Swati Sumit
Hyderabad,
Summary
Dynamic Finance professional with extensive experience in Credit Risk Assessment and Collections Management. Proven track record in optimizing Accounts Receivables reporting and enhancing stakeholder relationships. Focus at process standardization and compliance adherence, driving significant improvements in cash flow and operational efficiency.
Overview
13
13
years of professional experience
1
1
Certification
Work History
Senior Specialist
United States Pharmacopeia
Hyderabad
06.2024 - 08.2024
- Managing collection activities of all USP accounts in APMA region
- Setting credit lines and authorizing order releases in line with financial objectives and risk assessment standards
- Raising invoices to the customer
- Preparing AR aging report and presenting the comments to the stakeholders
- Reviewing and responding to client requests regarding any issues in the invoices
- Invoicing mapping with the purchase orders
- Processing refunds to the customer
- Collaborating cross-functionally with Accounting, Finance, Customer Service, Sales, Legal, and IT to optimize financial workflows and enhance global system capabilities
- Supporting internal and external financial audits by providing necessary documentation and insights
- Adhering to Compliance and internal controls of the process
- Preparing SOP, process flow charts and ensure to maintain the version controls of the Job Aids
- Working with the Functional leaders and other internal groups to ensure standardization of process all across the region
Senior Specialist
Novartis Healthcare India Private Limited
Hyderabad
02.2019 - 03.2023
- Executing collection activities using all available tools to ensure cash flow is maximized
- Identifying risk customers and escalating according to guidelines if past dues are not collectible
- Maintaining accurate accounts and prioritizing deductions regularly to ensure timely resolution
- Assessing the creditworthiness of the potential customers, credit risk category, and advising the credit limits per customer
- Preparing AR Aging report and provision for bad debt in the respective work days
- Performing Financial risk scoring based on the Financials Statements provided by the customers
- Conducting strategic Credit Committee Review meetings quarterly for the countries to discuss the AR-related issues
- Performing the Novartis Finance Controls and conducting an internal quality review of the process
- Identifying and implementing process improvements in the credit and collection process
- Design process metrics, process reengineering, and development to ensure data quality and accurate results
- Supporting internal and external financial audits by providing necessary documentation and insights
- Addressing and resolve escalated customer concerns in a professional and timely manner
Finance Specialist-II
Hitachi Consulting
Hyderabad
01.2017 - 01.2019
- Managing collection activities of customers in US and UK
- Participating in the All Hands Meet and presenting the deck to the management
- Working on Day Sales Outstanding Analysis and Average Days Delinquent Analysis
- Performing credit checks of the delinquent customers before on boarding and sharing recommendation to the project manager
- Setting credit period of the customers
- Working on late payer analysis, MIS reporting, and collections forecasting.
- Reviewing the Statement of Work with the Master Service Agreement of the customers, using the standard checklist provided by the company
- Following up with the customers for AR Balance confirmation quarterly as an Audit requirement
- Facilitating and driving weekly/biweekly meetings with both business and stakeholders
- Meeting process SLA on consistent basis with the best in class TAT for the activities handled
Analyst
Deloitte Support Services India Private Ltd
Hyderabad
09.2014 - 11.2015
- Maintaining a portfolio of over 200 accounts (on average about 70 delinquent), monitoring a queue daily to ensure past due customers were contacted as needed via letters and email
- Working proactively with other departments in identifying and resolving invoice disputes, researching misapplied payments to keep DSO as low as possible
- Setting up the Country Credit Limit of the high risk countries
- Conducting internal quality Audit of the internal process
Executive
KSK Energy Ventures Limited
Hyderabad
11.2011 - 09.2014
- Managing Monthly invoices to the customers
- Maintaining the Receipts/Collections from Customers
- Preparing Customer wise Debtor statement
- Consumer wise reconciliation of outstanding
- Preparing MIS of all operational details and comparing the same with Financial Statements
- Performing Variance Analysis & Review of Operations statement for Quarterly and Yearly basis
Education
MBA - Finance
Regional College of Management
Bhubaneswar06-2011
Bachelor in Engineering - Electrical Engineering
Biju Pattnaik University
Bhubaneswar06-2009
12 - Science
Ramadevi Womens Junior College
Bhubaneswar06-2005
10 - Science
BJEM
Bhubaneswar06-2003
Skills
- Customer Relationship Management
- Credit Risk Assessment
- Collections Management
- Accounts Receivables Reporting
- Invoice Processing
- Risk Mitigation Management
- Stakeholders Management
- Process standardization
- Quality Assurance
- Compliance Adherence
Accomplishments
- Bagged Integrity Award in Quarter 2 2021 for the Project Tango in Global Forum in Novartis
- Received positive feedback from the senior management for successful transition of the process
- Promoted to Senior Specialist in Novartis
Certification
- Operational Excellence(OPEX) certified three times for Continuous Improvement Ideas related to the Process
ERP
- SAP, Oracle, Netsuite
Timeline
Senior Specialist
United States Pharmacopeia
06.2024 - 08.2024
Senior Specialist
Novartis Healthcare India Private Limited
02.2019 - 03.2023
Finance Specialist-II
Hitachi Consulting
01.2017 - 01.2019
Analyst
Deloitte Support Services India Private Ltd
09.2014 - 11.2015
Executive
KSK Energy Ventures Limited
11.2011 - 09.2014
MBA - Finance
Regional College of Management
Bachelor in Engineering - Electrical Engineering
Biju Pattnaik University
12 - Science
Ramadevi Womens Junior College
10 - Science
BJEM
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