JD- Business Finance Head

About Ebco

Ebco, founded in 1963 and having diversified into furniture hardware in 1987, stands as a leading brand in India's furniture fittings industry. The company offers a diverse product range with over 1,000 items and 7,500+ SKUs, including fittings for beds, wardrobes, kitchens, and offices. Positioned in the mid-premium market segment, Ebco caters to value-conscious customers seeking high-quality branded products. Currently, Ebco operates 4 manufacturing units in Palghar and Vasai contributing about 26% of its sales and remaining being procured from China, Thailand and Europe. To enhance its manufacturing capabilities, the company is setting up 1 new plant in Palghar, dedicated to hinges and drawer slides, which are expected to boost in-house production revenues to 60% and be operational by late 2024.

 

Ebco has a strong geographic presence across 22 Indian states, with a notable leadership position in South India, which generates approximately 61% of its revenues. The company's distribution network includes 34 exclusive distributors serving over 5,000 retail outlets. The top 5-10 distributors are particularly significant, accounting for 72% of revenues and maintaining long-term relationships averaging 25 years.

 

The corporate office is situated in Mumbai, while the manufacturing facilities are based in Vasai and Palghar, Maharashtra. Ebco employs nearly 800 people and utilizes advanced technology, including 3D design software and CNC machining, to maintain high production standards. The company is expanding its infrastructure with new plants and enhancing its in-house manufacturing capabilities to further reduce reliance on international suppliers.

 

For more information, visit https://ebco.in/company

 

Investors - Warburg Pincus

Warburg Pincus is in the process of acquiring a controlling stake in Ebco. Warburg Pincus is a leading global private equity firm focused on thesis-driven growth investing at scale. With more than $83 billion in assets under management, the firm’s active portfolio of more than 250 companies is highly diversified by stage, sector and geography. As an experienced partner to outstanding management teams, Warburg Pincus helps build durable companies with sustainable value. Warburg Pincus has raised 21 private equity funds and 2 real estate funds, which have invested more than $117 billion in over 1,000 companies in more than 40 countries.

 

Warburg Pincus takes a long-term perspective and invests in businesses at all stages of development, from founding start-ups and supporting growth in new and developing companies, to leading complex recapitalizations or large-scale buyouts of more mature businesses. This long-term approach also applies to expectations of accountability, the firm’s commitment to ethical business conduct and acting as a responsible investor and member of the local communities in which it operates.

 

Some of their key and recent portfolio companies in India include Airtel, Apollo Tyres, Ecom Express, Boat, Medplus, Meril, Ola, Watertec, Imperial Auto, Parksons Packaging, Appasamy Associates, Perfios etc. Warburg has invested in another medical devices company from India (Meril Life Sciences) and has familiarity with the medical devices and healthcare space. For a complete list of key investments, visit https://warburgpincus.com/investments/

Job Summary

 

Ebco is currently seeking a business finance head to join our growing team and execute the growth plans of the organization.

 

The successful candidate will be an experienced finance leader, who understands the sales and marketing functions to drive top line, transformation and growth through business partnering and maintaining relationships at all levels with excellent communication and leadership skills.

As an expert in financial management, your ability to provide valuable insights and recommendations will be crucial in achieving business objectives.

 

The role will be responsible for managing the entire revenue side of P&L and Balance Sheet items while driving the finance and business objectives in line with the strategy. Working closely with the sales and marketing team, this role will play a pivotal role in growth through strategic decision-making, financial planning, and ensuring the long-term financial sustainability of the company. This role will support in product and customer pricing, customer, geography, KAM (key accounts manager), and product/segment profitability and lead the order to cash process. This role reports to CFO and works closely with sales and marketing team.

 

Purpose This role would be primarily involved in the following activities:  Support sales and marketing team on business decision making: Customer/product profitability and new product pricing decisions. Ensures implementation of Sales Finance processes and compliance to financial policies, and management reporting Drives tracking of Commercial KPIs and business performance reviews with business leaders. Facilitate Recording, analysis and discussions of actual performance on sales and marketing with reference to financial plans, manage Cash Flows and report results Ensure compliance with all financial policies, Standard Operating Processes, and Financial Statutory requirements in sales and marketing. O2C (Order to cash) Lead and drive productivities and efficiencies as per agreed SOPs and SLAs Ensure setting up and compliances of Processes to capture insightful cause of change analysis of sales Financials. Ensure we have a robust PMP Process, manage Talent and Reward and Recognize appropriately. Facilitate in building the AOP of sales and marketing and report risks and opportunities every month. Support the team in any inorganic growth opportunities in line with strategic plan Marketing calendar and review return on investment review

Snap Shot of the Job Job Dimensions The scope of the role would include – Overall, Company Net Revenue: Rs 883 crores (FY24) Commercial Facilities: 34 Distributors and ~ 200 OEM’s >10 number of product groups/ categories Approx 7500 sales skus 17 outbound shipments per day   Warehouses and depots No of warehouses: 3                                 Main interactions Internal: CEO, CFO– articulate comprehensively variances in the monthly financial results. Sales and marketing leaders/team: interactions wrt any financial issues in the sales and marketing organization (on going) Domestic and export heads– wrt to customer Agreements / commercial terms   IT Head and his team– wrt to any issue on Hardware and/or software in the Head office / commercial Organization Treasury Head and his team– wrt any issues in cash management, issuance of Guarantees, approval of advances, etc Key Account managers HR & Legal External: -- Banks Statutory Auditors Internal Auditors

Title: Business Finance Head, Job Level – xxx

 

 

 

 

Accountabilities and measures:

Business Results

Key Accountabilities

Support and facilitate country/customer and geography level Annual Operating Plan across all Sales finance lines.

Cascade and communicate plan to sales leaders in a seamless manner ensuring ownership & sign offs

Ensure preparation of financial forecasts including monthly / quarterly P&L and volume analytics (forecasts / outlooks) and provide heads up on risks & opportunities

Partner with Sales Managers in managing distribution economics and driving efficiency for marketing and outwards logistics costs.

Drive closing process of P&L and Balance Sheet as per defined frequency and ensure timeliness and accuracy for revenue, discounts and S&D cost lines. Drive the “Working Capital Productivity” asks. Review commercial contract accounting, management, review. Maintain quality account reconciliations for accounts falling within his/her area. Ensure timely and accurate submissions to control team on key provisions and all financial impacts as per defined frequency.

Facilitate analysis and review of actual performance on key metrics (Trade margins, discounts, marketing costs, Trade or Distributor margin & expenses, Sales Supervision costs, GTM types & expenses, Sales A&M / Central spends, capex in sales & marketing). Present dashboard during Finance reviews and drive action points. Work with Sales Head on business performance reviews and determine interventions. Provide Exec Committee Perf Review support and standardize financial review templates.

Develop commercial proposals for deal creations with customers across channels. Ensure compliance on Commercial Credit Policy e.g. customer level claims, reconciliation & AR management Partner Business stakeholders in resolving business issues (commercial/legal), Commercial KPI's tracking, giving on-going business support Ensure frequent engagement with Field Sales team and training to explain the processes, issue resolutions, consequence management.

People Results

Leadership quality thru capability build and career conversations. Diversity and Inclusion Ensure diverse representation in the Organization and build and maintain infrastructure to sustain diversity hires.

Talent Management Ensure quality execution of the PMP Process Ensure quality People Plan Process Motivate and energize team through appropriate reward and recognition programme

Candidate profile:

• Degree in Chartered Accountancy and/or a degree with specialization in Finance
• Proven, successful experience of at least 7-8 years in the Finance department of an organization, with specific work in the following:
  • FP&A and business finance (ERP-SAP/Oracle)
  • Area of work involving interpretation of Indian GAAP / IndAs
• At least 2-3 years’ experience in paint, adhesive industry will be preferred but not mandatory.
• People Management experience

 

• Skills and Behavioral Attributes:
• a. Communications skills
• b. Interpersonal skills with high EQ
• c. People management skills
• d. Negotiation skills
• e. Ability to think strategic and connect the vision to action.