Croma
Website:
croma.com
Job details:
Role Overview
The Deputy General Manager – Finance & Accounts and Digital Transformation will lead the end-to-end AP function for a high-volume electronic retail business, covering both direct procurement (OEMs, distributors, inventory purchases) and indirect procurement (store operations, logistics, marketing, IT, and corporate spend).
This role will focus on building a best-in-class, scalable AP organization by driving automation, strengthening controls, and implementing industry-leading practices to support rapid business growth, complex vendor ecosystems, and dynamic pricing structures.
Key Responsibilities
1. End-to-End AP Operations
- Lead high-volume invoice processing across inventory purchases (direct) and operating expenses (indirect).
- Ensure accurate 3-way matching (PO–GRN–Invoice), especially for inventory procured from OEMs and distributors.
- Oversee handling of price variances, debit/credit notes, promotional schemes, and vendor claims, along with tracking of CD earnings.
- Ensure timely payments aligned with negotiated credit terms to optimize working capital and vendor relationships.
- Drive strong governance on GR/IR clearing, accruals, and period-end closing.
2. Retail-Specific Process Management
- Manage complexities such as:
- Frequent price changes and promotional discounts
- Bulk procurement cycles and seasonal inventory spikes (festive sales, product launches)
- Vendor incentives, rebates, and backend margins
- Ensure accurate accounting and reconciliation of scheme payouts, volume discounts, and marketing support funds.
- Partner with merchandising and procurement teams to validate financial impact of pricing and promotions.
3. Automation & Digital Transformation
- Drive AP digitization using ERP platforms such as SAP S/4HANA.
- Implement touchless invoice processing, OCR, and automated workflows to handle large invoice volumes.
- Introduce vendor self-service portals for invoice submission and status tracking.
- Build dashboards for real-time tracking of liabilities, overdue payments, and vendor balances.
4. Process Excellence & Continuous Improvement
- Lead transformation initiatives using frameworks like Lean Six Sigma.
- Standardize AP processes across stores, warehouses, and corporate functions.
- Optimize invoice processing cost and turnaround time while improving accuracy.
- Drive centralization or shared services model (if applicable).
5. Compliance, Controls & Risk Management
- Ensure compliance with GST regulations, e-invoicing, and input tax credit (ITC) reconciliation.
- Strengthen controls around:
- Vendor master data management
- Duplicate and fraudulent payments
- Audit trails and documentation
- Ensure readiness for internal and statutory audits.
6. Vendor & Stakeholder Management
- Build strong relationships with key vendors including OEMs, distributors, and service providers.
- Resolve escalations related to payments, disputes, and reconciliations.
- Collaborate with Procurement and Treasury to:
- Optimize Days Payable Outstanding (DPO)
- Negotiate favorable payment terms
- Support business teams during major sales events and inventory ramp-ups.
7. Team Leadership
- Lead and scale a large AP team handling high transaction volumes.
- Develop capabilities in automation tools, analytics, and retail finance processes.
- Define KPIs and drive a performance-oriented culture.
Key Performance Indicators (KPIs)
- Invoice processing turnaround time (TAT)
- % of touchless/automated invoices
- On-time payment rate
- Invoice exception rate (price/quantity mismatches)
- Vendor reconciliation cycle time
- Cost per invoice
- DPO improvement
- GST compliance accuracy (ITC utilization, mismatches)
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