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How can CFOs lead and change through the challenging times

Mr. Jagdish Agrawal , MyCFO

Mr. Jagdish Agrawal

Mr. Jagdish Agarwal is the CFO at Owens Corning India.

Today’s business world operates in VUCA (Volatility, Uncertainty, Complexity and ambiguity) scenario and that demands a CFOs role beyond the traditional boundaries. Now the expectation from CFOs is not limited to financial matters alone but they have to partner and support CEO to drive the business and maximize the shareholders value. CFOs are custodian of the shareholders wealth and considered next to CEO with lots of expectations. I think there are five critical areas that need CFOs focus and attention to drive planning, performance and maximize the shareholders value. Continue reading

Client Case Study – Digimed

MyCFO Media DigimedClient

Digimed is an Indian group in the digital media space which has been acquired by a leading media house based in Europe.

MyCFO Role

MyCFO plays the role of a Controller reporting to the Group CFO based out of Netherlands. The mandate is to streamline the accounting, compliance and reporting function in line with the group’s global practices. This entails booking revenues and costs based on accounting conventions and principles in line with Indian GAAP and IFRS, authorizing and tracking of expenses, liaise with the auditors for accounts finalization, setting the India budgets, managing and forecasting future cash flows, getting involved in monthly review meetings with the India CEO and the Group CFO, measuring business performance by setting up profit center accounting and reporting, improving operations by implementing an IT solution to track time to enable the management to take decisions on efficiency and pricing, drafting SOP’s for key business processes amongst others. The role comes with accountability to deliver results that an in house Controller/CFO would take on had there been one. Continue reading