Cost Control Officer at Ascentech Services Limited

Job Description

• We are seeking a highly skilled and detail-oriented Cost Control Officer with prior experience in the hospitality industry to join our team. 
• The ideal candidate will have hands-on experience in cost management, budgeting, and financial analysis, with proficiency in using Odoo software. 
• As a Cost Control Officer, you will be responsible for monitoring and controlling costs, analyzing financial data, and providing recommendations to ensure the profitability of the organization.

Responsibilities
Cost Monitoring and Control:

• Track and monitor all costs within the organization, including food and beverage, labor, operational supplies, and overhead costs.
• Analyze monthly financial statements to identify discrepancies and suggest cost-saving measures.
• Conduct regular audits of inventory and usage to ensure accurate accounting and cost-effective purchasing.

Budgeting and Financial Planning:

• Assist in the preparation of annual budgets and forecasts, ensuring they align with business objectives.
• Review monthly financial performance against budget, providing detailed variance analysis.
• Recommend adjustments to improve financial performance and minimize wastage.

Odoo Software Utilization:

• Use Odoo software to record and track costs, inventory, and purchase orders.
• Ensure Odoo reports are accurate and up-to-date for internal and external financial reporting.
• Analyze Odoo data to provide actionable insights for better financial management.

Cost Reporting and Analysis:

• Prepare and present cost reports to senior management, including key metrics such as food cost percentage, labor cost percentage, and overall operating expenses.
• Conduct in-depth cost analysis and suggest strategies for minimizing costs while maintaining quality and efficiency.

Procurement and Vendor Management:

• Work closely with the procurement team to ensure competitive pricing and cost-effective purchasing decisions.
• Establish and maintain relationships with suppliers to negotiate favorable terms and pricing.

Process Improvement:

• Identify opportunities to streamline processes and improve cost control measures across the organization.
• Implement best practices to improve efficiency and reduce waste in operations.

Requirements

• Minimum of 2 years of experience in cost control or financial management within the hospitality industry.
• Proficiency in Odoo software (previous experience using the system is required).
• Strong understanding of hospitality cost structures and financial analysis.
• Excellent communication and interpersonal skills.
• Detail-oriented with strong analytical and problem-solving abilities.
• Ability to work independently and in a team environment.
• HND/Bachelor's degreein Accounting, Finance, or a related field is preferred.