Sun.Jul 30, 2023

article thumbnail

DLF banking on robust demand cycle, new products and strong retail growth to stay ahead: CFO

CFO News

DLF CFO maintained that the real estate giant will continue to focus on strengthening balance sheet and cash generation. He said the company has almost achieved commitment of being net zero, and hopefully should end the year with a surplus cash position.

CFO 96
article thumbnail

920: When Leadership Calls | Erin Colgan, CFO, Sensei Bio

CFO Thought Leader

For many professionals, the period stretching roughly from March 2020 to December 2022 will forever be known simply as “COVID,” as in “I changed jobs during COVID.” Thus it was for Erin Colgan, who in July 2020—after having invested 9 years within the finance rank-and-file of pharma giant Vertex Pharmaceuticals and 8 years with PWC—opted to become the 20th employee of a promising biotech start-up.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Experts say TCS’ return to vertical ops structure will help it in slump

CFO News

On Friday, Krithivasan announced a new operational structure that aligns the $28-billion company as per its business verticals, and announced close to a dozen leadership changes.

article thumbnail

What it takes to become a value-adding CFO

Future CFO

To become a value-adding CFO, one needs to adopt integrative thinking, said ACCA recently. CFOs need to change their mode of operation to successfully navigate complex multi-dimensional problems, according to the accountancy body’s latest research. According to ACCA, CFOs have an immense responsibility and career-defining challenge in helping their organisations navigate complex multi-dimensional problems.

CFO 52
article thumbnail

Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

article thumbnail

Gaming companies differ on tax formula ahead of GST Council’s second meet

CFO News

The difference in opinion emerged amid an attempt to arrive at an agreement about the final representation to be made to the government ahead of Wednesday’s GST Council meeting.

52

More Trending

article thumbnail

Applications observability is vital for banks and payment companies to handle transaction spikes

CFO News

To facilitate the move to real-time payments, there is now a growing shift toward cloud native technologies within banks and payment companies. Organizations are recognizing the advantages that cloud technologies provide in terms of agility, scalability, and resilience. Cloud platforms not only enable banks to manage fluctuations in demand but also to speed up time to innovation and enhance customer experience.

Banking 52
article thumbnail

Unraveling the Power of Cash Flow Statements for Small and Medium-Sized Businesses

Focus CFO

As small or medium-sized business owners, you have to wear many hats. And while the challenges that come with entrepreneurship can be rewarding, the financial aspects can be complex and, at times, downright confusing. The need for a strong understanding of financial statements, such as cash flow statements, is critical for making informed, strategic business decisions.

52
article thumbnail

CFOs navigating a VUCA world: 5 reasons why you shouldn't miss ETCFO Turning Point

CFO News

With just a few days to go for the most-awaited summit in the CFO Community, here are five reasons why you shouldn’t miss the third edition of ETCFO Turning Point in Gurugram on August 18, 2023. ETCFO decodes the next winning CFO strategy in this volatile, uncertain, complex, and ambiguous (VUCA) world.

CFO 52
article thumbnail

10 Sunday Reads

Barry Ritholtz

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • Tesla created secret team to suppress thousands of driving range complaints : About a decade ago, Tesla rigged the dashboard readouts in its electric cars to provide “rosy” projections of how far owners can drive before needing to recharge, a source told Reuters.

article thumbnail

How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

article thumbnail

Mukesh Ambani might need a different playbook for Jio moment in AMC business

CFO News

As Ambani’s Jio Financial and US-based BlackRock, the world’s largest asset manager, team up to take on India’s asset management industry’s well-entrenched incumbents, corporate watchers are wondering whether this is the Jio Moment for the asset management space. While the scope for Jio BlackRock is immense, it will require more than just repeating the playbook Reliance used in telecom and retail to replicate that success.

Retail 52
article thumbnail

Nirma closes in on Glenmark's API arm, emerges sole contender as bid deadline ends

CFO News

Nirma Group is likely to acquire an 82.84% stake in Glenmark Life Sciences in a deal worth INR 6,664 to INR 7,000 crore. The company has emerged as the sole bidder following the deadline last week, with the acquisition likely to be facilitated by healthcare subsidiary Aculife Healthcare.

article thumbnail

GST notices from different states make life difficult for many companies

CFO News

The number of such notices from states, seeking documents and representations as part of tax scrutiny, has increased significantly since the conclusion of GST compensations for states in July 2022.

Numbers 52
article thumbnail

Companies may get to defer import duty in new economic hubs

CFO News

The finance, commerce and industry ministries have firmed up the contours of Development of Enterprise and Service Hubs, or DESH, which could allow companies to defer their import duty liabilities, among other concessions, officials privy to the deliberations told ET.

article thumbnail

Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

article thumbnail

India's per capita income seen growing nearly 70% to USD 4,000 by FY30

CFO News

India's per capita income is likely to grow by nearly 70 per cent to USD 4,000 by FY 2030 from USD 2,450 in fiscal 2023, helping it become a middle-income economy with USD 6-trillion GDP, stated a report.

52
article thumbnail

Healthy balance sheets, cash flows lift India Inc's capex spends

CFO News

India's corporate capex spending is rising due to rising cash flows and improving balance sheets, with three out of four companies from a sample of 373 of the S&P BSE 500 index reporting year-on-year improvement in gross fixed assets for FY23. Mainly oil and gas, metals and power firms form a major part of incremental GFA.

52
article thumbnail

Go First resolution professional approaches NCLT seeking permission for refund of cancelled tickets

CFO News

Go First has approached the National Company Law Tribunal (NCLT) seeking permission to refund money to passengers who had booked their tickets for travel on and after May 3, the day when the cash-strapped airline suspended operations. The Resolution professional of Go First has filed a new application before the Delhi bench of NCLT, requesting "to permit the applicant/CD to make payment of refund to passengers of the CD whose airline tickets have been cancelled since May 3, 2023.

52
article thumbnail

Reliance General Insurance gets Rs 200 cr capital infusion from parent

CFO News

The shareholders of the company at its Extraordinary General Meeting (EGM) held on July 29, 2023, have approved infusion of capital of about Rs 200 crore in the company, by way of the issue of equity shares on a private placement basis, it said.

52
article thumbnail

How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

article thumbnail

NFRA bans Coffee Day auditors, slaps penalty

CFO News

While chartered accountant A S Sundaresha has been slapped with the maximum permissible penalty of Rs 10 lakh and barred from practicing for 10 years, his colleague, Madhusudan U A, has received a five-year ban on practicing and has to pay a penalty of Rs 5 lakh.

article thumbnail

Over 17,000 Indian startup employees laid off in the first half of 2023 as funding winter refuses to thaw

CFO News

Startups, which heavily rely on external investments to fuel their growth, have been forced to downsize due to a decline in investor funding. The lack of new investments flowing into the industry has become the biggest challenge for these startups, resulting in cost-cutting measures and cash conservation.

article thumbnail

Foxconn unit to sign $194 million components plant deal with India's Tamil Nadu-source

CFO News

The subsidiary, Foxconn Industrial Internet (FII), plans to invest 16 billion Indian rupees ($194.45 million) to build a campus in Kancheepuram district, near the state's capital of Chennai, added the source, who was not authorised to speak publicly about the matter.

article thumbnail

Banking tycoon Kotak’s succession is under regulator review, sources say

CFO News

India’s banking regulator, the Reserve Bank of India (RBI), is urging Kotak Mahindra Bank to choose an external candidate as its new CEO following the departure of founder Uday Kotak. Additionally, the RBI is examining stakes held by the bank in Kotak Mahindra Life Insurance and Kotak Mahindra General Insurance to evaluate the banks’ stakes in insurance companies.

Banking 52
article thumbnail

Accounting Software and ERP Readiness Guide

In this white paper, we explore the factors to consider in deciding whether the time is right for your Company to consider a new ERP or accounting software, the total cost of ownership and plans necessary to make the potential leap to these systems.

article thumbnail

Jana Small Finance Bank IPO: Jana SFB files DRHP with SEBI for ?575 crore issue

CFO News

The Net Proceeds from the Jana Small Finance Bank IPO are proposed to be utilised towards augmentation of Bank’s Tier – 1 capital base to meet Bank’s future capital requirements such as organic growth and expansion and to comply with the regulatory requirements for enhanced capital base, as may be prescribed by the RBI from time to time.

Finance 52
article thumbnail

Delhi HC rejects SpiceJet's plea, refuses to interfere with 2018 arbitral award

CFO News

The Delhi High Court on Monday refused to interfere with the 2018 arbitral award that had asked SpiceJet and Ajay Singh to refund Rs 579 crore plus interest to former promoter Kalanithi Maran. It also rejected Maran's plea seeking Rs 1,323 crore damages claim from budget carrier SpiceJet.

article thumbnail

Applications observability must be the foundation for sustainable innovation within India’s payment industry

CFO News

Banks must move from traditional monitoring to applications observability to sustain innovation and maximize growth within payments.

Banking 52