NITESH JOSHI
Gurugram
Summary
Managed over 100 clients and processed 1,500+ monthly invoices, contributing to an annual turnover exceeding ₹800 Cr. Led a 15-member Accounts & Finance team, specializing in financial planning, variance analysis, and cash flow management. Expertise in profit and loss analysis, vendor reconciliation, and tax compliance. Proficient in process automation and managing end-to-end AP, AR, P2P, RTR, and OTC processes.
Overview
10
10
years of professional experience
1
1
Certification
Work History
DGM -Finance
LOVE IN STORE
04.2023 - Current
- - Managed a portfolio of over 100 clients, ensuring high-quality service delivery and client satisfaction, resulting in a 95% client retention rate.
- - Processed more than 1,500 invoices monthly, contributing to an annual turnover exceeding ₹800+ Cr, while actively resolving billing and collection disputes.
- - Implemented Working Capital Management strategies to optimize company liabilities, providing insights and dashboard-enabled reports with key metrics.
- - Executed cash flow management techniques to ensure liquidity within the company, reducing financial risks and improving resource allocation.
- - Conducted Profit & Loss Analysis by comparing budgeted numbers and revising them monthly, leading to a 10% increase in profitability and accurate forecasting.
- - Implemented Budgeting Forecasting VS Actuals of Business numbers at income and expense levels, providing insights on company trends and driving informed decision-making processes.
- - Drove continuous process improvements to enhance efficiency and reduce aged receivables, resulting in a 20% reduction in overdue payments within six months.
- - Handled end-to-end vendor payments, overseeing approximately 4 lakh transactions yearly and ensuring daily reconciliation at both vendor and client levels, maintaining a 100% accuracy rate.
- - Conducted Annual Operating Plans (AOP) variance and project-level cost & profit (margin) analysis, providing insights that led to a 15% increase in project profitability.
- - Managed employee expense reimbursements, ensuring prompt processing and adherence to company policies, resulting in 100% compliance with expense policies.
- - Ensured TDS and GST compliance for all payments, effectively resolving tax issues and minimizing financial risks.
Head Accounts AP & AR
LOVE IN STORE
05.2021 - 03.2023
- - Orchestrated a team of 8 members to efficiently handle payments for 400,000 DSRs, ensuring precise and punctual processing and reconciliation.
- - Achieved a 20% increase in payment processing efficiency by implementing streamlined processes and procedures.
- - Spearheaded the turnover of ₹500 crore, driving the implementation of process automation to optimize operational efficiency.
- - Established TDS compliance and GST reconciliation protocols, resulting in a 15% increase in financial accuracy and a 25% reduction in errors.
- - Introduced new Payable processes and SOPs to uphold accuracy in a high volume of transactions.
- - Implemented PO and Non-PO based billing and 2 and 3-way matching across all 100+ clients.
- - Led a team to ensure invoices were raised on a T+2 basis, maintaining a 98% accuracy rate for all revenue entries.
- - Monitored and ensured timely collections from clients and partners while maintaining a positive client relationship.
- - Conducted monthly reconciliation of AR sub-ledger to the General Ledger (GL), maintaining an accuracy rate of 100% with zero unreconciled items by month-end close.
- - Overlooked team adherence to a compliance checklist specific to GST application in billing, achieving 100% compliance rate.
- - Developed and implemented strategies to reduce days sales outstanding (DSO) and improve cash flow, resulting in a 20% reduction in DSO.
- - Successfully achieved a zero-audit observation rate for the AR function.
- - Led a team to develop a real-time dashboard for internal tracking and reporting of key AR metrics.
Senior Finance Executive
Reckitt
05.2019 - 04.2021
- Reconciled daily transactions across major payment gateways and COD.
- Managed vendor advances and ensured timely settlement.
- Ensured timely submission and processing of vendor bills.
- Handled monthly TDS deposits and quarterly e-TDS returns.
- Analyzed monthly customer refunds to identify trends and discrepancies.
- Processed vendor Opex claims with accuracy and timeliness.
- Prepared monthly cash flow and inventory reports.
- Forecasted inventory levels and flagged risks/opportunities.
- Maintained weekly accounts receivable and followed up on collections.
- Managed weekly accounts payable and invoice matching.
- Prepared bank reconciliation and monthly income statements.
Account Executive
Shoppers Stop
03.2015 - 04.2019
- Managed daily sales reporting, banking reconciliations, and cashier operations.
- Oversaw petty cash, credit card transactions, and forex cash handling.
- Maintained inventory control and fixed asset registers as per compliance norms.
- Conducted internal audits and ensured adherence to financial controls.
- Led AR/AP processes, including collections, vendor payments, and ledger maintenance.
- Handled month-end closing activities and posted expenses in Oracle ERP.
- Delivered team training to standardize financial processes and reporting.
Education
MBA/PGDM - Finance
Rajiv Academy For Technology & Management
Mathura, UP01.2015
B.Com - Commerce
Rajasthan University
Jaipur01.2013
Skills
- Taxation
- Financial analysis
- Expense management
- Accounts receivable and payables
- Cash flow management
- Profit and loss analysis
- Budgeting and forecasting
- Cash management
- Internal controls
- Working capital management
- Bank reconciliation
- Process improvement
- Vendor management
- Cost management
- Intercompany reconciliation
- Month-end reporting
- Procure-to-pay (P2P)
- Business finance
- Variance analysis
- Financial planning and analysis
Projects
Income and expense portal
English, Hindi income and expense portal, 8 months, - spearheaded the development of a portal in 2022-23 to automate payment division operations, leveraging existing resources for cost minimization, - successfully transitioned billing, expenses, and payments for 50 active clients and 300,000 distributors and retailers to the portal, - automated the generation of compliance, project-wise cost, income, and margin reports through the portal, - streamlined all accounting entries in SAP and implemented host-to-host bank integration for ACH payments
IAMLIS - in-house finance portal, 17 months
coordinated with the Bizz team to conceptualize and execute the in-house finance portal IAMLIS - worked collaboratively with the Bizz team to design and develop the in-house finance portal IAMLIS, create and integrate various modules including Incom, Account Payable, Expense Module, Receivables, Budgeting, Cost Centers, Profit Center, and other financial reports activities - integrated different individual portals like income, expense, and SAP into a single dynamic portal, enhancing system transparency, RTR, forecasting, and cash flow management - implemented project-level cost and margin analysis, resulting in improved financial insights and strategic decision-making
Certification
Financial Accounting Foundations July 2020
Income statement (P&L) and cash flow June 2021
References
References available upon request.
Timeline
DGM -Finance
LOVE IN STORE
04.2023 - Current
Head Accounts AP & AR
LOVE IN STORE
05.2021 - 03.2023
Senior Finance Executive
Reckitt
05.2019 - 04.2021
Account Executive
Shoppers Stop
03.2015 - 04.2019
MBA/PGDM - Finance
Rajiv Academy For Technology & Management
B.Com - Commerce
Rajasthan University
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