• Most of the procurement transformations FAIL and are unable to achieve the desired results, further creating chaos in the organizations. The failure to bring change to a function, process, or organization primarily starts with too large of a vision, botched execution, and a gamut of factors despite the best intentions. Due to the COVID crisis, there is a renewed focus on cost reduction, finding efficiencies, and putting the right payment controls in the place. Inefficiencies and financial leakages from the internal procurement processes have made the job of a CFO very difficult. Examining successful procurement transformations, there are few things
  • A lot of us would have played cricket at some point in our lives. The sight of a ball hitting the wickets and dislodging the stumps is a treat to the eyes. However, not all balls hit the stump forcefully enough to dislodge the stump and in some cases, the stump may just bend and then come back to its original position. Back in 17th/18th century, there were no instant camera replays, and therefore, in such a case, there was always a possibility of a dispute on whether the ball hit the stumps or not. Common sense says that these
  • Covid-19 has given the opportunity to people as well as companies to reassess what they have been doing right, not so right and how they can evolve /grow to the next level when we all come back with more vigor, more enthusiasm and ready for the next level of sustainable growth! At the heart of all decisions, finance remains one of the most important one be it for individuals or for companies. Given the time on hand, it is a golden opportunity for companies to look at some of the important aspects of financial re-engineering which may would have been
  • In the last couple of months, we all witnessed how work-from-home (WFH) emerged as a big savior for some of the industries. Both the proponents and the naysayers of WFH saw it working beautifully at all hierarchy levels and functions in the time of crisis. It helped strike a fine balance between economy and survival. However, the make-shift solutions built during the crisis, focus majorly on just keeping the lights on. As the environment changes and normalcy resumes, such solutions start giving diminishing returns. When the activity recommences and the available options grow, so do the distractions and the urge
  • COVID-19 pandemic has created an unprecedented opportunity to transform & digitize the Procurement function by pulling three levers of People, Process & System to effectively deliver Financial Optimization, Business Efficiency, and Risk Mitigation. Most businesses were left vulnerable with supply chain disruptions, no documented plan and underinvestment in procurement capabilities. The last-minute scramble with minimum digital foundation found an uncoordinated, inefficient, and unpredictable response from procurement leaders, finance, operations, legal, suppliers and other stakeholders. The Unprepared Procurement Function With the current crisis, CFOs and leaders of the organization are being asked for areas of significant cost reduction, for which usually
  • In conversation with YourStory, Rohit Dak, Managing Partner of Zeolyt Accelerator, speaks about the need for another accelerator, what his team looks for, and how it benefits early-stage startups. Read more at: https://yourstory.com/2020/03/early-stage-startup-accelerator-zeolyte
  • Time is ticking away. Isn’t it? It does not stop for anyone. How many hours did you spend being self-aware and intentional in the last 24 hours? The answer is not at all acceptable on most of the days for many, and it is more puzzling for the entrepreneurs who are always in the hustle mode. The ability to say NO to most of the things that come entrepreneurs’ way and strategically focus on where to invest time comes with practice and discipline. Saying NO leads to effectively leveraging your time. Think, each time you say YES to something, you are