Moglix CFO: The role of a CFO goes beyond finance when it comes to startups
Rahul Goel, Vice President- Finance, talks about the challenges and success factors of new-age CFOs. Having worked with both startups and MNC’s, Rahul believes that the role of a CFO goes beyond finance when it comes to startups. He dissects various challenges that CFOs face in the startup world especially in the tech space, followed by the successes that lead around for CFOs.
A finance professional for over two decades, the Moglix CFO believes that two major factors that are often ignored by most financial heads at companies are growth and governance which play an important role in the journey. He stated that Indian companies have yet to understand the business model and efficiency of tech startups so that they can be evaluated correctly.
Given that tech startups ought to have cross-functional leaders, the biggest challenge for a CFO is balancing the speed and agility of the finance operations with the other parts of the business from product to marketing. “In the early stage of that product, the resources might be limited but the speed at which the company wants to run might be very fast,” Rahul added, highlighting the need for CFOs to learn about other domains to react in a quick manner.
One of the most crucial tasks for a CFO is fundraising. A new-age CFO needs to assume responsibility for the complete fundraising cycle — from the timing of the fundraise to creating a healthy financial picture to meeting with advisors to identifying the right strategic partners and attracting the right set of investors.
Rahul states that it is crucial for any company to hire a CFO from the start itself in order to be successful. One needs to be more agile, fast, and innovative in order to reach the business requirements and when it comes to tech startups, CFOs need to be dynamic. He explains how important it is in a tech startup, such as Moglix, to focus on key performance indicators.
Moglix launches digital supply chain financing platform Credlix
Moglix launches digital supply chain financing platform Credlix with the aim to provide quick collateral-free working capital solutions for its 15000+ suppliers and make the supply chain ecosystem future-proof from disruptions.
Credlix aims to make it easier for the suppliers to get just-in-time payments through its technology-driven supply chain financing system. Suppliers will be able to request early payments from enterprise buyers at affordable discount rates to keep their supply chain up and running even during times of disruption.
Rahul Garg, Founder & CEO, Moglix said in a statement,
MSMEs in India account for 11 crore jobs and 29% of the country’s GDP. Unclogging the cash flow through the supply chain will be integral to fostering winning partnerships between MSME suppliers and large enterprise buyers and realizing the Government of India’s vision for Aatmanirbhar Bharat.
Credlix is on track to provide invoice discounting of Rs 1000 crore over the next 12 months and is aiming to touch Rs 10,000 crore discounting value over the next three years by scaling up to include more banks, suppliers, and geographies.
HR Priorities for 2021: Director- Human Capital
Saumya Khare, Director of Human Capital talks about the HR priorities for 2021. She throws light on the learnings from 2020, the growing need for adaptation
In 2021, HR leaders will have to explore new ways to optimize talent retention costs and facilitate better work-life balance.
Saumya elaborates on the growing need for digitization and analytics in the existing models, to not only revamp the current processes but to also innovate methods to grow the organization as a whole. what the future workplaces would look like and the best practices they should start following in order to build workplace 4.0.
HR leaders will have to ensure that functional teams build the strength to sustain sudden changes to team structures, health risks, and logistical disruptions. They will have to provide greater multi-tasking, learning by doing, and familiarize the staff with the new roles as contingency measures.
Interview: Moglix CEO on Future Plans and Acquisitions
Rahul Garg, CEO & Founder, Moglix business talks about future plans and Moglix marking its presence across 35 locations in India with its recent expansion to Goa & Guwahati. Rahul shares his insights on the manufacturing sector, the impact of the ongoing crises on it, and how its supply chains are under a major transformation.
Moglix has captured 80% of the manufacturing hubs and is now aiming to go for smaller businesses in order to strengthen the network and spread its roots in smaller cities too.
Ratan Tata-backed Moglix Expands Operations in the UK, Europe
At a time when the world is grappling with a dire lack of coronavirus-related supplies, B2B eCommerce startup Moglix Business expanded its service offerings in the United Kingdom and set up operations in Europe. Having been present in the UK since November 2019, it always had a plan for global expansion for its maintenance, repair and operations (MRO), and SaaS businesses in the UK and Europe.