Hyderabad 16th June 2023: Confederation of Indian Industry, Telangana, organized the 4th edition of CFO Conclave with the theme ‘Transcending New Frontiers: Technology, Sustainability, and Governance’ for the CFOs and corporate professionals in Hyderabad today.
While delivering his Inaugural Address, Mr Harish Rao, Hon’ble Minister for Finance, Health, Medical & Family Welfare, Government of Telangana said that CFOs are backbone of any organization and are expected to be well versed with Technology. CFOs need to adopt national and international best practices that will strengthen the organizations and will also strengthen the Indian economy. He also mentioned about the growth story of Telangana in last 9 years and mentioned that the State Government has spent more than Rs. 40,000 Crore to build a robust power distribution system so we are able to provide 24/7 continued good power supply to all households and to the industry. We are currently a power surplus and the state is expected to produce 25,000 megawatt power by end of this year. He also mentioned that Government of Telangana has adopted digital technologies in a proactive way and Rythu Bandhu benefits are transferred to 65 Lakh farmers, Aasara pensions are transferred to 44 lakh people on a single day. Dharani portal has brought a big positive change in land registrations and Good Governance is for people.
Today Telangana is the largest producer of paddy and produces about 3 lakh m.t. per annum. He also mentioned that Water is life and World’s largest lift irrigation project was built in Kaleswaram within 3 ½ years in Telangana and treated drinking water is supplied to all households in the State. He also mentioned about the transition of Telangana from power and water deficit state to surplus state. The state has focused on the holistic development in all sectors such as agriculture, industry, welfare etc.
Mr. C Shekar Reddy, Chairman, CII Telangana & CMD, CSR Estates Pvt Ltd said “The finance leaders need to embrace technologies and also must invest in cyber security measures and ensure inclusivity to bridge the digital divide.” He appreciated Govt of Telangana for taking up several measures to develop tier-II towns and also briefly mentioned about IT Towers in Siddipet getting IGBC Gold rating and how the town is developing fast as a role model.
Mr. V. Laxmikanth, Managing Partner, Pavestone Capital & Former Chairman, Broadridge Financial Solutions said “The future never happens, it’s created. CFOs need to take decisions while keeping process, people and scale into consideration. Today organizations operate 24/7, 365 days and digital ability will help in building such organizations and hyper personalization / customizing individual experience may drive the success of the future businesses.”
Mr. MV Narasimham, Convenor, CII Telangana Ease of Doing Business Panel & Dty CFO, Dr. Reddy’s Laboratories Ltd. said “CFOs are expected to lead the digital transformation and support sustainability goals. Customers are also insisting for a robust ESG framework and asking for long term value and performance. As responsible CFOs all our decisions need to focus around People, Plant and Profits and build strong governance system that will help us in taking better decisions. In the current digital age, technological advancements provide us new opportunities to improve transparency, efficiency and accountability in governance processes.”
Mr. Anand Daga, Co-Convenor, CII Telangana Ease of Doing Business & Co Founder, Consark said “Autonomous Finance is emerging trend now and CFOs need to ensure organizations are not only financially successful but also environmentally conscious and socially responsible. Finance teams and businesses should look to SaaS Solutions and other innovative technology to aid in their digital transformation and unlock the growth potential in the organizations.”
Ms. Praveena Bhimavarapu, Managing Director- Global Technology Services, State Street said “CFOs are expected to align the tech strategy with finance function. The need drives the change and the CFOs play a critical role in driving the strategy across the organization. In an era, where the data drives the decisions, digital transformation has changed the responsibilities of the CFOs on regular basis.”
The conference was also addressed by Mr. Rajesh Dhuddu, SVP & Global Business Head- Emerging Technologies, Tech Mahindra, Mr. Anirban Ghosh, Head- Centre for Sustainability, Mahindra Group, Mr. Santanu Mukherjee, Board Member, Bandhan Bank, Mr. Sanjay Jesrani, Founder & CEO, Go North Ventures, Dr K Sriharsha Reddy, Director-IMT Hyderabad and many others.
