Ayoola Bolaji
Atherton,United Kingdom
Summary
Energetic Supervisor successful at motivating and building positive team dynamics to accomplish aggressive goals. Dedicated to open, communicative culture where employees feel empowered to contribute to company's success.
Overview
11
11
years of professional experience
8
8
years of post-secondary education
1
1
Certification
Work history
Acccount Recievable Supervisor
Sonnex Packaging Nig. Ltd
Lagos, Nigeria
03.2020 - Current
- Created, discussed, and implemented strategies to accelerate the collection of outstanding invoices, thereby reducing the average number of days it takes to collect payments from customers.
- Ensured timely and accurate invoicing processes to maximize cash flow and minimize the amount of overdue receivables by 80% within 8 months.
- Implemented effective credit control procedures to assess the creditworthiness of customers and minimize the risk of bad debts, achieving a 60% effectiveness rate.
- Streamlined accounts receivable processes by leveraging technology, automation, and process improvements to increase efficiency and reduce manual errors by 90%.
- Developed and implemented collection strategies tailored to different customer segments to improve collection rates and reduce delinquency by 80% among 100 customers that delay payment due to discrepancies.
- Improved existing KPIs and monitored metrics such as DSO, aging reports, and collection rates to track performance and identify areas for improvement.
- Provided leadership, guidance, and training to accounts receivable staff to ensure they are equipped to perform their roles effectively and contribute to departmental goals.
- Maintained effective communication with internal stakeholders such as sales, customer service, and finance teams to address customer issues, resolve disputes, and ensure alignment on accounts receivable processes.
- Developed standardized procedures and documentation for accounts receivable processes to ensure consistency, compliance, and transparency.
- Ensured compliance with regulatory requirements and internal audit standards related to accounts receivable processes, documentation, and controls.
Account executive - payables and receivables
Midcom Group. Nigeria
Lagos, Nigeria
05.2015 - 02.2020
- Monitored accounts payables and receivables to proactively spot and handle problems in 30 highest buyers.
- Identified opportunities to reduce costs associated with accounts payable and receivable processes, such as late fees, interest charges, or unnecessary expenses, resulting in a 30% cost savings.
- Generated regular financial reports related to accounts payable and receivable activities, carried out trend analysis to ensure 90% accuracy.
- Implemented internal controls, verifying consistently timely payment status to maintain strong vendor rapport with all 50 vendors available.
- Verified figures with cross-checking of different accounts and documentation for all customers and vendors.
- Provided accurate cash flow forecasts based on accounts payable and receivable data, assisting in strategic financial planning and decision-making.
- Established and maintained strong relationships with vendors and suppliers, negotiating favourable payment terms, and resolving any billing or payment discrepancies promptly.
Account assistant
Somotex Nigeria Ltd.
Lagos, Nigeria
06.2013 - 04.2015
- Maintaining accurate and up-to-date financial records through meticulously entering invoices, payments, and other financial transactions into the accounting system.
- Ensuring that invoices from vendors are processed promptly and accurately, minimizing delays in payments and avoiding late fees or penalties.
- Assisting in the management of accounts receivable by monitoring outstanding invoices, following up with clients on overdue payments, and maintaining positive relationships with customers.
- Supporting accounts payable processes by verifying and processing supplier invoices, reconciling statements, and preparing payments in a timely manner.
- Assisting with bank reconciliation activities by matching transactions in the accounting system with bank statements to ensure accuracy and identify discrepancies.
- Providing support in the preparation of financial reports, including balance sheets, income statements, and cash flow statements, by compiling and organizing relevant data.
- Assisting in the preparation for financial audits by gathering documentation, reconciling accounts, and addressing auditor inquiries to ensure compliance with regulatory standards.
Education
Bachelor of Science - Accounting
University of Lagos
Lagos, Nigeria 04.2008 - 12.2012
NVQ Level 3 - Accounting
Lagos State Polytechnic
Lagos, Nigeria 06.2005 - 11.2007
GCSEs - Mathematics, English
West Africa Examination Council
Nigeria 09.2001 - 05.2002
Skills
- Proficient in analysing financial data, identifying trends, and interpreting metrics related to accounts receivable performance, aging reports, and cash flow projections
- Ability to identify issues, investigate root causes, and develop solutions to resolve problems related to billing, collections, and customer disputes in a timely and effective manner
- Thoroughness and accuracy in reviewing invoices, reconciling accounts, and maintaining financial records to ensure compliance with accounting standards and regulatory requirements
- Strong verbal and written communication skills are essential for interacting with team members, clients, vendors, and other stakeholders, as well as for conveying financial information clearly and effectively
- Understanding of basic accounting principles and practices, including revenue recognition, accrual accounting, and GAAP (Generally Accepted Accounting Principles)
- Familiarity with accounting software systems and proficiency in using relevant tools for invoicing, billing, and accounts receivable management, such as ERP (Enterprise Resource Planning) systems and Microsoft Excel
- Knowledge of credit risk assessment techniques, credit management strategies, and internal controls to minimize bad debts, mitigate financial risks, and ensure compliance with company policies
Affiliations
- Travelling
- Watching Movies
Accomplishments
- Received "you are a star" award from the management for been able to reconcile receivable accounts, recover bad debts and continuing maintaining credit exposure according to the company policy.
- Staff of the Year award in 2022 in the unit for making the receivable team the best performing team in the year.
Certification
Association of Accounting Bodies West Africa - Associate Accounting Technician (AAT) in 2010
Languages
English
Intermediate
References
References available upon request.
Timeline
Acccount Recievable Supervisor
Sonnex Packaging Nig. Ltd
03.2020 - Current
Account executive - payables and receivables
Midcom Group. Nigeria
05.2015 - 02.2020
Account assistant
Somotex Nigeria Ltd.
06.2013 - 04.2015
Bachelor of Science - Accounting
University of Lagos
04.2008 - 12.2012
NVQ Level 3 - Accounting
Lagos State Polytechnic
06.2005 - 11.2007
GCSEs - Mathematics, English
West Africa Examination Council
09.2001 - 05.2002
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