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.
Bu hikaye Businessworld dergisinin August 16, 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Businessworld dergisinin August 16, 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.
