Abhilash P V serves as the Executive Vice President of Finance at NG-Next Tech Private Limited. With a robust background in financial management and strategic planning, Abhilash has been instrumental in steering the financial direction of the company. Having graduated from IIM Bangalore and being a Chartered Accountant, coupled with his experience at one of the leading Big4 firms, he has demonstrated exceptional skills in optimizing financial performance, enhancing operational efficiencies, and driving organizational growth. At NG-Next Tech, Abhilash oversees all financial operations, including budgeting, forecasting, financial reporting, and risk management. He plays a pivotal role in aligning financial strategies with the company’s long-term objectives, ensuring sustainable growth and profitability. His leadership in financial planning and analysis has significantly contributed to the company’s competitive positioning in the tech industry.
What is your leadership philosophy, and how would you translate it in leading the Finance team?
My leadership philosophy is based on two pillars. The first pillar emphasizes replacing the fear of failure with a hunger for success. Individuals often fear the consequences of failure rather than failure itself. As a leader, it is crucial to protect your team’s minds from these consequences, fostering an environment where they can thrive without fear.The second pillar involves delegating both responsibility and authority. Trust and faith in your team are essential. Avoid micromanagement by ensuring that delegation is accompanied by the necessary authority, enabling your team to operate autonomously and confidently.Finance in most organizations is often viewed as a cost center, it’s important to highlight the significant impact of their work on the organization. Recognize and celebrate successes, whether it’s meeting deadlines or maintaining low variances. Clear communication about their contributions to the organization’s overall success is vital to boost their confidence and drive.
Describe your approach to financial reporting and ensuring transparency for stakeholders.
I believe that financial health is the heart of every organization. Just as the heart is vital to human life, financial inflows and outflows are critical to a company’s sustainability. Employees, investors, customers, and suppliers all rely on a company’s financial integrity. Therefore, it is imperative to project the financial health of a company with sound ethics and transparency. Historical financial scandals underscore the importance of ethical financial reporting. Stakeholders must be given the opportunity to make informed decisions based on complete and accurate information. This requires adherence to accounting and auditing standards, ensuring all relevant information is disclosed without omission or distortion.Two key elements in financial reporting are robust disclosures and organizational structure. Disclosures, including footnotes, should be thorough and clear, enhancing transparency. It is also crucial to promote financial literacy among stakeholders, enabling them to understand these disclosures effectively. Organizational structure plays a significant role in preventing financial reporting malpractices. The fraud triangle identifies pressure, opportunity, and incentives as key motivators for fraud. To mitigate these risks, duties should be segregated, and enough flexibility should be provided to employees to prevent shortcuts. This structural integrity ensures accurate and transparent financial reporting.
Beyond financial metrics, how do you measure the success of the Finance department in a broader business context?
Beyond financial metrics, the success of the Finance department in a broader business context can be measured through several key aspects.First is risk management, which includes strong internal controls, compliance with regulations, fraud prevention, and managing market fluctuations. Ensuring IT security, backup, and recovery is also crucial due to the reliance on digital financial data. Second, the Finance department’s strategic insight and collaboration with other functions and top management are vital. The involvement of finance in both rudimentary and strategic decision-making indicates its importance to organizational success. Third, efficiency is essential, reflected not just in margin improvements but also in resource allocation and staff planning. Adopting a product function culture with regular planning and review can enhance efficiency and support growth.Finally, managing repetitive processes through automation and staff training minimizes the need for managerial intervention. Utilizing technology like AI and machine learning can streamline operations, allowing finance leaders to focus on higher-level strategic tasks.These aspects—risk management, strategic insight, efficiency, and process automation—comprehensively measure the Finance department’s success within the organization.
How would you leverage the Finance department's expertise to support strategic decision-making throughout the company?
To leverage the Finance department’s expertise in supporting strategic decision-making, the process involves three steps: evaluation, measurement, and control. During evaluation, the Finance team gathers market data, understands business models, and assesses competitors. They then make corroborative assumptions based on multiple information sources and develop financial models. Sensitivity and scenario analyses are performed to gauge the impact of external variables, leading to resource allocation and cost modeling. For short-term projects, this involves pricing strategies, while long-term projects require capital budgeting to assess cost recovery. Measurement involves the Finance team utilizing company-wide data to create meaningful KPIs. Instead of relying on traditional metrics, the team should perform root cause analysis to identify true outcome drivers and establish innovative KPIs that are regularly monitored. Control is the final step, where outcomes are compared to the initial plan. Any variances are identified, and corrective actions are taken in consultation with relevant teams.By excelling in these areas, the Finance department significantly contributes to the company’s strategic decisions and overall growth.
How can financial leadership be a driver of diversity and inclusion within the Finance team and across the company?
Financial leadership can drive diversity and inclusion (D&I) by recognizing its hidden value beyond measurable top-line and bottom-line metrics. Engaging in D&I initiatives, like offering additional leave to female employees, fosters trust, loyalty, and higher retention rates, ultimately enhancing efficiency and reducing costs. These benefits, although not directly quantifiable, contribute significantly to organizational success.Collaboration between Finance and HR is crucial. HR’s understanding of organizational psychology and motivation theory can guide Finance in implementing balanced D&I policies that maximize positive impact without excessive costs. Furthermore, finance leaders can advocate for D&I initiatives during company-wide meetings, leveraging their influential position to signal the importance of inclusivity. By emphasizing D&I, finance executives can inspire the organization to adopt diverse thinking and equitable treatment, ultimately fostering a more inclusive and productive workplace.
