Contribution of Finance Department

others 613 views 4 replies

Guest

Hi All...I am working in an IT Company and in IT companies software engineers play a major role, because they are the main source of revenue. Management also supports them more than other depatments. But if we analyse, finance department also plays a major role in keep the business running by providing support services in various ways, still we are considered less valuable than software engineers. Please share your views how Finance department can contribute more effectively in the growth of an IT company.

Replies (4)

RAMANJU

here to updating the knowledge

485 Points Joined May 2009

Let me start of with your topic: Firstly, I would say that finance department will work for the people who are mainly involved in the revenue source. If you ask me how, I would illustrate from salary processing, fund arrangement, corporate accountability, Invoice processing, financial planning, financial budgeting, costing for cost reduction without comprosing on quality and quantity, pricing the product etc... So, I would say finance department will be weel for business - running efficiently and effectively. Let me have other people views also.

Guest

ya we need some more views...

CA Raunak Maheshwari

in journey called LIFE

394 Points Joined February 2009

hiiiii to alll....

i want to give the answer in a different way...(may b it a silly one)

as per d information as required u/s 217(2A) of comp Act,1956 read with Comp(Particulars of Employees) Rules,1975 n need to form part of directors report...

in annual report of INFOSYS for year 2008-09,

the highest remuneration is paid to Mr. T. V. MOhandas Pai of massive 2,58,93,018....

woppeeeee....and know what...

he is ca+b.com+LLB.

also 2nd highest goes to V. Balkrishnan, CFO of compny, of RS. 2,35,86,740..

also there are more than 15 employees whose packages are more than 30 lakhs...in a IT company...

this thing surely reveals the importance of the finance department....

now time to think upon

how much , each of us wanna get?????????????

Guest

Hi Raunak....your opinion are ok....but if you take in the general sense all the companies are not like infosys and all the employees of finance department are not Directors, CFO, CEO, GM or AGM. In almost all the companies lots of people will be there working in junior and middle level. If you compare the top level only, you will find corporate heads of all the departments are getting equal value. RAMANJU has mentioned some of the very important and critical work done by the finance department without which effective running of the business is not possible. I would like people to through more light on how to present ourselves which will give equal benefit to the company as well as individual. As a finance professional I don't want to hurt any one here, I just want get the opinion on how to present ourselves more and more effectively.