Hyderabad: CFO Conclave concludes

Hyderabad: The CII-Telangana virtually organised the 3rd edition of the two-day annual flagship event 'CFO CONCLAVE' with the theme of 'Reimagining Finance – Transformation to The Next Normal' which concluded on Thursday.

Dr A Velumani, Chairman of Thyrocare, discussed about how numbers play a key role in success of the business. He shared his entrepreneurial journey with the CFOs on how he started his business with Rs 2 lakh capital and how it grew up to Rs 6,000 crore turnover with 8,000 employees. He also mentioned that taking care of employees, hiring the freshers and training them well have proved to be right strategies. The company has always been no debt company and earning about 40% EBITA every year. He also discussed about controlling costs and keeping track of profit and volume ratio will play a key role in ensuring financial success.

Dr BVR Mohan Reddy, Chairman of CYIENT Ltd, said, "we are living in a digital world driven by the technology where machines could take the decisions. There are challenges due to information security and cyber security and we are using more technologies to protect the data. We all need to work together to apply technology & competence to make a positive impact on the mankind." FinTech is gaining lot of momentum and every organisation needs to become agile and has to have a framework in place to face any crisis. "New Normal is we all have to use technology to become more efficient. COVID has brought a sense of discipline and proved that one degree is not sufficient and learning need to be life-long," he noted.

Vanitha Datla, Past Chairperson, CII-Telangana, and MD, ELICO Ltd, said that the role of the CFO has evolved dramatically in recent times and they are expected to play a broader and more strategic role by helping to define and shape the future vision of their companies. Digitisation is transforming how organizations in every industry go to market, interact with customers and carry out their operations. But the digital transformation required is complex, time consuming and expensive - and it affects all aspects of the enterprise. Digital Finance is made possible by a series of rapidly converging technologies and business trends, each of which has the potential to significantly impact the traditional finance function. Combined, these trends are creating the conditions necessary for a total transformation of how finance functions operate.

The conference was addressed by MV Narasimham, Convenor of CII-Telangana, Sameer Goel, MD, Coromandel Fertilizers, Kabir Ahmed Shariff, CFO, TATA Communications, Ganeshan, Partner, Deloitte, and others.