Evolving Role Of CFO In Changing Economic Landscape
The economy is a dynamic entity that can remain constant for a while or change every couple of hours, in which CFOs can play a game-changing role
Finance is the engine of an organisation, and financial leaders are the fuel. They not only determine the financial planning but also chart smart strategies to provide the best output to the organisations. Their role becomes more critical in times of economic dismay.
Prabin Dokania, CFO, of Goods and Services Tax Network (GSTN), touched upon the various parameter that determines whether the market is uplifting or falling down. He also mentioned the GST collection and increment in loan numbers as an important parameter to decide the economic strength.
He said that consumer behaviour in India is quite reactive to the market trend which shows the economy is doing well. He gave the instance of a long waiting list whenever any new model of car and iPhone launched.
Taking to the other major economic changes in India, Sameer Madan, Director of Finance, Agilent Technologies said that business models in India are disrupted and changing at a fast pace while he also mentioned the cut-throat competition in the Indian market that calls for better financial strategies and a good handle on cash flow.
He also referred to India as the land of a billion opportunities that require energetic and sincere investment plans.
The economy is a dynamic entity that can remain constant for a while or change in every couple of hour.
Suparna Banerjee Bhattacharyya, CFO, of Schneider Electric Infrastructure, said that we are witnessing a turbulent economy which is going to continue, in which the organisations need to be agile and products need to be in tune with customer expectations.
Banerjee mentioned that in the role of CFOs, one needs to cater to that kind of management requirement with the data in one hand.
She highlighted the significance of data for the CFOs to match the market pace.
With the advancing technology and roller coaster economic conditions, CFOs need to use multiple ways to make their organisation profitable.
