From Chaos to Systemic Business Value
Welcome to my professional resource. I am Dmitry Dodenko, a strategic CFO and practitioner with over 20 years of experience in manufacturing, construction, and trade.
I created FinManagement.com.ua to systematize knowledge on transforming finance departments into strategic business units.
My Professional Philosophy
I do not just manage finances – I create business value.
My goal is to improve efficiency and increase the capitalization of the company. I believe that a strategic financial leader must look beyond the balance sheet and act as a partner in business development.
Real-World Experience & Results
I do not theorize about business; I implement changes that generate cash. Below are selected cases from my career:
Heavy Machinery – Dniprovazhmash
- The Challenge: The business operated across three countries without a unified consolidated accounting system, leading to a lack of transparency.
- The Solution: Built a management accounting system for a separate business line and implemented financial consolidation across 3 jurisdictions.
- The Result: Achieved full control over currency risks and ensured complete business transparency for shareholders.
- Methodology used: Budgeting as a Business Navigation System: From “Shackles” to Modeling
Metallurgy – Module-Ukraine
- The Challenge: Traditional sales strategies ignored real product margins, while “toxic KPIs” motivated managers to chase gross volume instead of net profit.
- The Solution: Implemented a new motivation system and product strategy based on Throughput Accounting (TOC) principles.
- The Result: Significantly accelerated asset turnover and increased monthly profit by 9 million UAH.
- Read the detailed analysis:
Machinery – Dnipro Machine-Building Plant
- The Challenge: Lack of a unified information system for complex manufacturing processes.
- The Solution: Personally organized and successfully managed the “from scratch” implementation of an ERP system (based on 1C/BAS).
- The Result: Full automation of accounting (including IFRS), transparency of production, and minimization of human error.
Chemical Industry – Perechin Timber-Chemical Plant
- The Challenge: Production planning based on “gross output” hid true profitability.
- The Solution: Changed the planning algorithm, moving away from “weighted average cost” to focusing on marginality.
- The Result: Generated an additional €50,000 per month by cutting off unprofitable contracts that previously appeared profitable.
- Insight:
- Weighted Average Cost Is a Fiction (&.FINANCIER, No. 1-2, 2010)
- Costing Traps (Part 2)
Construction & Development Holdings – Avatar, Rost-Development
- The Challenge: Loss of cost control across remote sites and liquidity gaps.
- The Solution: Developed a rigid budgeting system and document flow regulations (“approval before payment” principle).
- The Result: Shifted from “post-mortem” accounting to real-time cost control. Owners now see project financial results before completion.
- Industry Recognition: Invited speaker at the CFO Club Summer Session, presenting this case study: “Practical Experience of Building a Budgeting System in an Investment & Construction Company”.
- Related Strategy: Modern Cash Management Opportunities (&.FINANCIER, No. 6, 2007)
Why Is This Resource Useful for You?
On this website, you will not find dry academic lectures. I share tools and insights proven in practice:
- Practical Cases: Deep dives into how to avoid the “cost trap”, make correct pricing decisions, and manage liquidity.
- Proven Methodologies: I explain the logic behind the budgets, financial models, and regulations I develop and use personally.
- Expert Analysis: Real-world insights into management accounting, ERP implementation, and strategic planning.
Professional Status
Current Location: Dnipro, Ukraine.
Availability: I am open to professional cooperation and CFO / Finance Director roles within Ukraine.
Credentials:
- CAP Certified (CIPA Program)
- Expert in IFRS & Management Accounting
