Ritu is a qualified CA with 21 years of rich experience in Finance, Accounts, Audit, Taxation, and Reporting in multiple industries. She is a tenacious business controller capable of creating a variety of reports and forms on several types of business evaluation platforms. Being excellent at business planning, researching new operational methods, and implementing strategies for greater profitability and efficiency, Ritu is adept at managing teams ranging from 5 to 15 members.

She has worked with multiple MNC’s as Finance Controller and as CFO with various Indian family-owned businesses both in the Services and Manufacturing fields. Currently, Ritu is the group CFO at Veative Labs Pvt Ltd wherein she is leading the Finance and Accounts function for the Singapore and India entity, having business presence at various international locations. She shares details on her inspiring journey with Women Entrepreneur India. Below are the excerpts.

Give an overview of your insightful journey so far.

I cleared my CA in May 1999 and started my career journey by working as a partner in a reputed CA firm. This gave me an insight that many corporate find it difficult to manage their financial operations and that sparked the desire in me to join the corporate world, wherein I can use my expertise in audit and taxation to the benefit of the organization.

My entry to the corporate world was with a tour & travel company, wherein I was their first Finance Manager. The main focus was on streamlining the accounting and reporting function and bringing and insight into key financial aspects to the management. We established cash control methods, bringing visibility to the management, and worked on improving the profitability. From there, I moved to work with a manufacturing company and joined them as their first CFO. Being first always has its advantages and disadvantages. I had more advantages as there was no baggage to carry forward. I had to start on a new slate, and that gave me exposure to understand and bring valuation by adopting cost-saving measures, efficiency in the manufacturing process, working capital improvement, and financing the growing need of the business. I worked there for more than 7 years and handled the initial HR function, Admin function apart from Finance and Accounts Department. This added a rich experience as I was a part of the Board of Directors and got involved in all the decision-making.

“Ritu is working on upcoming mergers, acquisitions, and FDI as a part of the Veative’s expansion plan”

Then I moved to an MNC and for the first time, I was in a succession role. The challenge here was that the audit trail was missing. I had to start from scratch to build the accounts and finance function. I learned about international accounting practices and reporting. The interaction with Big4 audit firms and working with them added a new dimension to my experience. I got tremendous support from my overseas team.

I am working as Group CFO with an emerging Group, and all my earlier experience of management, working capital planning, budgeting, and controls, making business plans is actively being applied. I am a part of the Board of Directors and actively involved in Strategy and Policy decisions and creating a pathway for the company to handle the upcoming growth plans.

As the group CFO of Veative, what are the key drivers that you deploy to ensure that the company’s finance is used appropriately to meet its short/ long-term needs?

The major key drivers are almost similar in every business. We traditionally monitor Profits, Working capital ratios, Inventory holding costs, Return on Equity, Borrowing costs, etc.

However, apart from the traditional monitoring, I also keep a tab on Recurring revenue metrics, Operating cycle time, Lifetime Value, Customer Acquisition Cost, Customer Profitability Score, Relative Market Share.

In your journey so far, which milestones bestowed immense satisfaction to you?

I am a parent to two kids aged 18 and 15 yrs. It makes me happy when both of them look up to me in pride for where I stand today.

I am proud that I have been able to work regularly without any break and all this has been possible only because of the unconditional support of my husband. I give a big credit to him as I had seen many of my friends leave the profession in between, but my husband always reminded me that I have these great qualities of being a Top Leader and should not leave my profession which is my passion. I am proud of being one of the few ladies who have had the opportunity of heading the Finance department of a Group. I rejoiced when I became CFO the first time some 10 years ago.

After 10 years of becoming CFO, I am much rejoiced to sit on the board of Veative as their Group CFO. This group is fast evolving and has tremendous growth opportunities lined up. I am keenly looking forward to taking the Group to new heights and open new avenues for monetization.

Looking at the current pandemic and its long-lasting impact, how are you preparing your company to deal with it? What changes are you adopting for serving better?

The Covid has allowed CFOs to demonstrate leadership, agility, compassion, and raw competence in their roles. As the first line of defense, we have to find out and forecast the cash collections in the context of the latest sales. In case the working capital remains insufficient, the CFOs should consider other options to raise capital including tapping available lines of credit.

I also find that during a crisis, it is important to communicate clearly and proactively with the investors and boards of directors. I am focusing on the improvements of near-term performances.

Ritu Kapoor, Chief Financial Officer, Veative Labs

Awards & Accolades :

• Ritu is recognized as the “Best contributor” to the leadership team at International Coil Limited

• She was also awarded the Leadership Award under Crestcom Leadership Programme.