SOTC Finance Function: Multiple Changes & Challenges

3-a-sotc-finance-functionThe vision of SOTC’s Finance function is ‘Delighting the Customers’ (Management, Business, Employees and External Agencies) by following SPINE (Straight and Transparent, Partnering with Stakeholders, Innovation, Neutral and Compliant and End-Result oriented) values. 

During 2016, multiple projects and changes have been adopted by the Finance function team, within a span of 8 months. Some of the multiple projects and assignments currently being worked upon are:

  • Zero Based Budgeting Process
  • Internal and Statutory Audits
  • Project Goals
  • New Accounting Standards (IndAS)
  • ERM (Enterprise Risk Management) 
  • Compliance Tool Implementation
  • New Reporting Requirements

    The Finance function has also introduced ‘Saksham’ – an online based e-learning module – to the entire finance community. ‘Saksham’ which means ‘Capable’ ensures that learning never stops  and helps users to stay updated and learn about different topics/subjects, thereby building up diverse competencies. Through Saksham, Finance community members are sent a document featuring a different and challenging topic every month. Thereafter, an online test is conducted. So far, two such tests have been conducted and the response has been overwhelming. The team is now gearing up to implement GST for SOTC India. Implementation of the same has been scheduled from April 1, 2017.