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CNBC-TV18 show Young Turksfeatured MyCFO
Date: 12-12-2014 Platform/Electronic Media: CNBC-TV18 Source
CNBC Awaaz featured importance of CFO for small entrepreneur #MyCFO
Date: 17-06-2014 Platform/Electronic Media: CNBC Awaaz Source
MyCFO on IndiaMART Leaders of Tomorrow 2013
Date: 28-01-2014 Platform/Electronic Media: ET NOW Source
Date : 01/02/2021 Platform/Online Media:
Practus Appoints Deepak Narayanan as CEO
Leadership restructuring for accelerated expansion, focused people synergies and higher impact delivery to the clients
Date : 21/12/2020 Platform/Online Media:
Practus Advisors which owns the Practus, MyCFO and the MyCXO brands.
Practus Advisors which owns the Practus, MyCFO and the MyCXO brands, has appointed Ms. Aditi Nair as Chief People Officer for the group
Date : 06/01/2020 Platform/Online Media:
MyCFO appoints Ajai Sachchar as Head of Business Development for India
“Practus, the company that owns the MyCFO and MyCXO brands announced the appointment of Ajai Sachchar as India Business Development Head who will drive business development across the CFO and the performance improvement business verticals”, said the company in a statement issued today.
Date : 18/06/2018 Platform/Online Media:
MyCFO Joins Allinial Global
Allinial Global is based in North America, but offers international support by connecting its firms to service providers and global networks of accounting firms worldwide, fostering the independence, profitability, and continuous improvement of its members.
Date : 16/06/2017 Platform/Online Media:Forbes IndiaSource
From seed to tree: finance function and investor delight
Organisations and businesses need to understand that to grow and grow exponentially, they need to have a symbiotic relationship with their investors.
This piece is not about start-ups and young entrepreneurs.
Date : 05/2017 Platform/Online Media:THINK TANKSource
Getting the Promoter-CFO Equation Right
F or most family-managed b u s i n e s s e s t h a t a r e professionalising or raising private capital, getting the CFO appointment ‘right’ is a critical prerequisite. Equally, CFOs who are keen to generate real impact, or even to produce transformational results, love to work with promoter-led companies. Unfortunately, despite this mutual ‘need’, CFO ‘mortality rates’ in family-run businesses remain very high.
Date : 27/04/2017 Platform/Online Media:The CEO MagazineSource
MyCFO leaves its indelible footprints in the ‘Office of the CFO’ Services Space
With India being one of the very few bright spots in the global economy and with buoyant corporate growth rates projected over the next few years, it is irrefutable that there is an inevitable need that the CFO or the CFO’s office matches up to the pace of growth of the business.
Date : 10/03/2017 Platform/Online Media:Forbes India Source
How to move budgeting from an annual ritual to a tool that generates better results
It is that time of the year when you as entrepreneurs or finance professionals will be planning the budget for FY17 - 18. Your budget is a map. Here are some pointers as to how you could draw it.
Date : 18/07/2016 Platform/Online Media: The HinduSource
An outsider for the most vital corporate job
Ask any start-up Founder and CEO how big her company is and she is bound to rattle off revenue, cash-flows and projected profits. But ask her if her founding team includes a finance expert, chances are that the answer is ‘No’.
Date : 06/04/2016 Platform/Online Media: The Analyst- Supply chain and business overview Source
The post budget reaction
The big yearly event- Union Budget 2016- 17 is finally over. Flooded with moxed reactions, this year's budget has struck a right cord with the Rural India and budding Entrepreneurs. With a concerted thrust on infrastructure development and 9 pillars of transforming India, the government seems to be charting growth trajectory in the right direction. What remains to be seen is the fast-track approvals on major pending reforms and the green nod to the much awaited GST. This analysis puts a spotlight on the major trends that India Inc will be witnessing in times to come.
Date : 04/03/2016 Platform/Online Media: TimesJob Source
Do friends make great business partners?
An emotional maturity is pertinent to keep both personal bonding and business relationship separate
S Venkat
Business with friends is like a double-edged sword. Even though they can be the best partners to do business with, given the comfort we share with them, it comes at a cost. Managing business with friends as partners needs a fine balancing act between professional and personal aspects of the relationship
Date : March 2016 Platform/Online Media: CFO Connect Magazine Source
Efficiency of collections – the role of CFO in DSO management
CFO's are the most anxious people when it comes to reducing the number of Days Sales Outstanding (DSO) from customers. After all, they are well aware that if the cash runs, out, one goes out of business! Clearly, there is a growing expectations form CFO's to play a critical role here, and finance organisation are being empowered, even restructured, to make high impact decisions in this area.
CFO's believe that a 'Sale is not complete till all dues are collected', and they have the responsibility of impressing this maximum upon the entire customer-facing team. In this maxim upon the entire customer-facing team. In this respect, they must play a lead role in several ways, from setting the right Key performance Indicators(KPIs) and establishing a credit facility, to improving process efficiencies (including automation), follow-ups and dispute management.
Date : 19/02/2016 Platform/Online Media: TimesJob Source
Cloud App in Finance: Do ROI Justify the Transformation
MyCFO is India's largest and fastest growing brand in the 'CFO services' category working with companies across the ownership spectrum ranging from Family Owned, Private Equity/ Venture Capital backed, Listed, Indian subsidiary of a Multinational to those in the social impact space.
It is recognized that the finance community’s adoption of technology is limited. The view was that each function views the other as a hindrance to their business process flow. While the finance function is driven by the book – accounting standards, compliance, audit, corporate laws and taxes; technology is ever evolving with respect to advancement in platforms, functions, features and access. The change of the millennium bought about winds of change wherein finance function felt the need to crunch the time to record and report, and the technological evolvement was sufficient enough to provide the means. The transition of technology solutions from record keeping to enterprise resource management also enabled considerable freedom in budget allocations for investments in technology.
Date : 22/02/2016 Platform/Online Media: The Hunt Report Online Source
CFO-HR harmony towards common business goals
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.
How to derive the best from both and work towards common business goals
The uniqueness of the role of HR Head and the CFO is that they have a holistic view of the company and are possibly the only two roles that have some independence from the CEO. They bring on the table different perspectives, but ones that are aligned to company values.
Date : 25/01/2016 Platform/Online Media: The Business World Online Source
Budget Is No Longer The 'Holy Grail' Of Annual Planning
Come January and many companies will commence the annual ritual of the Financial Budget. Last year Budget will be dusted off, actual year-to-date performance will be reviewed, next year performance target will be demanded from business heads, numbers will be negotiated, financial planning and analysis (FP&A) folks will crunch and consolidate and voila, the EY 16-17 will be ready!
Certainly, this is how the 'classical' budgeting process works. But is this how companies now do their budget today? A large number of companies no longer follow this approach and even if they do, the Budget is no longer the 'Holy Grail' of annual planning.
Date : 15/1/2016 Platform/Online Media: Data Quest Online Source
Use of Technology to fuel the growth and mitigate the risk
It is an assumption that implementation and use of technology – hardware, software and tools – will result in fueling growth to business. Growth must not be merely defined as top-line growth. It should be inclusive of efficient supply-chain management for inventory control, cash management, fast-tracking period closing and performance management.
Date : 18/12/2015 Platform/Online Media:Consultant review magazine Source
Evolution and future scope of accounting & tax consulting in the Indian Market
MyCFO is India's largest and fastest growing brand in the 'CFO services' category working with companies across the ownership spectrum. Deepak is qualified Charted Accountant with almost 12 years of experience, who leads the MyCFO practice and soecializes in assisting companies to implement their business strategies.
"Every accountant would emphasize the importance of good accounting principals". Doesn't this sounds like a no-brainer to most of us? Looks commonsensical but common sense is rare among humans. We tend to adopt best practices because someone else is doing it or this is 'forced by' regulation and not because we believe we should be doing this. Am I guilty of generalization? Think about it, introspect and see what's happening around you. Do not give examples of what best companies are doing, they are in minority and some of them are doing this for a long time. The majority us where the problem lies. We believe that we are better off than what we were, that's precisely where the issue is. If our standards were < pretty low in the past and that is the benchmark that we are looking at, we may always end up looking better. Consulting is playing a big part in bridging this gap. This article is not about raving about consultants and consulting firms can help companies adopt the best.
Date : 03-12-2015 Platform/Online Media: The Times of India-Career Source
If you are a young CA, here’s what you can do
The young CA can learn from the Big Four, join an SME, a shared CFO services firm or turn into an entrepreneur
S Venkat
Date : 18-11-2015 Platform/Online Media: Business World : Your Story Source
CEO’s role in developing CFO
"Almost in every mid to large cap organization, a CEO is supposed to be the key figure; a pivot around whom is created where organization departments are plotted across the X-axis and the Y-axis is left on the CEO itself for his choice of metric which could be profitability, productiveness, effectiveness etc. as long as the metrics have cross comparability across the corporate functions."
Date: 16-11-2015 Platform/Print Media: Educationm Times Source
Aligning your team with the organization's business strategy
An organisation’s activities and objectives are achieved through its employees. To ensure the organisation’s success, proper and effective alignment of targets and tasks that take place between the company and its employees is critical. This is a continuous process and is not to be done only when the employee joins the company or when a new project begins.
Date : 14-10-2015 Platform/Online Media: Business World : Your Story Source
Building A High-performing Finance Functions
"Business situations by definition come with uncertainties and risks. Ride to growth is never smooth and simple. Companies look at their CFOs as a navigator to guide through all challenging situations. Effective CFOs find ways to get a grip and to navigate through complexities."
Date : 28-09-2015 Platform/Online Media: Business Standard : Your Story Source
CFO as a business partner
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.
Date : 18-09-2015 Platform/Online Media: Business World : Your Story Source
Managing companies’ Payable & Receivables on Business World
"As one to view the strife of elephants who takes his stand, On hill he's climbed, is he who works with money in his hand" - Thiruvalluvar.The above are words of greatest wisdom. In any task, positioning occupies chief importance. When we apply the same logic, successful companies followed the simple theory i.e., ensure cash flow.
Date : 09-09-2015 Platform/Online Media: CXOtoday : Your Story Source
Scouting For The Right ERP Solution
Today, there are many ERP options available in the market. Selecting or making the right choice of ERP Solution for your business is one of the crucial business decisions. While many companies feel that any software or ERP will work and their organizations will simply adapt to the functionality of the software.
Date : 31-08-2015 Platform/Online Media: CXOtoday : Your Story Source
Challenges faced by CEOs in fast growing companies
"There is just too much to do, I wish I had more than 24 hours in a day". This is an oft-repeated line, which we hear CEOs repeat in forums, television programmes and on most occasions in private. One often wonders if this is more of a 'fad', a statement to drive home the point that CEOs are a category of people who are busy and are busy stealing time most of the time to do more with less.
Date : 15-08-2015 Platform/Online Media: ICSI E- Newsletter: Your Story Source
Whether Managerial Remuneration provisions in Section 197 of the companies Act 2013 are applicable to Private companies?
Due to poor drafting in section 197 of the Companies Act 2013 dealing with remuneration provisions and the absence of an explicit provision therein that it does not apply to private companies, there was confusion on its applicability to private companies.Rule 7(2) of the Companies (Appointment & Remuneration of Managerial Personnel) Rules 2014 exempt private companies from the remuneration ceilings but this Rule seems to go beyond section 197(3) and hence ultra vires.
Date : 07-08-2015 Platform/Online Media:: Your Story Source
Avoiding The Corporate Black Holes – A Finance Perspective
The Hollywood blockbuster movie Interstellar by master director and story-teller Christopher Nolan is made on abstract and intriguing phenomenon of black holes and wormholes. Google defines black holes formally as “a region of space having a gravitational field so intense that no matter or radiation can escape”. Informally the definition is “a place where money or items apparently disappear without trace”.
Date : 05-08-2015 Platform/Online Media:: Your Story Source
We manage cash flows better
MyCFO helps companies to manage their cashflow process and also helps in operating cycle of distributor/ dealer linkages, negotiating terms on behalf of the distributor’s/ dealers. Deepak Narayanan, Co-founder and Director, MyCFO talks about the requirement of such services in the pharma sector with Usha Sharma.
Date : 10-07-2015 Platform/Online Media:: Your Story Source
Freelance CFOs, the unsung startup heroes
MUMBAI: Behind every successful startup, there is an unsung hero — the chief financial officer (CFO) and his team of number crunchers, whose efforts make that million-dollar funding possible. If you scratch the surface, it is likely that these number crunchers have been sourced from a CFO service agency, a trend that is gaining popularity in India.
Date : 07-07-2015 Platform/Online Media:: Your Story Source
MyCFO gets Rs 6.21 crore funding from Koticha
Financial implementation services firm MyCFO has raised Rs 6.21 crore in Series A round of funding led by Monik Koticha, second generation entrepreneur from founder promoter of financial services firm ASK Group.
Date : 06-07-2015 Platform/Online Media:: Your Story Source
MyCFO raises under $1M from ASK Group’s Monik Koticha, others
Mumbai-based Wealth Tree Partners, which claims to take full ownership of a company's finance division through MyCFO.in, has raised Rs 6.21 crore ($978,000) in Series A funding from ASK Group promoter Monik Koticha and other investors.
Date : 30-06-2015 Platform/Online Media:: Your Story Source
MyCFO gets funding from Koticha
CHENNAI: MyCFO, which provides finance-related services to clients across industry verticals, has raised $1.5 million (Rs 7 crore) as Series A funding from Monik Koticha of the ASK Group.
"Koticha has invested in his personal capacity for a significant minority stake in the company," sources said.
The funds raised would be utilized towards technology upgradation, geographical expansion and investment in senior talent, sources said.
Date : 29-06-2015 Platform/Online Media:: Your Story Source
Mumbai-based MyCFO raised $1.5 million series-A from Sameer Koticha of ASK Group
"Mumbai-based MyCFO raised $1.5 million series-A from Sameer Koticha of ASK Group. MyCFO offers a suite of services from budgeting to cash flow management to ERP implementation. Deepak Narayanan and S Venkat founded MyCFO in 2006. "
Date : 16-06-2015 Platform/Online Media:: Your Story Source
Emerging opportunities for CAs in the industry
A Chartered Accountant’s profession is generally considered to be very prosperous but is also stressful. With globalisation, technological advancements, complex regulatory framework, evolution of exciting business models and emergence of entrepreneurship as a viable career option, the options for Chartered Accountants today are wider and more exciting.
Times have changed, right? Gone are the days when almost every Qualified CA spent his/her initial years with an audit firm believing that this was needed to strengthen their ‘basics’ and gain the requisite experience before they make their next moves as well. Remember jobs were also not easy to come by and the ones with the entrepreneurial bug would almost invariably slip into ‘practice’. There were others who opted for industrial training in their formative years where they trained with a large company, continued with the company to move up the ranks.
Date : 08-06-2015 Platform/Online Media:: Your Story Source
MyCFO appoints two new executive directors
MyCFO, a leading finance implementation services company, has announced the appointment of Mr. Ramnath Sundaresan and Mr. Vijay Krishnamurthy as Executive Director and Lead CFO partner to the company’s leadership team.
Mr. Ramnath will be responsible for leading the Finance Effectiveness practice wherein he will liaison with CFO's and Finance teams of Mid-to-Large corporates for the overall improvement of effective finance functions of the organization across a spectrum of industries. Mr. Vijay will lead the Business Development, Brand Building and client relationships for the Southern markets of India.
Date : 08-06-2015 Platform/Online Media:: Your Story Source
MyCFO announces appointment of two new Executive Directors
Mumbai, 2015 June VIII: MyCFO, a leading finance implementation services company, has announced the appointment of Mr. Ramnath Sundaresan and Mr. Vijay Krishnamurthy as Executive Director and Lead CFO partner to the company’s leadership team.Mr. Deepak Narayanan, Co-founder & Director, MyCFO
Mr. Deepak Narayanan, Co-founder & Director, MyCFO, said: “The induction of two highly competent professionals to the leadership team is a big step for MyCFO. Both Mr. Ramnath and Mr. Vijay bring in significant business expertise to our business. Apart from infusing new energy in the leadership team, these two appointments reveal the company’s commitment to create value proposition to the customers and will help us scale MyCFO business.”
Date : 08-06-2015 Platform/Online Media:: Your Story Source
MyCFO announces appointment of two new Executive Directors
MyCFO, a leading finance implementation services company, has announced the appointment of Mr. Ramnath Sundaresan and Mr. Vijay Krishnamurthy as Executive Director and Lead CFO partner to the company’s leadership team.
Mr. Ramnath will be responsible for leading the Finance Effectiveness practice wherein he will liaison with CFO's and Finance teams of Mid-to-Large corporates for the overall improvement of effective finance functions of the organization across a spectrum of industries. Mr. Vijay will lead the Business Development, Brand Building and client relationships for the Southern markets of India.
Date : 27-05-2015 Platform/Online Media:: Your Story Source
Calling all Chartered Accountants
WHAT ARE THE DOMAINS THAT OFFER THE BEST PROSPECTS FOR CAREER GROWTH TO CHARTERED ACCOUNTANTS (CA)?
A Chartered Accountant's (CA) life is generally considered to be very stressful; CAs are looked at by everyone around them as boring and the general perception is that this is a category of people who keep staring at their laptops crunching numbers all day.There are several puns directed at CAs including them being one of the `worst social animals', `being obsessed with numbers', `money minded' etc. When one thinks about a CA, normally one associates this category of people with being auditors, helping you file returns, plan your taxes and as people who work in the accounts departments of companies. The fact remains that most Chartered Accountants are in jobs that reflect this general perception.
Date : 18-05-2015 Platform/Online Media: TimesJob : Your Story Source
5 tips for leaders to avoid conflicts at work
Managing conflict is essential to managing competency, says an expert
By design or by default, conflicts in the form of disagreements, struggles and arguments are inherent in a workplace. These are typically triggered by inadequate communication, battle for resources, ego clashes, gossips, cultural differences and value clashes.
Date : 15-05-2015 Platform/Online Media: Financial Chronicle : Your Story Source
Get a job...and a life too!
This is truly an era that allows you to live your life on your own terms, at least as far as a job is concerned. The contours of employment have changed to the extent that you can now be a full-time employee or a part-time staffer; run your own business or take a break and find a second career later. In short, you have the options to work and make a living the way you deem fit.
Date : 30-04-2015 Platform/Online Media:: Your Story Source
दूसरी कंपनियों के फाइनेंस, एकाउंटिंग फंक्शन से मिला करोड़ों का बिजनेस
क्या फाइनेंस और एकाउंटिंग फंक्शन मैनेज करने के चलते आप अपने बिजनेस पर ध्यान नहीं दे पा रहे हैं? क्या आपको कंपनी के फाइनेंस को मैनेज करने के लिए बिजनेस कंसल्टेंट की सलाह के अलावा दूसरे तरह की मदद की भी जरूरत है?
Date : 27-04-2015 Platform/Online Media:: Your Story Source
A Mumbai-based start-up MyCFO manages finance and accounting operations for entreprenuers
Is managing functions such as finance and accounting preventing you from focusing on your core business? Do you feel you need more than just advice from business consultants on managing your company's finances? If the answer to either of those questions is yes, then you are not alone.
Date : 16-04-2015 Platform/Online Media:: Your Story Source
CFOs: Dhonis Of The Startup World
It’s the last 10 overs of a 50-over game, India is bowling first. The batting team has already crossed 250 run mark and are advancing steadily at 10 runs per over. India will have to bat exceptionally well to chase down the run mountain and win the ODI. The bowling changes are critical and the fielders have to be at the right areas. Senior players are chipping in with words of advice and there needs to be a constant check on the over rate. Bowlers need to stick to the plans. He needs to keep a hawk eye for each delivery bowled as he is the wicket keeper, he has to go down and wait for the ball, stand up after the bowl is bowled and run up to the stumps to create a run out chance. All this, and surely much more.
Date : 14-03-2015 Platform/Online Media:: Your Story Source
CFOs should think beyond numbers, and be strategic leaders
A CFO in this age is required to wear multiple hats. One of the must-have skills set for a CFO is communicating with colleagues and stakeholders who are not well versed with the finance ‘lingo’. This may look tricky but isn’t really. A CFO with a strategic bent of mind very well knows to navigate his way through.
Date: 09-03-2015 Platform/Print Media: The Economic Times Source
Strengthening existing institutions is more important, because it will be a long time before the new bank becomes operational, said C Rangarajan, former chairman, Economic Advisory Council to the Prim
Finance Minister's Arun Jaitley's Budget proposal to create a Micro Units Development Refinance Agency (Mudra) Bank, to finance the setting up of small and micro enterprises and thereby encourage entrepreneurship among SC/STs and OBCs, has not received an unqualified welcome.
Date : 27-02-2015 Platform/Online Media:: Your Story Source
How a CFO can help?
The CFO plays a pivotal role in successful migration of a private company to a professionally managed PE environment. Working with a PE can be difficult for first time entrepreneurs. Here the CFO plays a key role as the main conduit of information flow between the company and its PE investors. PE investees tend to have dynamic business models, are high on uncertainty, work in fast paced ecosystems, and entrepreneurs need smart CFOs to help them navigate this environment.
Date : 27-02-2015 Platform/Online Media:: Your Story Source
How a CFO can help?
What is the first thought that comes to your mind when you hear the word "Chief Finance Officer" (CFO). Let me guess; accounts, finance, taxation, numbers, excel, budgets, the guy who doesn't smile etc? Well if you picked one of the above choices or were even close to one of the above then let me tell you what a modern day CFO is role has evolved into.
Date: 22-02-2015 Platform/Print Media: The Economic Times Source
Date : 11-02-2015 Platform/Online Media:: Your Story Source
The Prime Minister Narendra Modi-led government is set to present its first full Budget on February 28. Expectations are running high with reforms being on the anvil across most sectors.
While the Budget wishlist is long, the Finance Minister should especially look into several crucial aspects regarding direct taxes such as lowering the corporate tax rates, reducing the rate of Minimum Alternate Tax and rationalisation of individual tax slabs.
Date : 09-02-2015 Platform/Online Media:: Your Story Source
Regular engagement with the market/investors and with the analysts is crucial in building investor confidence
In recent years, CFOs have assumed increasingly complex, strategic roles focused on driving value creation across the business. Growing shareholder expectations and activism, more intense M&A, mounting regulatory scrutiny over corporate conduct and evolving expectations from the finance function have put CFOs in the middle of corporate decisions. While financial performance is what it is, the CFO’s role in helping stakeholders interpret the numbers in the context of the business environment is critical. This article signifies the role that CFO’s have to play in managing investors, communicating with customers, suppliers and internal teams, bridging cultures in M&A situations, without dropping the ball on day-to-day finance functions.
Date : 30-01-2015 Platform/Online Media:: Your Story Source
Set up a portal which will improve governance relating to registration of new companies.
Personal Tax:
- Raise Income tax exemption from INR 2.5L to INR 5L. Make it 10L for Senior Citizens (There is no system of social security in India. Raising the limits will allow pension & interest earning senior citizens to set aside funds for medical & investments).
- Increase exemption on interest from housing loan from 1.5L to 3L (the cost to own a house has gone up significantly since the time the limit of 1.5L was set a few years back).