3rd edition of The Economic Times CFO Strategy Summit 2022: Embracing tech for optimizing financial decision-making and transforming processes

The Indian financial sector has evolved. Digitization has encompassed practically encompassed each possible market sector and revolutionized the work processes, thus adding a little more ease of operations. The evolving market dynamics have resulted in a change in leadership paradigms, as well as the ability to acclimatize. Today's CFO plays a transformative role by defining digital roadmaps and transmuting workflows that deliver business results. They are expected to take financial data and use it to influence operational decision making and strategy. Recognizing the evolving leadership milieu and the need to acknowledge the transformation, the 3rd edition of The Economic Times CFO Strategy Summit 2022 held on 6th December in Mumbai focused on adopting digital landscapes and rebuilding finance processes, and leading investment challenges and opportunities focusing on growth.

Leading CFOs, financial experts, disruptors from finance sectors, policymakers, and global minds shared their strategies and reflected on the way CFOs are moving forward and building future-ready companies. The adoption of new-age technologies to automate and homogenize processes was also in the focus. Addressing the gathering with a keynote address, S.

Ganesh Kumar, Former Executive Director, of the Reserve Bank of India (RBI) accentuated the importance of digitization and innovation for optimization. He said "Today, banks are multi-connected and operate round the clock thanks to digitization and technological innovation. During the pandemic, the financial sector showed its resilience, thanks to the efforts made in strategic planning. For me CFO stands for a corporation, constituents, look at future resilience, and optimize". The technology which works in our brain will be most effective. As CFO, we need to ensure that we keep innovating and optimizing, S. Ganesh further added.

The Economic Times Cfo Strategy Summit 2022 Held On 6th December In Mumbai Focused On Adopting Digital Landscapes And Rebuilding Finance Processes, And Leading Investment Challenges And Opportunities Focusing On Growth

During one of the keynote addresses focused on "Building digital resilience Protecting the company's critical digital assets", Rupesh Acharya, Chief of Finance, National Payments Corporation of India (NPCI) highlighted the importance of managing risk aspects in the age of digitization. He said "Small businesses are at the highest risk of cyber fraud due to the race to compete without looking at resilience. It is important to counter-balance with digital resilience. It is important to prioritize and CFO plays an important role in the same". Addressing the vulnerabilities is also important. Investing in cyber security will help in moving towards passive covers, Rupesh further added.