Menu
BW CFO World
Community for Finance Professionals, Consultants and allied businesses
  • Home
  • News
  • Videos
  • Articles
    • Credit & Capital
    • Economic Trends
    • Financial Compliance
    • Financial Leadership
    • Financial Management
    • Financial Reporting
    • Financial Strategy
    • Risk Management
    • Taxation
  • Featured
  • Nominate for Awards
Close Menu
keynote 1
August 14, 2021

Technology Is Not Just Good To Have, It’s A Must Have” Swaroop Repaka

admin Financial Technologies

By Siddharth Shankar, BW Businessworld

As technology advances, companies have an ultimate necessity to encompass technology. This is because technology has transformed several elements for the better.

10 years ago Nokia CEO Stephen Elop shot off his burning platform memo as a way of shaking up the phone company’s leadership in the light of the competition from iPhone and Android devices. This fiery term comes from the analogy of standing on an oil platform at sea that’s on fire – the urgency to save yourself is so great you take action and jump off into icy waters. In terms of business, burning platform is a term used to describe the process of helping people see the dire consequences of not changing. “Today, Indian enterprises are on a burning platform too, many are feeling the heat, many don’t realize it yet” affirmed by Swaroop Repaka, Director Strategy – Clear., who was making a keynote address at the 5th Edition of the CFO and Finance Strategy Awards 2021, organized by BW CFO World and BW Businessworld.

While addressing the occasion on a virtual summit Swaroop said “The big audit firms are not a tech first firms, they infact use a lot of legacy systems and have smaller tech teams. More important they don’t create a common work bench across your teams and that becomes important in the current era. Its not just about you and your tax team along with your tax consultant being on the same platform, it has to be your procurement team accounts team even your vendors, dealers’, distributors all of them have to be on a common platform. Same is the case with ERP.”

Talking about the future of technology in businesses Swaroop opined “Everything will be automated, all business processes. There will be AI based data surveillance, not just you but the government also surveilling your data. While B2C data like facebook and google has is commonly talked about but in B2B segment the government has all the data, right from every single invoice. Using AI technologies imagine the kind of surveillance they can do, and I believe they have starting work on it.” Talking about the linking of the e-way bill to the Fast tag system Swaroop went on to say “Imagine if they started to link Direct and Indirect tax system, it will open up a seamless interaction across your entire vendors and distributors ecosystems. Leading to a deep technology led proliferation.”

Not since the industrial revolution has business experienced such rapid and profound changes as it is seeing today. As technology evolves, companies have an ultimate need to encompass technology. This is because technology has transformed several elements for the better. “Technology is not just a Good to have, it’s a must have, its important for a business’s survival” says Swaroop

 

→

The Evolution Of Fintech Is A Bare Necessity Managing Business Finances in a Remote Structure 

Related Posts

sucheta branch int

Financial Technologies

How Fintech Is Revolutionising The Indian BFSI Sector

AI

Financial Technologies

Meet The AI Enabled CFO

sean narayan article

Financial Technologies

AI Revolutionizing A Post-Pandemic Era For Financial Institutions

Movements

  • adobe danDan Durn Appointed As Adobe’s New Chief Financial Officer
  • Vineet Mahajan_Vineet Mahajan Appointed As New CFO Of Avanse Financial Services On Sept 27
  • bharat pet director financeVetsa Ramakrishna Gupta To Lead Bharat Petroleum As Director Finance
  • tender cuts cfoTenderCuts Names Satya Rakesh as New CFO
  • dailmer CFOManish Thakore Helms Daimler India Commercial Vehicles as CFO

Selected Stories

  • start-upCash-strapped Pak Secures Deal With IMF To Restore Stalled USD 6 Bn Aid

    Read more

  • sahil-vaidya-imageOMTV Appoints Sahil Kiran Vaidya As Head Of Business And Strategy

    Read more

  • indian rupeeInvestors richer by over Rs 5.77 lakh cr as markets rally

    Read more

  • 20211208_135038Mutual Funds Can Resume Investing In International Stocks: Sebi

    Read more

  • green energyIndia Needs $223 Bn To Meet 2030 Renewable Capacity Goals: Report

    Read more

Categories

  • Accounting
  • CFO Stance
  • Credit & Capital
  • Economic Trends
  • Featured
  • Financial Compliance
  • Financial Leadership
  • Financial Management
  • Financial Reporting
  • Financial Strategy
  • Financial Technologies
  • Global News
  • Interview
  • Movements
  • Risk Management
  • Taxation

Recent Comments

    Back To Top
    BW CFO World
    • Home
    • News
    • Videos
    • Articles
      • Credit & Capital
      • Economic Trends
      • Financial Compliance
      • Financial Leadership
      • Financial Management
      • Financial Reporting
      • Financial Strategy
      • Risk Management
      • Taxation
    • Featured
    • Nominate for Awards
    © Copyright BW BUSINESSWORLD 2018. All Rights Reserved.