CII Karnataka Annual CFO Conclave 2022 Forces Shaping Finance of the Future 6 December 2022. Hotel Taj West End

These words were echoed by the senior Chief Financial Officers of all the major organizations in the Annual CFO Conclave organized by CII Karnataka in Hotel Taj West End on 6 December 2022.

Appropriately themed as “Forces Shaping Finance of Future”, it emphasized on the dynamic global business ecosystem and the forces impacting businesses. Macroeconomic forces are nudging the corporates to critically evaluate the strategic direction of the business.

Organizations have been trying to keep pace with the unprecedented change and possibly be one step ahead. They need to respond with agility to remain competitive and relevant.

Mr Jayesh Sanghrajka, Deputy CFO Infosys Group in his address on the global factors shared that ” One needs to wear different hats to become a successful finance professional” wherein he emphasized on various skillsets, a knowledge seeker should demonstrate, and the major factors that lead to disruptions.

Competitive forces are compelling to innovate on cost and profitability parameters (Finance as business role). The pace and intensity of regulatory forces and related compliances needs have gone up many notches and finally, the ever-changing digital landscape creates new avenues for better efficiency and effectiveness. All of these factors create constant volatility and uncertainty for businesses and the need for proactive navigation and steering by the finance function. The CFO’s office needs to steer the business towards achieving the strategic objectives of both the enterprise and finance function, and be the trusted advisor to the business.

Companies like Manipal Hospitals, Bosch, Infosys, Pwc, etc associated with the Conclave and shared the perspective from their respective sectors of operations and prominent finance professionals from across industries converged to discuss and exchange views on the ever changing role of CFOs in the new world.