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 1. Home
 2. Info-tech


UST SEES SCOPE FOR MORE M&A DEALS, EVALUATING TARGET COMPANIES

Updated - August 06, 2024 at 10:49 AM. | Thiruvananthapuram


EYES DACH REGION [GERMANY (D), AUSTRIA (A), AND SWITZERLAND (CH)]; LATAM; AND
MIDDLE-EAST REGIONS TO EXPAND BUSINESS

By Vinson Kurian

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Vijay Padmanabhan, CFO, UST

US-based digital transformation solutions major UST sees opportunities for M&A
deals as it evaluates companies that could align with and grow its technological
capabilities and geographic presence. “This helps us build on our offerings,
expand into new markets of interest, and bring new clients while staying aligned
with company values,” Vijay Padmanabhan, CFO, said.



UST recently completed two acquisitions in Australia, and one in the US. In
Australia, Leonardo and Strativity Group were added to enhance process
transformation and consulting services and to expand its local presence. The
acquisition of Endeavor Consulting Group in the US focuses on life sciences and
SAP, which are high-growth segments, Padmanabhan told businessline in an
interview.

 * Also read: UST to upskill more than 80% of employees in Generative AI 

Looking at new geographies, it is considering the DACH region [Central European
countries of Germany (D), Austria (A) and Switzerland (CH)], LATAM, and the
Middle-East as areas of interest to expand business. Excerpts:


Q


HOW HAS A CFO’S ROLE EVOLVED FROM BEING A TRADITIONAL FINANCIAL STEWARD TO ONE
OF THE KEY STRATEGIC LEADERS DRIVING CHANGE?

I have seen the CFO’s role evolve into more of a collaborator on strategic
decision-making, rather than serving as an isolated contributor. The CFO and
finance team enable the CEO and sales team to prepare commercial conditions that
make large deals a win-win for both parties. While the CFO might own compliance
as a function, he can’t drive it successfully without partnership with the CIO
and technology infrastructure. We also see a trend wherein the CFO and the
larger finance function must collaborate closely with business units. Another
aspect where the CFO’s role has evolved is capital allocation. He must take an
active role in understanding and prioritising investments. This means conducting
in-depth analyses of each investment’s needs, projected ROI, and alignment with
strategic goals. This helps the company balance growth and profitability in
equal measure.

Q


HAVE TRADITIONAL ASPECTS OF FINANCE BEEN AUTOMATED OR DELEGATED SO CFOS CAN
FOCUS MORE ON SETTING STRATEGY, SPURRING REVENUE GROWTH, AND DRIVING DATA
INITIATIVES?  

Yes, in the continual pursuit of operational excellence, CFOs are turning to
automation and artificial intelligence (AI) to transform the landscape of
financial operations. By automating the mundane, they enhance accuracy and
redefine efficiency. This revolution frees up valuable time, allowing finance
teams to pivot towards strategic endeavours to fuel growth. This helps reimagine
financial management to be more agile, responsive, and strategically focused. As
technology dismantles operational barriers, finance leaders are empowered to
steer their teams toward higher-value pursuits, cementing the CFO’s role as a
strategic architect.

Does digital transformation need to be prioritised over cutting costs, managing
cash/risk, or attracting/retaining talent?

Digital transformation cannot be seen in isolation or treated as a separate
channel. Its impact is interwoven with talent, cost management decisions, and
risk exposure. For example, it has the potential to unlock stagnated cash,
especially if it can improve the cash management cycle and reduce working
capital requirements. At this juncture, 70 per cent of CFOs are channelling
investments into digital technologies, notably in hyper-intelligent automation,
aiming for a seismic shift in efficiency and error reduction. However, the real
challenge is extracting the full value of its potential. Upskilling employees,
educating, and enabling them to leverage the power of this transformation are
key to unlocking their full capacity and achieving the most successful outcome.
Digital transformation should be seen as a catalyst to facilitate further
initiatives within the company.

How are CFOs coping with ‘doing more with less and driving profitability growth’
post-Covid?

The pandemic was indeed a huge lesson for any business leader. It added further
momentum to technology adoption, increasingly seeing technology as an enabler
for ‘doing more with less’. It also exposed fault lines in the business supply
chain and highlighted the need to eliminate single points of failure. This
brought CFOs to question the resilience of businesses and their ability to adapt
to volatility. A lot of investments in the post-Covid world have been directed
towards improving this and securing the future of business. Another aspect
brought to focus by the pandemic is the balance between growth and
profitability. A culture of questioning the status quo, especially on cost, has
since come to the forefront.  






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Published on August 6, 2024

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 * interviews
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