Finance – the most reliable business partner
A common perception about people from the finance field is that they are technical, difficult to understand, rigid and always talk about compliance. However, this is not true. They are in fact trust worthy and work for the best interests of the organization. The finance team works very closely with all departments and is a business partner in any organization. The success of the organization broadly depends on the financial discipline and culture of ownership. Balance sheet, Profit & Loss statement, Cash flow, all of these statements are the results and help us understand the position of the company for the given period. They help us understand the activities of various departments, as it is very important to understand the financial implications of various actions of Marketing, HR, Production, Technical teams, Administration and other departments of the company.
The role of a finance professional has evolved over time and has become even more critical during the pandemic. This unprecedented event caused huge disruptions in business activities over the last 15 months. No one had ever thought of such a scenario or had planned to mitigate risks due to such an event. The Finance team, as a most reliable business partner in the organization, worked in close co-ordination with all the key functions to ensure smooth business operations during this pandemic.
What were the challenges faced by the team and how we overcame those challenges?
It was a priority to arrange funds on time so that the business did not face any disruption or losses. It was a time to think smart and work towards delivering effective results instead of talking. We let our work speak for itself. The team demonstrated great resilience, commitment, passion, energy, teamwork and ownership. There were sleepless nights but we ensured timely availability of funds for business growth and completed strategic projects on time. During the period when all other companies were struggling to maintain their cash flow and Credit rating, we managed smooth operations and our strategy worked well to improve our Long-term credit rating from A+ to AA-. This is the result of persistent hard work and guidance from senior team members. Kudos to the spirit of GHCL’ians. I am proud to be a part of a growing organization.