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Role of CFO as business accelerator for MSME in a disruptive business environment

OutlookIndia

OutlookIndia · 1y ago

Role of CFO as business accelerator for MSME in a disruptive business environment

Micro, Small, and Medium Enterprises (MSMEs) are crucial for economic growth, comprising over 70% of businesses. To overcome challenges and stimulate growth, CFOs play a pivotal role alongside other leaders. They are responsible for strategic value creation, annual budgeting, cash flow projections, working capital management, business performance management, risk assessment, technology assessment, cost optimization, profitability management, inorganic growth plans, talent development and retention, and ESG focus. Investing in a CFO can help MSMEs navigate disruption and drive success.

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PayU India reports $400 million in revenue for FY23

Money Control

Money Control · 2y ago

PayU India reports $400 million in revenue for FY23

PayU India, the leading digital payments company, has reported revenue of $400 million for the fiscal year 2022-2023. The company's robust financial performance indicates strong growth and a successful business model in the Indian market. PayU India continues to play a significant role in the digital payments sector, contributing to India's evolving financial landscape. India revenues grow 31 percent as enterprise and MSME business and personal loan business grow three times

Blinkit ropes in Flipkart’s Vipin Kapooria as CFO

Entrackr

Entrackr · 7m ago

Blinkit ropes in Flipkart’s Vipin Kapooria as CFO

Quick commerce platform Blinkit has named Vipin Kapooria as its new Chief Financial Officer (CFO). This marks the Zomato-owned company’s first full-time CFO appointment in over two years. Kapooria previously held the role of Vice President and Business Finance Head at Flipkart, where he contributed for more than four years. According to Kapooria's LinkedIn profile, he served as the Business Finance Head for the mobiles, electronics, and large appliances categories at the Walmart-owned company. Moneycontrol reported the development first. Entrackr has reached out to Zomato for more information. This development follows the recent resignation of Hemal Jain, who oversaw finance operations for both Zomato and Blinkit. In August 2022, Blinkit's CFO, Amit Sachdeva, resigned and later assumed the role of CFO at IGT Solutions in early 2023. Most recently, Sachdeva was appointed as the CFO of the edtech unicorn PhysicsWallah. This marks the fifth high-profile departure from Flipkart, with its executives moving to rival companies. Notably, Swiggy has recruited four former Flipkart leaders, including Kanika Tiwari, Hari Kumar G (CBO of Instamart), Shalabh Shrivastava (SVP Driver Org), and Amitesh Jha (CEO of Instamart). Similar to Blinkit and Instamart, Flipkart has also ventured into the quick commerce space with its service, Minutes, currently operating in select areas of Bengaluru, Gurugram, and Mumbai.

Oyo elevates Rakesh Kumar as chief financial officer

Economic Times

Economic Times · 1y ago

Oyo elevates Rakesh Kumar as chief financial officer

Oyo has announced the promotion of Rakesh Kumar as its chief financial officer (CFO) effective from January 1. Kumar, who currently serves as the company's deputy CFO, will be responsible for overseeing key financial functions. The current CFO, Abhishek Gupta, will continue with Oyo in an advisory role. Oyo also revealed that Ankit Tandon, CEO Southeast Asia and Middle East, will now head investor relations and financial planning and analysis function. Kumar played a crucial role in ensuring financial stability for Oyo during the pandemic.

Jatin Dalal likely to be new Cognizant CFO

Livemint

Livemint · 1y ago

Jatin Dalal likely to be new Cognizant CFO

Jatin Dalal, the former chief financial officer (CFO) of Wipro, is expected to join Cognizant Technology Solutions Corp. as their new CFO. Dalal, an old hand at Wipro, joins Cognizant during a period of struggle for the company, which has been trying to keep pace with its peers. His move to Cognizant could be seen as a step-up, as it is a larger firm compared to Wipro. The role of a CFO has become increasingly important in technology services companies, extending beyond financial oversight to include managing operations and playing a key role in major deals.

Cognizant appoints former Wipro finance chief Jatin Dalal as CFO

Livemint

Livemint · 1y ago

Cognizant appoints former Wipro finance chief Jatin Dalal as CFO

Cognizant Technology Solutions has named Jatin Dalal, former CFO of Wipro, as its new CFO. Dalal will assume the role in December, succeeding current CFO Jan Siegmund. This move comes as part of several high-profile executive changes in the Indian tech industry. Dalal brings over two decades of experience from Wipro, where he served as president and CFO. Cognizant CEO Ravi Kumar S expressed confidence in Dalal's ability to drive revenue growth for the company.

Audio streaming platform Pocket FM elevates Anurag Sharma to CFO

Economic Times

Economic Times · 2y ago

Audio streaming platform Pocket FM elevates Anurag Sharma to CFO

Pocket FM has promoted Anurag Sharma to the position of Chief Financial Officer (CFO), as reported by The Economic Times. As the new CFO, Sharma will likely play a crucial role in overseeing the financial operations and strategies of the startup.

CoLab Showcase To Bring together 80+ investors, ecosystem enablers under one roof

Inc42 · 1y ago

CoLab Showcase To Bring together 80+ investors, ecosystem enablers under one roof

Mondelez India's CoLab accelerator program has chosen five innovative Indian snacking brands for its 12-week program. To provide them a platform to connect with India's direct-to-consumer (D2C) investor community, Mondelez is hosting the CoLab Showcase event in Mumbai on October 31. The event will feature discussions with leaders from Mondelez India and founders of high-growth F&B brands, focusing on the evolution of D2C brands in the snacking industry and scaling strategies. The selected startups will have the opportunity to showcase their disruptive business ideas at the event.

Ashok Leyland appoints KM Balaji as chief financial officer

Money Control

Money Control · 1y ago

Ashok Leyland appoints KM Balaji as chief financial officer

Commercial vehicle manufacturer Ashok Leyland has announced the appointment of KM Balaji as its Chief Financial Officer (CFO), effective from June 1, 2024. Balaji has been with Ashok Leyland for 31 years, serving as the Deputy CFO. Gopal Mahadevan, the current CFO, will transition to the role of Director of Strategic Finance and M&A. The move comes as Ashok Leyland reported a 16.73% increase in net profit to INR 933.69 crore for the fourth quarter of FY2023-24, driven by strong demand for its products in the light and medium commercial vehicle segments.

Zomato steps up restaurant signups as slowdown bites

Economic Times

Economic Times · 1y ago

Zomato steps up restaurant signups as slowdown bites

Zomato is ramping up the addition of new restaurants to its platform as it faces a broader slowdown in discretionary spending. The company has seen sequential growth in restaurant partners, with a significant portion being cloud kitchens. Despite a muted demand environment in the December quarter, Zomato reported a 27% YoY growth in gross order value (GOV) for its food-delivery business. The company aims to continue adding restaurants and improve its coverage of existing ones to drive growth. Zomato's long-term growth will depend on its ability to generate demand, according to its CFO.

Digital Push Pays Off: 73% MSMEs Grow via UPI, Smartphones, Women

StartupTalky

StartupTalky · 1m ago

Digital Push Pays Off: 73% MSMEs Grow via UPI, Smartphones, Women

A survey by PayNearby revealed that over 73% of MSMEs have experienced business growth through digital adoption, primarily via UPI and smartphones. The report highlights increased digital integration among semi-urban and rural businesses, with women entrepreneurs showing higher technology adoption rates. Digital payments, particularly UPI, are gaining traction, and there’s growing exploration of AI tools. The findings emphasize the role of digital tools in enhancing MSME operational efficiency and business scaling.

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