Cash flows can be the one of the strongest indicators of an e-commerce business’s success or failure.
Cash flow in simple terms is the difference in time between when you get paid and when you pay. The sector has been in the news and is seen as one of the fastest growing amongst new age industry sectors in the next decade. With significant foreign investments in the sector in the last three years alone, Continue reading →
The one key element that has changed the way of doing business is the flow of information. The new-age CFO must now realise that he is no longer expected to linger in the background and surface every time the results are to be announced.
As the one person in the organisation who has intimate knowledge of both the past performance and the expected future growth, it becomes his responsibility not only to steer the company towards a better future but also be able to provide a transparent, big picture view of the future, to internal stakeholders, customers and investors. Continue reading →
A start up is much like the car that all driving schools have with two sets of controls, one with the promoter and the other with the CFO. It is upto the CFO then to determine whether and when to accelerate and when to apply the brakes on the fast growing start up’s growth. Here’s a look at some of the challenges that the CFOs are likely to face in their roles in a start up.
In a startup, the CFO is supposed to play the role of the trusted confidante of the entrepreneur, who might have opposing views to the promoter. A key challenge for the CFO is to walk the tightrope between his role and mindset, where one is telling him to tread cautiously and the other urging him to take risks. He also needs to be able to convince the promoter that sometimes divergent views are key to arriving at the company’s shared goal in the most effective manner. Continue reading →
Digimed is an Indian group in the digital media space which has been acquired by a leading media house based in Europe.
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 →