WELCOME TO THE FUTURE of the chief financial officer’s (CFO) role. In what has been a year down the rabbit hole, CFOs have chased the white rabbit of resilience to emerge in renewed avatars that are digitally ahead, cash-conscious and risk-aware. The CFO is more than a financial steward in today’s dynamic world. They command a bird’s eye view of the organization and lead as strategic business partners to the CEO. The contours of cost, compliance, and transformation have expanded astronomically in what can be called an 18-month blue moon. Along with this, the concept of quarterly reviews and annual outlooks are slowly becoming obsolete in an age of weekly reviews and monthly outlooks. In such fast-changing environs, the big question is: what now is the role of a CFO? BW CFO World tabled this in the fifth edition of the BW CFO and Finance Strategy Summit and Awards (2021).
Keeping up with compliances
Finance leaders in India over the last five years have witnessed myriad changes including demonetization, GST, eWay Bills, ITC claim restrictions, e-invoicing, and stricter compliance, to name a few. Speaking at the summit, S Ravi, Managing Partner, Ravi Rajan and Co. and Chairman of TFCI, stated that compliance and the cost of compliance have gone up by 4 per cent in recent times rendering CFOs as midfielders who know when to switch between attacking costs and defending balances. He said that their role in the pandemic has been focused on reducing debt, raising resources, improving ratings, and coordinating with regulators, board members and auditors.
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Denne historien er fra August 16, 2021-utgaven av Businessworld.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Gauging Trumponomics For India
Despite some shortto mediumterm headwinds in trade and immigration, the broader Indo-US vision of counterbalancing China’s influence is expected to ensure continued cooperation under Trump 2.0
Reflections on Consciousness and Creation
Indian-American DEEPAK CHOPRA on the nature of the universe, the digital fabric of existence, and the power of a conscious mind
MORE TAKE TO DRIVING IN STYLE
High-end luxury vehicles are no longer part of a niche market, but a rapidly expanding segment of automobile sales, driven by changing consumer preferences, rising disposable incomes and better infrastructure
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
NDIA'S ROBUST ECONOMIC growth, projected to exceed 6 per cent in 2024 and 2025, is fostering a rising demand for aspirational products. As disposable incomes increase, particularly among the expanding middle class, luxury goods such as Swiss-made watches are gaining popularity.
An ENRiching Outlook
KPMG's latest report shows energy CEOs being optimistic about the sector's outlook. ANISH DE, Global Head, ENRC, KPMG speaks to BW Businessworld's Arjun Yadav on what's driving this confidence
Paving the Path to a Sustainable Future
Salesforce's ESG journey has made an impact beyond the company. SUNYA NORMAN, SVP of ESG Strategy and Engagement at Salesforce, shares more on how the tech giant integrates sustainability into its core operations, supporting global goals while empowering employees
LEADERSHIP TRANSITION AT XIAOMI INDIA
Xiaomi India is experiencing a leadership evolution, beginning with Muralikrishnan B's departure as President by the end of 2024. This change underscores Xiaomi's shift towards nurturing local talent amidst dynamic global shifts. The story tracks key transitions from Manu Kumar Jain's leadership to Muralikrishnan B's impactful tenure, along with recent strategic hires, highlighting Xiaomi's alignment towards market adaptability and consumer focus
WEAVING SUSTAINABILITY
Once a modest home textile manufacturer, Jindal Worldwide has evolved into a vertically integrated textile powerhouse, spanning critical segments of the yarn and fabric value chain
FORCE FOR GOOD
FY24 saw capacity expansions for Century Enka in nylon and polyester segments, along with investments in modernisation, renewable energy, and safety initiatives
REIMAGINING TOMORROW
For V-Guard, tomorrow signifies progress, driven by today's actions, setting the foundation for future growth and value creation for all stakeholders
