About Elfonze

Elfonze Technologies is a Bengaluru-headquartered technology and consulting firm. We deliver Oracle and SAP enterprise applications, connected supply chain and process excellence solutions, digital engineering and AI, cloud infrastructure and cybersecurity, and ESG and sustainability consulting and platforms, alongside our own products such as Kairos11. We serve clients from offices across India, the USA (Denver) and the UAE (Dubai).

Our business combines fixed-price projects, time-and-materials consulting, staff augmentation, managed services and product and platform subscriptions. This makes revenue recognition, project margin control, cash flow and multi-country compliance central to the finance role.

The role

As the senior finance leader of the company, you will be accountable for four outcomes:

1. Accurate, timely numbers: a reliable monthly close, Ind AS-compliant financial statements and management reporting that leadership can act on.
2. Commercial control: clear profitability by project, client, geography and product line, with disciplined cash flow, working capital and strong banking support.
3. Compliant international operations: sound handling of cross-border contracts, foreign exchange, tax and regulatory obligations in India and overseas.
4. Growth readiness: governance, controls and reporting that stand up to investor due diligence, lenders and sustainability disclosure requirements.

Key responsibilities

1. Financial planning and performance

- Lead the annual budget, rolling forecasts and three-year financial plan.
- Deliver monthly MIS to the CEO and leadership: P&L; by business line, variance analysis and forward view.
- Build profitability reporting by project, client, geography and service line (enterprise applications, supply chain, digital and AI, infrastructure, ESG and products).
- Support bid pricing and business cases with sales and delivery, including fixed-price risk and margin floors.

2. Accounting, close and revenue recognition

- Own the monthly, quarterly and annual close against a published close calendar.
- Prepare standalone and, where applicable, consolidated financial statements under Ind AS.
- Apply Ind AS 115 consistently across fixed-price milestone, time-and-materials, staff augmentation, managed services and subscription contracts.
- Control unbilled revenue, work-in-progress, deferred revenue and contract assets, reconciled to billing and delivery data.

3. Taxation and statutory compliance

- Ensure timely compliance on GST (including export of services under LUT), TDS/TCS, income tax and advance tax.
- Ensure Companies Act and ROC compliance with the Company Secretary.
- Lead statutory, internal and tax audits to clean, on-time sign-off.

4. International finance and cross-border compliance

- Manage finance for overseas contracts and foreign entities or branches, including the USA and the UAE.
- Ensure FEMA and RBI compliance on export of services, foreign remittances, overseas investment and realisation of receivables.
- Manage transfer pricing policy, documentation and intercompany agreements.
- Handle withholding tax, DTAA benefits, Tax Residency Certificates and permanent establishment risk.
- Oversee overseas tax obligations with local advisers, including US federal and state taxes and UAE VAT and corporate tax.
- Manage foreign exchange exposure, invoicing currencies and hedging decisions.

5. Cash flow management, treasury and banking relationships

- Cash flow planning: own a 13-week rolling cash forecast,



a monthly fund-flow plan and an annual cash budget aligned to the growth plan.
- Liquidity resilience: maintain cash buffers, early-warning triggers and a contingency funding plan; stress-test cash against delayed collections, project slippage and currency movements.
- Working capital: shorten the bill-to-cash cycle through milestone invoicing, advance and mobilisation payments, disciplined vendor terms and tight control of unbilled revenue.
- Collections: run weekly receivable reviews with delivery and sales, including overseas debtors, with transparent escalation for overdue accounts.
- Banking relationships: build strong relationships with banks and financial institutions; negotiate working capital limits, overdraft, export receivables finance and term loans at competitive cost.
- Bid support: secure non-fund-based limits (bank guarantees, performance bonds, letters of credit) so the company can bid for larger domestic and international contracts.
- Treasury: manage multi-currency banking, EEFC accounts, foreign currency conversion, hedging and deployment of surplus funds.
- Bank compliance: keep facilities in good standing through covenant monitoring, book-debt statements, CMA data, timely renewals and credit rating management.
- Growth funding: evaluate debt, equity and government-backed options (such as CGTMSE or SIDBI schemes where eligible) and recommend the right funding mix to the CEO and Board.

6. Internal controls, governance and risk

- Design and maintain internal financial controls, delegation of authority and approval matrices.
- Establish and enforce finance policies covering procurement, expenses, revenue, credit and capitalisation.
- Maintain a finance risk register covering foreign exchange, credit, tax and contract risk.

7. Payroll and people cost

- Oversee payroll accounting and statutory deductions (PF, ESI, PT) in coordination with HR.
- Report headcount cost, utilisation and cost per billable resource to leadership.

8. Elfonze Foundation and CSR

- Maintain separate books of account, bank accounts and fund-wise records for the Elfonze Foundation.
- Manage CSR obligations under Section 135 of the Companies Act, 2013: CSR policy, annual action plan, spend tracking and CSR Committee reporting.
- Keep the Foundation's registrations and filings current, including CSR-1, 12A/80G and FCRA where foreign contributions apply.
- Track fund utilisation against approved programmes, issue utilisation certificates and report to donors and partners.
- Coordinate the Foundation's audit, CSR impact assessment where required, and annual CSR disclosures.
- Apply financial controls and due diligence to implementing partners, grants and programme payments.

9. Team, systems and process

- Lead, hire and develop the finance team with clear roles, targets and succession.
- Own the finance ERP and reporting tools, and drive automation of close, billing and reporting.
- Work with the Oracle and SAP practices where internal ERP improvements can also serve as client references.

Who you will work with

- CEO and leadership team: performance reviews, business cases and funding.
- Delivery and practice heads: project margins, revenue recognition and billing milestones.




- Sales and international leadership (USA and UAE): bid pricing, contract terms, and payment and tax clauses.
- HR: payroll, people cost and incentives.
- Banks and financial institutions: credit facilities, guarantees, trade finance and treasury.
- External stakeholders: auditors, investors and advisers.

What we are looking for

Essential

- Chartered Accountant; CMA or MBA (Finance) with equivalent experience considered.
- 12–18 years in finance and accounting, with at least 5 years leading a finance team.
- Experience in an IT services, consulting, technology or SaaS company with multi-country operations.
- Hands-on Ind AS 115 revenue recognition across fixed-price, time-and-materials, staff augmentation and subscription contracts, including unbilled revenue and WIP.
- At least 3 years of international finance experience: cross-border contracts, export of services and overseas receivables.
- Working knowledge of FEMA/RBI reporting, transfer pricing, withholding tax and DTAA.
- A track record of clean statutory audits and on-time monthly closes.
- Proven cash flow management and banking relationship experience, including negotiating fund-based and non-fund-based limits and steering a business through tight liquidity.
- Strong ERP experience (Oracle Fusion preferred; SAP, Zoho or Tally acceptable) and advanced Excel and financial modelling.

Desirable

- Exposure to US finance and tax (federal and state), and to UAE or wider GCC VAT and corporate tax.
- Experience setting up or running an overseas subsidiary or branch, including US GAAP or IFRS reporting.
- Involvement in fundraising, investor reporting or finance due diligence.
- Familiarity with CSR accounting, BRSR, ESG reporting or IFRS S1/S2.
- Experience implementing a finance ERP module or reporting automation.

Key competencies

- Commercial acumen: reads a contract or bid for its cash, margin and tax consequences, not just its accounting.
- Business partnering: explains numbers plainly to delivery and sales leaders and shapes their decisions.
- Control mindset: builds processes that stay compliant as the business scales across countries.
- Analytical rigour: models scenarios quickly and spots margin leakage early.
- Resilience under pressure: keeps the business funded and calm through cash crunches, delayed payments and market uncertainty.
- Leadership: builds a lean, capable team and delegates well.
- Integrity and confidentiality: handles financial, payroll and investor information with discretion.

How success will be measured

- Timely monthly closes and accurate management reporting.
- Clean statutory audits with no material qualifications.
- Budget adherence and cost optimisation.
- Project margins delivered at or above approved floors.
- Lower unbilled revenue ageing and improved collection efficiency (DSO).
- Healthy liquidity and cash runway, with adequate bank limits in place to fund growth and bids.
- Lower cost of funds and strong, well-maintained banking relationships.
- On-time statutory, overseas and Foundation filings, with zero penalties.
- Investor-ready board packs and data room available on request.
- A strong, well-documented finance team and processes.

First-year priorities

1. Within 30 days: assess the finance function and present a gap report.
2. Within 3 months: project profitability reporting, an international tax and FX approach, and a banking and working capital plan in place.
3. Within 12 months: a fast close, a clean audit and a routine 13-week cash forecast.

📌 General Manager – Finance (Bengaluru)
🏢 ElfOnze Technologies
📍 Bengaluru