3. Evolution of function - mozambique Centralized Function (3 Entry Operators, 2 Supervisors & 1 FM) Decentralized Function (7 Branch operator/supervisors, 2 HO executives FM + FC
4. F&A tools for better control Use i-olam Demand daily update into system by Supervisory staff OMIS usage for monthly control over field assets (Stocks, Debtors, LBAs, cash) Ensure correct entry into i-olam to avoid mindless reconciliations Devote half day every week to ensure system is on track Seek clarity rather than accept current practise
13. Engaging with Statutory authorities for arrangement of preferential tax structure, timely and cost effective settlement of Tax assessments
14.
15. F&A: Top 10 current challenges PFB: Timely primavera information (without manual intervention) Cotton: Timely Funding Cotton: Input stocks recon Imports: Contracts and debt acknowledgment with 100% parties (Currently 150 plus parties) Imports: Accurate monthly stock reports Timber: Ensuring compliance with changing regulations Timber: Tracking processing efficiencies Cashew: Plant payroll automation Institutionalizing monthly review process Correct booking of costs at input level in branches Unlock value through Government engagement General: Effective replacement of Chief Accountant General: Weekly discipline of document updation
16. F&a: top 10 future challenges Providing IT support across the country Creating a mark for the function in the global context System implementation for farming businesses with SSO support System implementation for Cotton business (Outgrowers, ginning, PRODEA) Business support for implementation of Palm Oil factory in Beira Extensive usage of OMIS within Mozambique Continuous training of Operation managers on critical control issues IFRS adoption by Olam Mozambique Stabilize decentralized team for effective delivery Unlock value through preferential tax rates
17. Authorization matrix Expenses (In normal course of business) DC ID Expenses (abnormal nature) Capex Business related Admin Assets Asset Disposal LBA Advances / Trade Debtors Contractual Commitments Tax payments
18. Authorization matrix – some imperatives Cash Payments: No self authorization No post payout approvals Every signature with a date Lack of supporting dox should be an exception and not a rule Bank payments: Dual signatory Bank Account wise limits? Senior national staff as second signatory?