Ouchokol Lawrence

Experience

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  Ridar Hotel Limited

  Jan 2015 - Jul 2016

  Cost Controller

  I was responsible for managing and controlling the costs within the hotel. This involved monitoring and analysing expenses, developing cost saving strategies and ensuring budgets and expenditures meet the financial policies of the hotel.• Collaborated with department heads and management to create annual budget for various departments within the hotel. These budgets outlined expected revenues and expenses for better cost control.•Continuously monitored and analysed departmental expenses against the budgeted figures. Identified areas where costs are exceeding budget and investigate the reasons behind these variances.•Monitored inventory of goods and supplies in the hotel, Implemented inventory control measures to minimize waste and pilferage.•Maintained relationships with suppliers and ensure timely deliveries to minimize shortages in supplies.•Reviewed and approved purchase requests and invoices from various departments to ensure they are within budget and comply with established policies and procedures.•Developed and implemented cost-saving strategies without compromising the quality of service. Re-negotiated contracts and explored alternative suppliers after market survey.•Worked with user department heads to create purchases forecast based on bookings and reservations. Used these forecasts to guide decision-making in realizing time value of money through minimizing over stocking and wastage.•Prepared regular financial reports, including cost analysis reports, variance reports, and trading account, to provide cost management insights to management and department heads.•Menu Engineering and costing: Worked closely with the culinary team to analyse menu profitability, adjust pricing if needed, and identify popular or unprofitable menu items.•Implement waste reduction strategies, especially in food and beverage areas, to minimize food wastage and associated costs. This involved using reservation data to make informed decision on purchases. Show less

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  Eastern Rice Company Limited

  Aug 2016 - Apr 2018

  Accounts Assistant

  While working as Accounts assistant, I was charged with the responsibility of supporting the Finance department to process invoices, accurately record financial transactions reconcile donor accounts and coordinate all company operations. My tasks and achievements included the following.•Managed the accounts payable process such as processing invoices, issuing cheques, verifying accuracy.•Ensured timely payments to suppliers and vendors to minimize shortages in raw material supplies.•Issued invoices to customers, tracked payments, and followed up on overdue accounts. •Handled data entry tasks, including inputting financial transactions into spreadsheets accurately and detailed.•Prepared detailed income reports, expense and activity narrative reports for all donor funds advanced to eastern rice for AVSI SKY 1 Project.•Processed payroll, including calculating and verifying employee days, deductions, and taxes to ensure that employees are paid accurately and on time.•Monitored inventory of goods and supplies in the hotel, particularly in food and beverage departments. Implement inventory control measures to minimize waste and pilferage.•Negotiated with suppliers to secure the best pricing and timely deliveries for goods and services. This involved maintaining good relationships with suppliers and ensure timely deliveries to minimize shortages in supplies.•Reconciled bank statements with the company's financial records to ensure that all transactions are accurately recorded for both AVSI Sky 1 Project and Eastern Rice Company.•Performed various administrative tasks such as filing, record-keeping, and maintaining organized financial documentation.•Maintained professional Communicating with colleagues, suppliers, and customers to resolve financial inquiries and discrepancies promptly.•Created and monitored daily budgets, including tracking expenses against budgeted amounts and reporting any variances to the head office for more cash replacement. Show less

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  Innovativelawrence.wordpress.com

  Apr 2017 - Jun 2024

  Founder

  About usInnovativelawrence.wordpress.comCost Management Consultants for Hospitality IndustryWelcome to our world of cost management in the dynamic and diverse hospitality industry, encompassing hotels, bars, and restaurants. I am Lawrence Ouchokol, and we are passionate about helping businesses in this industry achieve financial success while delivering exceptional guest experiences and costs management.A Culinary JourneyMy journey in the hospitality industry began with a love for great food, captivating atmospheres, and impeccable service. I have always believed that hotels, bars, and restaurants hold the power to create unforgettable moments for their guests, and I am dedicated to ensuring that these establishments can do so profitably.A Comprehensive ApproachWith over (6) years of hands-on experience in cost management for hospitality, I have had the privilege of collaborating with a wide spectrum of businesses, from restaurants to cozy hotels and trendy bars. Our mission is clear: To assist hospitality businesses in optimizing their operations while preserving their unique identities and charm.Elevating Your BusinessHospitality businesses face multifaceted challenges when it comes to cost management. Our approach is centered on understanding the intricacies of your establishment and crafting tailored strategies to drive profitability without compromising the quality of service you provide.What Sets us ApartMulti-Sector Expertise: we specialize in the entire spectrum of hospitality, including hotels, bars, and restaurants, allowing us to offer comprehensive solutions.Data-Driven Insights: we leverage advanced analytics and technology used in hospitality industry to provide data-backed recommendations that empower your business decisions.Collaborative Partner: We consider ourselves an extension of your team, working closely with you to implement cost-saving strategies that align with your unique vision. Show less

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  Ridar Hotel Limited

  Jul 2018 - Mar 2020

  Internal Audit Assistant

  As an internal Audit Assistant, my primary role was to identify risks and recommend improvements to enhance financial and operational effectiveness. Some of my tasks and achievements included the following.•Performed night audits to reconcile daily financial transactions, ensure accurate room charges, and prepare reports for the next day's operations.•Conducted daily and periodic audits of revenue-generating departments such as rooms, bar, food and beverage, and health Club to ensure accuracy in billing and cash handling.•Reviewed and verified expense reports, invoices, and receipts to ensure proper documentation and compliance with the hotel's financial policies.•Monitored and audited inventory levels, especially in areas like Stores, the kitchen, Bar, health club and housekeeping, to minimize waste and optimize supply management.•Verified guest charges and billing accuracy both at the reception, banqueting, and all sales point resolving discrepancies and ensuring guest satisfaction.•Monitored cash handling procedures, including cash registers, safes, and bank deposits, to prevent theft or mismanagement of funds.•Prepared audited revenue reports summarizing, all expenses and revenue collected from all sales outlets.•Identified opportunities to improve operational efficiency, cost control, and revenue generation within the hotel.•Handled financial inquiries and disputes from guests in relation to billing in a professional and courteous manner.•Assisted the finance team in collecting stores data for creating and monitoring of the hotel's budget and decision-making.•Used hotel management software for accurate record-keeping and reconciliation of the guest bills, booking and accommodation details.•Identified and assessed the risks associated with hotel book keeping at the reception and suggest use of receipts also to mitigate revenue losses from accommodation. Show less

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  The Roots Restaurant

  May 2020 - Oct 2021

  Cost Controller

  As a cost controller, my first task was to design internal control systems, implement and monitor the control procedures. I was responsible for monitoring and analysing expenses, developing cost saving strategies and ensuring budgets and expenditures meet the financial policies of the Restaurant.•Designed internal control systems, implemented and monitored the control procedures.•Regularly prepared food and beverages cost reports clearly providing insights on areas with high costs and improvements.•Menu costing. Worked closely with the culinary experts to analyse menu profitability, adjust pricing if needed, and identify popular or unprofitable menu items•Ensured Purchase Requests are made in a timely manner to prevent stock outs and overstock situations.•Coordinated with all suppliers to ensure timely delivery of goods.•Inspected and verified received goods for accuracy and quality, Shelf life, and Condition.•Updated inventory records upon receipt of new inventory items.•Handled discrepancies, damages, or quality issues by coordinating with suppliers and director.•Reviewed and approved purchase requests and invoices from departments ensuring they are within the established policies and procedures.•Promoted cost-effective and responsible use of Restaurant supplies.•Prepared stock and purchases analysis reports highlighting variance in inventory and deliveries.•Identified areas where costs are exceeding budget and investigated the causes of the variances.•Minimized wastage and pilferage by monitoring inventory movement of goods and supplies.•Minimized wastages by creating purchases forecast based on daily and weekly demands.•Conducted internal audits to ensure compliance with internal cost control policies and procedures. Identified any instances of fraud, waste, and take corrective action.•Trained department heads and staff on best cost control practices including inventory management. Show less

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  Sleak Mart LTd

  Nov 2021 - May 2023

  Finance and Administration Assistant

  The Sleak place is a Restaurant and bar business that also offers Car wash services, I was headhunted to manage employees and company finances. Some of my tasks and achievements included the following.•Maintained accurate financial records, including accounts payable and receivable, expense reports, and financial transactions.•Prepared and monitored daily budgets, as well as providing financial data and accountability for all expenditures incurred daily.•Processed invoices, verified expenses, and ensured timely payments to vendors and suppliers to minimize shortages in supplies•Monitored and managed employee expense reports, ensuring adherence to company policies. These included feeding, uniforms and transport•Reconciled bank statements with accounts receivables from all payments platforms such as VISA, Pesapal, MTN mobile money and Airtel Pay to ensure accuracy and resolve discrepancies.•Prepared Trading Account reports, Food and Beverages Cost Reports, for management review, including profit and loss statements.•Processed Payroll, including data entry and verifying attendance Books.•Handled general administrative tasks such as organizing weekly and monthly staff meetings, filing employee data, and maintaining office supplies.•Maintained proper filing and archiving of financial and administrative documents including tax information for compliance purposes.•Ensured that company Taxes are remitted on time and company policies are followed.•Ensured that billing software, spreadsheets, and other relevant tools are checked daily to minimize fraud related to wrong pricing and billing.•Generated daily expense reports and assisted employees in submitting their expenses accurately.•Monitor all company property and inventories to ensure proper levels without causing burdens on property cash flows. Show less

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  Protea Hotel By Marriott Kampala

  May 2023 - Oct 2023

  Assistant Cost Controller

  While working as an Assistant cost controller, I was responsible for ensuring that all adopted policies and procedures on stock controls and cost controls are duly complied with. Organized and supervised the food & Beverages stock counts and reconciliation.•Maintained an organized and efficient inventory system for all hotel supplies and equipment.•Monitored and maintained inventory levels while minimizing overstock and under stock situations.•Conduct regular inventory counts and reconcile discrepancies.•Regularly assessed inventory levels and anticipated supply needs based on upcoming demands.•Conducted food & beverages costing to determine suggestive selling prices.•Prepared Daily revenue report (Revenue Flash) and submitted to finance Manager before 9Am•Prepared Mid-Month and end-month Food and Beverages Cost Reports.•Implemented inventory control measures to minimize waste and pilferage.•Reviewed purchase requests and invoices from procurement ensuring they comply with established policies and procedures. •Worked with procurement to plan for purchases and timely delivery of stock orders.•Ensured that billing software MICROS is checked daily to minimize fraud related to bill splitting, tactical bill delays to minimize revenue losses.•Maintained proper filing and archiving of inventory records for compliance purposes. Show less

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  Latitude 0°, Kampala

  Jan 2024 - now

  Cost Controller