A financial visionary showcasing the power of CFO leadership…
In the ever-evolving landscape of modern business, the role of the Chief Financial Officer (CFO) has assumed unprecedented significance. Gone are the days when CFOs were merely number-crunchers and financial gatekeepers; today, they play a pivotal role in shaping a company’s strategic direction and ensuring its long-term success.
The CFO’s role has transcended traditional financial responsibilities to become a strategic partner in decision-making within a company. Unlike Chartered Accountants, who primarily focus on financial compliance and reporting, CFOs are responsible for a broader spectrum of functions. They serve as a bridge between finance and the broader organization, leveraging financial insights to drive operational efficiency, innovation, and growth.
Now, many business owners confuse themselves with the role of Chartered Accountants (CAs) and Chief Financial Officers (CFOs). Despite their shared financial expertise, they occupy distinct roles within an organization.
A CFO is the strategic visionary, aligning financial strategies with corporate objectives, fostering long-term planning, and steering investment decisions to fuel growth. Conversely, CAs predominantly focus on upholding financial compliance and maintaining precise records. CFOs also assume the mantle of risk management, proactively identifying potential financial risks and crafting strategies for mitigation, while CAs tend to concentrate on identifying past financial irregularities. Furthermore, CFOs boast deep operational insights, leveraging financial data to optimize processes and enhance efficiency, whereas CAs may not engage to the same extent in operational matters.
Highly effective communication skills are another realm where CFOs shine, adeptly translating complex financial information into actionable insights for the executive team and stakeholders. And coming to the Indian business landscape, where the concept of Chief Financial Officers (CFOs) remains relatively unknown to many, Subhash Lakhani has emerged as a revolutionary figure, tirelessly advocating for the indispensable need for CFOs in modern enterprises. His own journey serves as a compelling testament to the transformative power of CFOs in driving business success, and he has become a beacon of financial innovation. In this exclusive edition, we sought to illuminate the pivotal role of a CFO, and in our quest, we discovered that Subhash Lakhani’s profile aligns seamlessly with our mission.
TRACING THE ROOTS
Subhash Lakhani’s career is a tapestry woven with significant accomplishments and diverse experiences across various multinational companies and industries. His remarkable journey began with humble origins as an Accounts Assistant at ‘Viva Textile (Harry collection),’ a Textile Company based in Dubai where he served for 2 years. His journey then took him to Ratti Trading, he dedicated 2 years to further developing his expertise in various aspects of the industry. Total four years of working experience and insights in Dubai gained during this period proved instrumental in shaping his career trajectory.
This early experience laid the foundation for his future financial endeavors. Upon gaining invaluable experience in Dubai, he made a pivotal decision to return to India in search of new opportunities.
Highlighting his wealth of experience, he states, “I embarked on my professional journey in India via the hospitality sector by joining Royal Inn Hotel Pvt Ltd., marking the beginning of my career in the country. Later, I joined Arcus Limited (Time Of India Group) where I received considerable experience by honing my skills and learning the nuances of the business world.”
His career in India led him to work with renowned multinational corporations, including ‘ThyssenKrupp Elevators,’ a Germanbased elevator company, and ‘Tata Honeywell,’ a major player in the Security Systems industry. These roles exposed him to different sectors, enriching his skill set and knowledge base. A significant chapter in his career unfolded with his association with Kamino International Logistics Pvt. Ltd., where he spent 3 years navigating the complexities of the logistics industry.
This role provided him with invaluable insights into logistics management and international trade, adding depth to his professional repertoire. Later, he transitioned to Interport Global Logistics Pvt. Ltd., further expanding his horizons in the dynamic world of logistics. He served there for 3.5 years. These diverse experiences across different organizations and sectors have been instrumental in shaping my career, equipping me with a broad skill set and a deep understanding of various industries.
In this capacity, he made substantial contributions to the financial stability and growth of the company, showcasing his strategic financial acumen. His most recent corporate role was as the Group CFO at ‘Ego Flooring Pvt Ltd,’ where he oversaw the financial operations of the entire group. This experience further honed his financial leadership abilities and underscored his proficiency in managing complex financial structures.
In 2015, Subhash Lakhani decided to embark on an entrepreneurial journey by establishing ‘First Source as a proprietary concern. This visionary endeavor offers Virtual CFO services, enabling businesses to access expert financial guidance without the need for a full-time CFO. Later in November 2019, it happened to evolve into a Private Limited company as a separate entity. The dynamo’s initiative exemplifies his entrepreneurial spirit and unwavering dedication to providing invaluable financial solutions to a wide range of enterprises.
Throughout his illustrious career, Subhash Lakhani consistently exhibited a passion for financial excellence, a remarkable talent for problem-solving, and an innate ability to identify and capitalize on business opportunities. His journey from an Accounts Assistant to an accomplished entrepreneur stands as an inspiring testament to his determination and expertise in the financial realm.
As the founder and CEO of ‘First Source Fintech Pvt Ltd,’ Subhash Lakhani continues to lead the charge in spreading awareness about the pivotal role of CFOs in modern Indian businesses, transforming the landscape one financial innovation at a time. The leader also expresses his gratitude to one of his team members for the inimitable service for the past 4 years. She has served as a strong pillar of growth for these past years. He states that Chandni Bhagtani, Asst Manager Finance and Accounts has made substantial efforts to the company’s growth. With impressive qualifications and a wealth of experience in accounting and taxation, Chandni Bhagtani is an accomplished professional.
THE MOTIVE BEHIND THE VENTURE
Subhash Lakhani asserts a resolute mission that serves as his guiding star in all endeavors. His unwavering commitment is to safeguard and enhance the financial success of the company he serves, recognizing that a company’s financial health stands as one of its most vital assets. In a nutshell, his intrinsic vision is to help start ups to be successful in their endeavours. And the mission, deeply ingrained in his professional ethos, fuels his dedication to making astute financial decisions that contribute to sustainable growth and prosperity.
His leadership is rooted in a set of unwavering values that form the bedrock of his decision-making. He acknowledges the profound importance of aligning his choices with the company’s culture, and he steadfastly ensures that every action he takes is in the best interest of employees, shareholders, and customers alike. He embraces the tenets of integrity, hard work, and dedication, forging a path of ethical leadership that leaves an indelible mark on the organizations he guides. As a fearless leader, he tackles tough decisions when the situation demands, driven by a conviction that these decisions are vital for the company’s long-term well-being.
WHAT DO THEY OFFER?
Subhash Lakhani’s organisation provides invaluable virtual CFO services at a price point that goes beyond mere monetary value, making a significant impact on countless businesses. His commitment to delivering these services extends far beyond financial figures; it encompasses a holistic approach that addresses various facets of a company’s financial well-being. His team collaboratively provides services enlisted below:
• They assist businesses in raising funds by identifying potential investors, preparing fundraising proposals, and providing financial projections to attract investors. • In mergers and acquisitions, they provide guidance by identifying suitable targets, conducting financial analysis, assessing potential risks and benefits, and negotiating favorable terms.
• They perform due diligence to evaluate the financial health of a business before a merger or acquisition, including reviewing financial records and advising on the feasibility of the deal.
• They communicate financial information to stakeholders by preparing reports, giving presentations, and addressing inquiries, and collaborate with internal teams to align financial strategies with business objectives.
• They also serve as liaisons with external partners, such as auditors, legal counsel, and financial advisors, to ensure compliance, manage risk, and maintain strong relationships.
- Stock Market Update
- Top 10 shoe brands in India for men & women 2023
- Top 10 Adorable Gifts for Your Special One
- Top 10 Countries with Maximum Indian Population as Citizens
- Top 10 Small Business Statistics You Need to Know For 2023
- Top 10 highest-paid CEO in the World
- Top 10 richest person of India
- Top 10 Highest-Paid CEOs of India
- Top 10 Most Selling Bikes and Scooters of 2022 in India
- The Success Story of Jeff Bezos
- Success Story Of Elon Musk
- Top 10 Business Newspaper In India