Senior Executive - Accounts and Purchase

We are seeking a highly skilled and experienced Senior Executive - Accounts & Purchase to join our finance and procurement team. This role is pivotal in managing the end-to-end accounts payable functions and procurement processes to ensure smooth financial operations and cost-effective purchasing. The ideal candidate will have strong expertise in vendor management, invoice verification, contract negotiation, and financial record-keeping, with a keen eye for detail and compliance.

KEY RESPONSIBILITY AREA

Accounts Management

• Verify and process vendor invoices and service bills ensuring accuracy and compliance with company policies.
• Manage vendor payments and maintain timely payment schedules.
• Raise and follow up on debit and credit notes related to material discrepancies or quality issues.
• Maintain and update vendor master data accurately in accounting systems such as Tally or SAP.
• Prepare and present MIS reports related to accounts payable to assist management in decision-making.
• Coordinate with internal teams to ensure proper accounting of raw material receipts and usage.
• Monitor store operations to ensure accurate material records and implement internal controls to prevent discrepancies.

Purchase Management

• Source, evaluate, and select vendors based on thorough market research and supplier capability assessments.
• Negotiate contracts, prices, payment terms, delivery schedules, and quality standards with suppliers to secure favorable terms.
• Develop and maintain strong, long-term relationships with suppliers to ensure reliable supply and cost efficiencies.
• Monitor procurement budgets and track spending to align with organizational goals.
• Collaborate with cross-functional teams to forecast purchasing requirements and plan procurement activities accordingly.
• Ensure compliance with procurement policies, regulatory requirements, and company standards.
• Identify and implement cost-saving opportunities and procurement best practices.

Qualifications

• Bachelors degree in Commerce, Finance, Business Administration, or a related field. A Master’s degree or professional certification (e.g., CMA, CPA, CPSM) is a plus.
• Minimum 5-6 years of relevant experience in accounts payable, procurement, or purchase management, preferably in manufacturing or similar industries.
• Strong knowledge of accounting principles, financial regulations, and procurement methodologies.
• Proficiency in accounting software (Tally, SAP, or equivalent) and Microsoft Excel.
• Excellent negotiation, communication, and interpersonal skills.
• Strong analytical and problem-solving capabilities.
• Ability to manage multiple priorities, work under pressure, and meet strict deadlines.
• Detail-oriented with a high level of accuracy and organizational skills.
• Leadership qualities with the ability to collaborate effectively with vendors and internal teams.

Skills

• Accounts payable and vendor payment management
• Invoice verification and reconciliation
• Vendor sourcing, evaluation, and contract negotiation
• Procurement planning and budget management
• Financial reporting and MIS preparation
• Regulatory compliance and internal control implementation
• Strong communication and negotiation skills
• Proficiency in accounting and procurement software