Could you please share your background and experience in the financial industry?
How has your previous experience helped you in your role as the Finance Manager at axis?
Prior to joining axis, I worked in various sectors, including offshore information technology & services, retail, automotive & auto repair, food and beverage services, entertainment providers, and construction.
Within these industries, I have meticulously refined my skills in financial analysis, strategic planning, treasury, budgeting, forecasting, cash management, and financial modeling. These previous experiences, coupled with my work as a financial consultant in various sectors, have helped me to shape the financial structure of axis as a company and as a product as well.
axis is addressing several pain points that many financial managers are currently facing in cash-dependent businesses. I have personally encountered and dealt with these challenges, which has enabled me to assist axis in developing a product that caters to the needs of financial managers like myself.
As a Financial Manager, what are your primary responsibilities?
Can you walk us through a typical day at axis?
My typical day is mainly juggling between my responsibilities which are primarily:
1. Financial Analysis: Conduct in-depth analysis of financial data, interpret trends, and provide meaningful insights to facilitate informed decision-making.
2. Risk Management: Identify and assess financial risks, formulate risk mitigation strategies, and implement appropriate controls to safeguard the organization's financial interests.
3. Compliance: Ensure compliance with relevant financial regulations and standards, minimizing the organization's exposure to legal and financial penalties.
4. Strategic Planning: Collaborate with key stakeholders to develop strategic financial plans that align with the organization's long-term objectives and drive sustainable growth.
5. Budgeting and Forecasting: Lead the budgeting and forecasting processes, employing accurate financial projections to support resource allocation and financial planning initiatives.
6. Cash Management: Implement effective cash management strategies to optimize liquidity and monitor burn rate.
7. Financial Reporting: Prepare and present comprehensive financial reports, including income statements, balance sheets, and cash flow statements, to facilitate transparency and informed decision-making for the top management.
Collaboration is often essential in a fintech startup like axis. How do you work with other teams to ensure proper implementation of your financial system?
I believe collaboration is not optional for any department, especially when it's an enabling department like finance.
My role here is to enable and empower other departments to smoothly achieve their objectives. This includes working with the management team to monitor the burn rate, supporting the marketing team to optimize the return on investment, ensuring the office management department has adequate resources, and facilitating a seamless salary cycle for the people team, among lots of other things.
I hold weekly meetings with the heads of all departments to ensure alignment and address any potential obstacles. Clear communication of expectations is crucial, particularly when technical issues arise that may cause delays for certain departments. Regarding our core business, I closely collaborate with the operations team to fully understand the e-money cycle & process. Together, we ensure that all gaps are addressed and filled.
We have observed that many startups are currently encountering significant challenges related to high burn rates. Could you please outline your strategy for ensuring that you do not exceed the burn rate set by the CEO?
The key lies in thoroughly analyzing the company's profit and loss (P&L) statement and gaining a comprehensive understanding of the revenue structure. This enables me to align with the CEO on the priorities for the upcoming period.
My approach involves constantly seeking ways to optimize expenses while considering the CEO's perspective. It is crucial to maintain a balance between being a facilitator and avoiding becoming an impediment to the company's growth.
