LUMS is one of the brands our lead consultant Qamar Abbas Sipra worked for

He worked on different positions during his association of 17 years with Lahore University of Management Sciences (LUMS). Improved every area of the finance and accounts and in the process grown to hold the key position of Head, Finance & Accounts Department. His last position had a key role in LUMS decision making. His core assignments & achievements are: 

  • Lead the LUMS Finance & Accounts Department. The department consisted of a team of 25 members of professional staff. His role was to lead the entire operations of accounting (receivable, payables, payroll, banking matters) and generate periodic financial statements.
  • He enhanced the profits on Endowment Fund and Provident Fund for more than 300 basis points since he took over LUMS’ treasury.
  • He designed the basic structure/chart of LUMS accounting system to implement an ERP. Introduced the online receipt system at LUMS and facilitated the students/parents by introducing the collection
  • Enhanced the capacity and efficiency of LUMS Payroll System. Developed a fool proof control process.
  • He contributed significantly to budgeting exercise, especially in estimating salary expenditure and project budgeting.
  • He was responsible for External Audit including retirement benefit audit.
  • He managed a grant of C$ 10.00 million at the very early stage of his career. Prepared budgets, financial statements, and reports for CIDA.
  • He was an integral part of the team at LUMS who designed the project worth US$ 15.00 million, prepared the budget for it and won it from USAID in October 2010.
  • He lead the team while USAID conducted the pre award assessment of LUMS for different projects through a professional audit firm. He was instrumental in getting LUMS selected for this project.
  • In addition to his core assignments, he contributed significantly to LUMS financial aid process and National Outreach Programme.


Description

Services at Lahore University of Management Sciences (LUMS)



When

September 1994 to June 2011 (16 years 10 Months)



Who

Qamar Abbas Sipra, Head of Finance and Accounting Department                                                             

I have found Qamar to be a highly competent and committed professional. He possesses excellent finance and accounting skills. He managed the investment portfolio of our provident fund very effectively that resulted in excellent returns without taking any undue risks. Qamar also played a key role in shaping the finance and accounting systems at LUMS while it was experiencing rapid growth. I have found Qamar to be extremely reliable and a person of highest ethical and integrity standards.

Dr. Syed Zahoor Hassan
Ex VC LUMS, Visiting Professor, Stanford

While with Confiz group, Qamar was able to setup the entities in Singapore, Estonia, UAE, US and Pakistan. Apart from setting up entities, he played an important role in equity financing (over $4.5 million) for various group entities (Confiz & PakWheels.com) and acquisition of Mantaq (a MS ERP implementation company) by Confiz. He has tremendous experience setting up departments, policies and processes. He is very trustworthy, hardworking and a professional with a very high level of integrity.

Muhammad Raza Saeed
CEO, Confiz Limited, PakWheels.com

“Qamar knows how to structure the finance & admin operations and keep evolving them as the company grows. He is a trustworthy, hardworking, honest to the bone, highly professional leader. If you have an early-stage IT services company with an ambition to quickly grow to tens of millions of $ annual revenue – you will hardly find a better partner than him.”

Kashif Manzoor
EX Confiz, current Systems Limited

“Qamar was instrumental in laying a robust foundation that supported Confiz in scaling from a few dozen to well over 500 people spread across multiple companies in 4 countries. He was instrumental in several initiatives including company structure, establishing its retirement fund and employees stock option scheme. In addition to this, his integrity and sense of responsibility make him an extremely valuable advisor for emerging companies, especially in tech space.”

Hashim Ali
Confiz

“The lead consultant Qamar has strong analytical skills, clear and focused approach, understanding and thorough awareness of the organizational objectives. He is methodical, disciplined and has a passion to learn and adapt to ever changing environment. He is a perfect leader to train a young team of any young company”

Asim Butt
EX LUMS, Current DHA Lahore