INTERVIEW OF THE MONTH
INTERVIEW WITH MS. SANCHALA PESHWE,
Head Finance Shared Services at TATA AutoComp Systems Ltd
How do you believe shared services of the future will look like? What will they deliver beyond providing a fixed portfolio of scale services?
Shared services are to be seen as an enterprise partner through creating a unified enterprise as an integrator for business transformation. Focus and benchmark on Enterprise capabilities beyond function to enterprise key -> Foundational+ Functional+ Transformation Technologies.
What are some of the good practices that enterprises can adopt to drive cultural change for technology adoption, given that this is an indispensable factor for driving returns?
Adoption is the crux for any transformation. This is a TOP driven approach. Any implementation to be spoken and felt in the new technology in a forum within the organization. We should discourage legacy practice and encourage to adopt developed automation.
How do people within shared services need to be reskilled to get ready for the future? What should enterprises be doing about it?
Upskilling is the key for tomorrow’s shared services. Continuous training and upgrading through courses with institute tie-ups. Job rotation though conventional is the sustainable thing to maintain continued services.
What impact has a digital transformation on revenues and shareholders? Can you share some examples?
Impact can be seen in many ways:
- Cost impact can be explicit in terms of FTEs deploying in different value adds areas.
- Data transparency in terms of auto generated reports through local ERP/Power BI/Microsoft applications.
- Revenue leakage can be identified and arrested.
- Enhances working capital management with timely receivables /payable forecasting/projections.
How have digital solutions helped enterprises to improve actual business processes? Are you seeing any trends relating to this in the past year?
Digital Solutions improve actual business processes:
- Efficiency in CFT compliances-> Procurement and Business development will be exposed to lacunae in the systems.
- Enhances statutory and regulatory compliances-> Accuracy in GST rates/HSN/GST No in PO/TDS rates in masters/EDPMS/IDPMS.
- Visibility in tracking business processes delays and reasons in terms RCA and fixing the same.
