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Tag Archives: Finance Effectiveness

Salesman Of The Year Goes To …. Your Accountant!

Sr. Finance Professional, Unilever

Arun Sriram, Sr. Finance Professional, Unilever

One can quite easily spot an accountant in an organization during a floor walk. You need no directions to find them. He is that one person whose office is situated close to the seat of management. Yet, with a sense of detachment, goes about his business with minimal influence of the action that dictates the business leadership’s excitement.

The one whose mother tongue is excel. The one who thinks smiling a bit extra would leak dollars from his teeth.

Come to think of it at a slightly deeper level, the accountant’s profile has two components. By an accountant, I am including the CFO and the Controllership org in entirety.
One is more straight forward – as a custodian of the investor’s wealth. So there is a natural tendency to be guarded about information sharing. Continue reading

CFO as a business partner

Deepak Narayanan, Co-Founder, MyCFO

Deepak Narayanan, Co-Founder, MyCFO

With increasing complexity in the business environment, CFOs need to work closely with key stakeholders in drawing up risk mitigation plans

Every finance department and CFO aspires that the function that he/she leads adds value to the business. Finance and the role of a CFO in being a driver rather than just being a record keeper is now a part of virtually every finance transformation session. Most of us are aware of the role of a CFO in being able to contribute to the company’s strategy, growth, work with cross functional teams, manage and lead board discussions and investor relations and build robust systems. While these are part of the daily discourse on the role of a CFO and also a part of their job descriptions, there are areas where CFOs and finance teams are doing interesting work to improve the effectiveness of the finance function and contribute to the business. Here are my three picks:
Continue reading

CFO-HR Harmony towards common business goals

Venkataraman Srinivasan Founder & Director

Venkataraman Srinivasan
Founder & Director

“The company benefits immensely if the finance and human resource functions are in accord”

The HR Head and the CFO are the respective leaders of the ‘soft’ and ‘hard’ domains in a company. The former deals with people,culture, and behaviour – the soft side;the latter with data, facts, and money – the hard side. While these may look like completely divergent functions, for a company’s success, they need to be in harmony.Most crucial decisions are usually taken collectively, often with unanimous feedback from both the soft and the hard sides of businesses. Continue reading

How to get the best from your CFO

Mr. Vijay Krishnamurthy, Executive Director & Lead CFO Partner, MyCFO

Mr. Vijay Krishnamurthy, Executive Director & Lead CFO Partner, MyCFO

Traditionally, the CFO represents the Finance function, just as the CMO represents the Marketing function, the CTO the Technology function and so on. Within the finance function, the CFO is expected to deal with accounting, taxation (both direct and indirect), banking, auditing, working capital management, risk management, corporate governance, internal controls, investor relationships (esp. relevant in case of a listed company), budgeting, costing. He has also to deal with various tax authorities (income tax/service tax/customs/excise/VAT etc. depts.), external stakeholders (customers and vendors for important commercial negotiations, auditors, govt. depts., stock exchanges and analysts in case of a listed company and private equity and VC investors in case of a private company), Board members (to explain the company’s performance, satisfy them regarding the company’s corporate governance processes etc.), company executives (i.e. heads of other functions and colleagues within the company in connection with the company’s operations), CFO’s of other companies (to share knowledge/information that may be useful to each other) etc.. Continue reading

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

Case study – Hospital care

MyCFO HealthcareOur Client

Hospital Care is amongst the top 10 hospital chains currently operating in India and operates 10 hospitals in Maharashtra with a bed capacity of approx 750.  The chain is Private Equity backed and is in the middle of a significant expansion plan.  Management expectations are for Finance and Accounts (F&A) department to provide visibility on Return on Investments from the new facilities, capacity utilization, hospital profitability and Return on Capital Employed (ROCE).  The Hospital also runs ‘health care delivery’ centers and specialty labs within each of the hospitals that they operate. Continue reading

CFO’s role in mentoring the F&A team and improving the F&A team effectiveness

Mr. Koushik Krishnan

Mr. Koushik Krishnan

By Mr. Koushik Krishnan, Regional Manager, accounting & control, A-PAC, Tetra Pak
Mentoring – building great teams to manage the madness

I handle a somewhat large role in a somewhat large organisation. My work spans 6 time-zones, 9 markets and a billion euro in turnover.

Last week, I got laid up with a slip disc. With Q3 close and the budget season in full swing, this was not exactly the best time to be laid up. So, here I was, trying to juggle decision making, tactical overseeing, putting out team fights, participate in corporate future gazing, get the team ready for an upcoming audit, and the list goes on. And also, squeeze some time for rest and therapy when the body gave way. Continue reading

Why the onus of fine balancing solely rests on CFO in a startup

Deepak Narayanan, MyCFO

By Deepak Narayanan

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.

Chemistry

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