Verified Expert in Finance
Travers is a chartered accountant who has a 16-year career of work in senior financial positions across retail, engineering, and startup industries for companies such as EY, Babcock, Massmart, and Nu-World. His last role was that of a CFO at a Johannesburg retail listed company with a turnover of $250 million. Travers enjoys freelancing as it provides him with the opportunity to work across a variety of industries and challenging projects, including financial modeling and fractional CFO roles.
- Co-authored the article Combined Assurance: Is Your Organization Adequately Assured?, published on bbrief.co.za, and The Single Most Important Article For Websites in 2019, posted on njin.co.za.
- Defined financial KPIs for a retail company, which included determining the formulas and chart of accounts used and resulted in a growth of 10% in most of the KPIs.
- Developed a transfer pricing policy for a global shipping company with offices in South Africa. The approach allowed the company to continue trading in South Africa with revenues in excess of $50 million.
- Raised $5 million as the fractional CFO of a renewable energy business in South Africa, set up the governance and relative financial processes, and assisted in defining the strategy focusing on growth opportunities.
- Served as the founder of a medical cannabis business in South Africa. Developed the business plan and financial model, currently in the process of raising funds.
- Directed the finance team of a construction company as a fractional CFO, overseeing improvements in efficiencies within the finance department. Implemented financial processes that allowed them to win a project worth $20 million in 2019.
- Built business plans for multiple businesses, including financial statements, scenario forecasting, and risk analysis development.
- Created a budgeting model using a driver-based model for a listed Swedish company. This model was integrated into a budgeting tool and implemented across 100 regions.
- Led the conceptual and detailed design and iterative build phases of an FP&A EPM for a large company.
Controller | Manufacturing
- Developed management accounts with an income statement, balance sheet, and cash flow. The management accounts included a set of graphs and other financial analyses.
- Reported monthly financial information to the founders and management.
- Prepared a debt covenant report as part of a negotiation with a bank.
Controller | Medical Marijuana Dispensaries
- Reconciled the distribution accounts from 2020, considering the various partners and agreements.
- Reconciled the back office allocation process and developed a process flow.
- Improved the control environment by implementing certain procedures, such as the closure of month-end, improving the month-end checklist, and developing process flows.
Nu-World Holdings Ltd
- Implemented a new process in the sales function, whereby sales invoices are scanned together with proof of deliveries. This has reduced paper use and made 250m of warehouse space available, saving $1 million in annual lease expenses.
- Built daily financial reports for the executive committee, which provided an updated business dashboard and increased revenue by 5%.
- Corrected the impairment model, which increased the bottom line by $3 million.
- Responded and cleared accounting and listing requirements queries from the Johannesburg Stock Exchange.
- Developed and filed the annual and integrated report for the Johannesburg Stock Exchange. Further, ensured all respective filings for reports and other announcements were correctly completed on time.
Senior Financial Manager: Shared Services Center
- Improved the control environment in debtor and creditor management and reduced provisions by $20 million.
- Developed and implemented processes in the debtor and creditor functions which passed internal, external, and SOX audits. This included developing a RACM for all functions.
- Identified and cleared non-reconciling items in the general ledger, leading to reconciled accounts for the first time in five years and an improvement in profit of $2 million.
- Led a team of 20 direct and over 300 indirect reports in the Shared Services Center across regions and introduced efficiencies within the teams by re-organizing work and processes to best suit the team.
- Mentored two staff members who progressed in the business and excelled in their new roles.
General Manager: Finance
Babcock International Group
- Selected as one of 25 employees from a universe of 30,000 employees of Babcock International to attend an MBA at the University of Strathclyde.
- Hired SAP payroll specialists to implement SAP Payroll, which improved payroll processes and efficiency and reduced processing times by two business days.
- Merged an acquisition that included valuing the business, finalizing the legalese, and determining the correct accounting treatment. This merger resulted in increased revenue of $20 million.
- Raised $50 million for a vehicle financing division of Babcock.
- Led the Treasury, Taxation, and Statutory functions across the 15 divisions within Babcock Africa for six years.
- Established processes and policies across the financial functions of Babcock Africa, improving inefficiencies in the accounting and finance departments. Developed accounting memos for complex accounting issues.
- Established the accounting function for the educational and vehicle financing division by developing processes and policies.
- Built detailed financial models for possible acquisitions of companies. This included determining the financial valuation and sensitivity analysis. This resulted in raising funding for Babcock and the acquisition of identified companies.
- Developed business plans for possible businesses and ventures identified within the company, which led to the creation of one company valued at $10m.
- Prepared the Strategic Plan for Babcock Africa, which included all the opportunities for growth of $100m. Implemented a review process where the progress against this strategic plan was reported.
- Led a project at the third-largest gold mining entity globally to list a $300 million bond on the London Stock Exchange.
- Conducted the pre-study at a potential client that led to a $2 million project, which assisted a parastatal in identifying its assets and improving its descriptions in the asset register.
- Managed the rationalization of entities project at a global gold mining entity, which reduced costs by $2 million.
- Led audits of South African listed and medium-sized entities for five years, which included entities with revenue of $1 billion.
- Led a project team, of 25 members, at a parastatal to identify its assets and correct descriptions in the asset register.
- Led the audit of a US-listed company, reviewed the SEC filings, and answered any questions directed to the company by the SEC.
Master’s Degree in Business Administration (MBA)
University of Strathclyde - Glasgow, Scotland
Honors Bachelor Degree in Accounting
University of Johannesburg - Johannesburg, South Africa
Institute of Chartered Accountants of Scotland (ICAS)
South African Institute of Chartered Accountants (SAICA)