The finance team at Asian Paints works closely with the business to understand the story behind the numbers. The department comprises teams for accounts, taxation, legal, finance, secretarial and the shared service centre. This results in a plethora of roles for employees to have varied exposure – some focus on book keeping, ensuring that necessary compliances and checks are maintained, while others do exploratory research to evaluate new business and markets, to support organisational growth.

The team appreciates people who understand business processes and how internal systems work. This helps one comprehend what the financial numbers really mean, and their implication for the business. They also act as conscience keepers for the business, so that laws are complied within letter, but also in spirit. This involves advising the business on a regular basis, and also partnering with them to enable compliance.

Structure

Here’s a glimpse of the different teams in finance at Asian Paints and what they do:

 

The team helps one comprehend what the financial numbers really mean and their implication for the business. They also act as conscience keepers for the business, so that laws are complied within letter, but also in spirit. This involves advising the business on a regular basis and also partnering with them to enable compliance.

 

Milestones

The finance team is proud to have been ahead of the curve in implementing strategic processes. Here are a few recent ones :-

  • For instance, when sales tax was replaced by Value Added Tax (VAT) in 2008, they were among the first FMCG companies to align the new payment system into the Enterprise System (ERP). This was achieved over 2-3 days, with minimal disruption to the business.
  • Similarly, in July 2016, when the Ind-AS implementation called for a different way to prepare finances, the government gave an extension of the date but Asian Paints released its Q1 results on time, fully compliant with the new standards. This was made possible with intense preparation, modifying formats of capturing data, aligning with external auditors and more.
  • The Indian Meteorology Act was made into an act in April 2016, which instituted far reaching changes in packaging guidelines. Asian Paints had proactively instituted this earlier in December 2015!

 

Testimonials

Working in APL itself is a highlight for us. The learning experience that one goes through in this organisation helps one to focus on achieving the greater goal, not only in office but also in life.

Kavish Danani, Office Level I

The very thought that even after 20 years, there is always something new to learn and evolve both professionally and personally, speaks of the development one experiences in this great organisation.

Amit V Bhangi, Officer II

leadership speaks

 

 

Image