KOLKATA: Joydeep Mookerjee, Group Chief Financial Officer, Techno India Group, highlighted the evolving role of CFOs in spearheading future-ready businesses during the panel discussion at the 24th edition of India CFO Summit 2024 held at a city hotel on Friday.
In the face of intricate and highly uncertain scenarios that may unfold at any given moment within an organisation, he underscored the importance of CFOs embracing a future-ready perspective. Discussing the ‘CFOs evolving role in building future-ready businesses’, Mookerjee also highlighted the need for CFOs to proactively prepare for and adapt to the complexities of the business environment.
“So, by regularly performing what-if analyses, we can effectively handle any unexpected situations that may arise in an organisation,” said Mookerjee.
Monika Mohta, CFO, Neo Metaliks Limited (Rupa group of company) also said how the role of CFOs has changed. “Today, we don’t just handle finances. We contribute to the long-term vision of the company. As a CFO, I need to draft a business plan, which is achievable and sustainable,” she said.
Talking about the impact of technology on the role of CFOs, Mookerjee discussed the implementation of Robotic Process Automation (RPA) and the use of chatbots
to eliminate routine financial tasks and streamline
the system.
“To confront uncertainty, a CFO must be future-ready and embrace digital transformation and product innovation. I have implemented RPA and chatbots to eliminate repetitive office tasks. By doing so, we can redirect our finance talent toward value-added services rather than routine areas. This allows us to focus on more significant issues, providing strategic inputs, rather than getting entangled in micro-level tasks,” said Mookerjee.
Sandeep Kumar Agarwal, CFO, Emami Agrotech Limited, echoed Mookerjee’s sentiments and said that CFOs
now share a comprehensive vision of the company alongside the CEO.