Dear Team,
April is the month that we look forward to in Finance. It is the month of introspection to evaluate the year gone by and also the month of hope that the new financial year’s beginning carries with it.
As a company, FY 2022-23 was a year to remember, as we built a lot of records in the history of the group, with the highest-ever growth, revenue, and profits. In terms of financial discipline, we exhibited a lot of strength to withstand the unreasonableness of our bankers during the peak season. We also achieved completion of the host-to-host integration – which digitalizes our payment processing and fastens up the stages.
We anticipate a fantastic year with numerous accomplishments to be made in 2023–2024. We have already begun speaking with financial institutions about Project Jagriti’s funding needs, and we plan to have our first inflow of cash by July 2023. This will be the main focus area as a team this year. We will need to rework our controls, cash flow monitoring procedures, foreign exchange savings, and regulatory compliances.
Also, we want to revamp our digitalization procedure more forcefully in 2023–2024. We have a connection with the Bankers for an integration, whereby accounting entries in the relevant ledgers are also completed immediately when payments are handled through SAP. This reduces the risk of error further and also saves a lot of time.
As the service provider to all other teams in the organization, you will see a lot of interaction this year from the Finance Team for documentation, process controls, and various other steps and procedures that connect to the objective of making the organization a “tech-centric, internal control driven” enterprise.
