Venkatesh V. Galgali

Company Overview: Crane ChemPharma & Energy (within Crane Co.’s Process Flow Technologies segment) designs and manufactures a variety of high performance products including: highly engineered check valves, sleeved plug valves, lined valves, process ball valves, high performance butterfly valves, bellows sealed globe valves, aseptic and industrial diaphragm valves, multi/quarter-turn valves, instrumentation and sampling, actuation and controls, sight glasses, lined pipe, fittings and hoses, and air operated diaphragm and peristaltic pumps. Among the industries served are the chemical processing, biotechnology, pharmaceutical, oil & gas, refining, and power generation.

• Evaluating new credit requests and reviewing customer credit behavior
• Collaborated with other departments to resolve billing errors, ensuring timely payment from clients.
• Review setting up of terms (Existing and New clients) and terms of credit
• Reviewed customer accounts for compliance with repayment obligations.
• Ensure timely collection of debts and restrict not to convert them to bad debts
• Conducting regular debt review meetings with key stakeholders
• Liaising with Sales Invoicing team with query resolution
• Managing the customer relationship and responding to internal and external queries in a timely manner
• Preparation of statements, client status reports and share dunning letters to respective clients periodically
• Responded to disputes calmly and applied logical, knowledgeable approaches to devise solutions.
• Supported sales teams by providing accurate credit information for new and existing customers.
• Participate in Management review meetings. Develop the credit control system in collaboration with Sales, Marketing and company executives
• Monthly reporting as per Corporate guidelines; consists of, preparing AR Statement, Interco recharges, Interco balance confirmations, Accounting of Forex revaluation, Sales commission accounting, Accrued Interest accounting, AR provision / obtaining exemptions as per policy guidelines, Credit notes for returned goods.
• Reduced overdue debt by closely monitoring customer accounts and taking prompt action on outstanding payments.
• Provide inputs pertaining to AR during submission of monthly pulse, Quarterly Forecasts and Yearly Plan.
• Bank guarantee, as per contract terms getting the BGs issued and submitted on time to customers. Liaising with bank for getting the BG drafts vetted, obtain customer approvals prior to issuance.
• Letter of Credit transactions; Review LC drafts from customers prior to issuance. Post supply ensure timely and clean document submission in bank. Track till timely realization of payment.
• Increased collection rates through proactive account management and regular follow-ups with clients.

The Attainments

• Improvement in DSO from 82 days to Average collection period of 61 days.
• Letter of Credit documentation; Lead the TPI Kaizen event, implemented the strong process to ensure timely submission of clean documents in bank resulted in timely realization of payments.
• Performed annual account credit limit reviews and credit increase review requests from financial service and sales teams.
• Maintained accurate records of all communications related to debtor management for audit purposes.
• Played an integral role in improving the company''s cash position by successfully negotiating mutually beneficial payment terms with clients.
• Minimized bad debts by conducting thorough credit assessments for new clients and regularly reviewing existing client profiles.
• Awarded with 'Functional Excellence 2020'

• Company Overview: Johnson Controls automates and integrates critical building systems such as HVAC equipment, security and lighting. Automation and integration improves the comfort and safety of buildings while increasing energy efficiency and reducing costs. It also provides customers with a better view of all the aspects of their buildings and the related costs, enabling them to make more informed operating and management decisions.
• Producing various financial reports, such as outlook and dashboard data weekly or as required
• Partnering the finance function and operations manager to produce the ops pack on time
• Maintenance and reporting of the top ten unbilled and AR overdue balances
• Periodic (monthly) business/operations reviews - contract / backlog Project reviews and report summary
• Conduct monthly financial reviews on the income statement and TWC results to ensure appropriate understanding and ownership
• Identifies financial status by comparing and analyzing actual results with plans and forecasts.
• Improves financial status by analyzing results; monitoring variances; identifying trends; recommending actions to management.
• Accounts receivable - collections supervision, monitoring of documentation, ensuring customer visits (in person where necessary)

The Attainments

• Improvement in DSO from 150 days to Average collection period of 87 days for the invoices pertaining to FY13.

Company Overview: MCFM is 100% owned subsidiary of Master Chemical Corporation, USA, covers all aspects of fluids and fluid management from the technical formulation of cutting fluids, cleaners, and rust preventatives to the design and manufacture of recycling systems and fluid filtration equipment.

• Built high-performing teams through effective recruitment, onboarding, and talent development initiatives.
• Liaison with Chartered Accountant /Consultants for company accounting, tax, and excise report, and tax return matter. Make sure all accounting, tax, and excise report for company are correct prior to submission.
• Finalization of B/S
• Preparing Transfer Pricing documentation
• Track company expenses, as well as prepare, analyze and verify financial documents.
• Collecting and summarizing sales forecast from all distributors and sales department Make production and product importing schedule base on sales forecast.
• Communicate with subsidiary regularly for accounting report and any related matter.
• Control and make report on products inventory.
• Handling all necessary legalities that company required.
• Liaison with toll blender to make sure smooth production.
• Products import, custom clearance, and delivery at factory.
• Handling purchase orders from distributors and customers.
• Make sure products distribution are in place effectively and efficiently.
• Releasing fund for office operations and sales activities expenses.
• Vendor selection and discussion to get good quality products at lowest cost.
• Human resource planning, recruitment and implementation.

The Attainments

• One of the active team members of start of India manufacturing project. Project started with preparation of Feasibility report considering various aspects such as Economic Review, Political Overview, Market Overview, Market Geographies, of India, India Tax Structure, Legal Structure Overview, Investment Destination [Why India, Maharashtra / Pune], Land Price Analysis, etc.
• Locating various sites, short listing suitable sites, appointment of consultants, negotiations with land owners etc.
• Finally achieved target of getting a desired piece of land.
• Participation in IMTEX / TOOLTECH Exhibition in Yr.2007 & 2009. Since from the applying for the allotment of stall, obtaining various approvals, designing of stall, overall management till the last day of the show.

• Company Overview: ICIL is involved in manufacturing of helical gearboxes and geared motors in technical collaboration with M/s. Danfoss Bauer GmbH Germany.
• Maintaining Cash Book & Bank Book
• Recording of Receipt & Payment vouchers [Of day to day Cash & Bank transactions].
• Recording necessary JV’s.
• Preparation of Trial balance & sending the same to H.O. on monthly basis.
• Preparation of MIS (Sales & Accounts).
• Preparation and submission of daily Sales & collection report.
• Drawing imprest cash cheques and handling petty cash.
• Preparation of Bank Reconciliation Statement of Current Account.
• Receive cheques / D.D. from customers, record them and deposit the same in banks.
• Recording of daily bank balance and co-ordinate with H.O. Accounts for Interbank transfer.
• Follow with customers for payment recovery, sending pre-intimations regarding due payments for the customers having credit payment terms.
• Submission of Proforma Invoice to customers, collection of payment from them and giving necessary dispatch clearance to factory.
• Reconcile client’s accounts statement as and when required, make them understand the discrepancies in the statement by visiting their offices if required and resolve the disputes.
• Preparing and sending duly remarked Debtor list, mentioning expected payment recovery dates and details of payment receipts, to H.O. on monthly basis.
• Follow up and collection of ‘C Form’ of inter-state transactions.
• Receive L.C’s, Hundis for negotiation / collection and follow with Bank for proceeds.
• Along with above primary responsibilities I was also actively involved in sales activities like visit to customers, giving product introductions / presentations, generating enquires, submitting offers, negotiating orders, preparation of works order, co-ordination / follow up with factory for fulfillment of delivery commitments etc.
• Taking care of work assigned to colleague in his absence.

The Attainments

• Independently handled various job responsibilities to the expected levels.
• Successfully handled ISO audits.