bond Analysis. Analyzing the Outcome on investment and investment distributing calculation.• De-risking Balance Sheet on review and mitigation plan, Focus on Cash Flow & ROCE Key Parameters.• Co-coordinating with Team Lead in preparing Daily Reports and training newly recruited people.• Preparing Desk procedures and presentation on various subjects of ISO Audit.

I was appointed as senior audit and taxation Executive at Dev Kumar & Co. Mangalore from Sept 2002 onwards.

Mba, Finance

Ca Inter, Technical Accounting Certificate

Bachelor Of Commerce

Education record

Education record