Mission: Mission: To provide timely, accurate, clear and complete financial and business information to support local operations (LITC) and the Lennox International business.
The Finance department at LITC is a fast-growing team which is often referred to as the “Center of Excellence” for the Global Finance and Accounting team and adds value to all the business segments across LII. Our team handles a very balanced portfolio and display strong competencies such as technical knowledge, system knowledge and language proficiency. We provide process efficiencies and cost control, making an enormous difference by aligning operational model with business strategy, and are strongly focused to ensure growth in the core business, continuing to add value and exploring new frontiers.
There are various teams within the finance department, who are responsible for bookkeeping, procure to pay, asset management, treasury management, legal and contract, accounts payable, global expense reporting, Hyperion, blackline administration, inventory management, telecom and invoice management, duplicate tool and vendor reconciliation, customer financial services, technical accounting, robotic process automation, governance risk and compliance, WWR support, factory reporting, financial reporting, statutory compliance, audit and payroll management, expense reporting, budgeting, forecasting, head count planning, cost control, procurement, variance analysis, etc.
LITC Corporate Accounting / LII Shared Service Corporate Accounting Support / Financial Month-end Support / Lease Accounting / Factory Accounting / Taxation / Fixed Asset Management / Treasury.
Technical Accounting: Technical Accounting Solutions is a progressive new concept in accounting and finance department. The team is a set of accounting professional with experience from various Industry sectors and are certified professionals who are guaranteed to be immediately productive, for any global requirements.
Tax Management: This team adheres to all the local statutory needs and embarks quality in processing, complying, predicting, adapting to the Indian Accounting/Financial standards. Quality & Accuracy are the key elements of the function and the team invests on new talents and adding capabilities.
Lease Accounting: This team manages the lease portfolio for LII as per the newly adapted accounting standard ASC 842 and the US-GAAP standards and has successfully implemented new processes and systems in place. The team also play an integral part in filing the 10-K & 10-Q reports.
Treasury Management: This team effectively manages the treasury by currency hedging / Cash forecasting / collections / disbursements, concentration / investment and funding activities.
Accounts Payable / Telecom & Asset Management / Expense Reporting / Customer Financial Services
Accounts Payable: A versatile team consisting of accounts payable specialists having technical expertise in SAP, invoice processing, vendor reconciliation, query handling, credit memo postings and automating repetitive process to improve productivity.
Accounts Receivable/Customer Financial Services: This team works on processing and reviewing credits for returned parts, adjustments to sales orders raised, corrections to the tax portion in sales orders, recover vendor credits on warranty parts, and registration of warranty claims.
Expense Reporting Team: A multifaceted team consisting of Concur & SAP experts, possessing skills that adhere to the company’s T&E policy. Their focus is towards building T&E analytics and providing the management with decisions on cost avoidance and key negotiations.
This function plays a crucial role for LITC by performing budgeting, forecasting, and analysis that supports major corporate decisions of the CTO, CFO, and key management decision committee at LII.
Internal Audit & SoX Compliance: This team helps in providing assurance about the organization’s risk management facility, governance, and internal control through their auditing expertise.
Governance Risk & Compliance: This team aims to synchronize information and activity across governance, and compliance in order to operate more efficiently and enable effective information sharing, and report activities more effectively. GRC typically encompasses activities such as corporate governance, enterprise risk management (ERM) and corporate compliance.
Automation transforms your business process by utilizing a combination of deep industry knowledge and technology to administrate innovation and business growth while effectively reducing operating costs. This team consists of highly experienced professionals who perform end to end responsibilities in line with automation.