Finance planning & management plays a vital role in every organization’s journey toward success. As a result, the role of a Chief Financial Officer (CFO) is gaining widespread prominence across all industries. As a result, a huge number of individuals are coming to the limelight in recent times due to their profound industry knowledge and exquisite leadership skills. One such finance professional who is driving his organization from the front is Nitin Mittal, the CFO of Afflatus Group.
Having completed his B.Com degree from Kirori Mal College, Nitin is also a certified Chartered Accountant from the Institute of Chartered Accountants of India. He started his career as the Assistant Manager - Accounts at Action Shoes India, post which he has handled financial operations across many companies such as Unisource Trading, Pearl Global Industries, Okaya Power Group, and Rajesh Projects (India), prior to joining Afflatus in 2016. As a seasoned finance industry leader, Nitin is a specialist in the areas of Accounting, Business Development, SAP FICO, Management Information Systems (MIS), and Auditing.
“As a CFO, I have had the opportunity to work with multiple organizations in different roles, and each role has presented its own set of challenges and milestones. Some of the most significant lessons and skillsets I got to learn through those challenges in my career as a CFO are developing financial strategies & roadmaps, risk management, technology adoption, leadership & team building, and staying updated with the latest trends & technologies in the market”, says Nitin.
Overcoming Challenges
For any business leader, keeping up with the rapidly changing technology landscape is definitely an uphill task, and the same was the case with Nitin as well. Along with this, he also had to face a host of other niche challenges such as maintaining a competitive edge in the market, managing a growing team, and staying focused on the company’s long-term goals while simultaneously addressing short-term demands too. Nitin successfully overcame all these hurdles by constantly updating himself with the latest trends in the industry and implementing new technologies that improve the efficiency of the organization’s daily operations.
“My previous experiences have shaped how I approach situations today. For instance, my experience as CFO for a major conglomerate has influenced my leadership style, as I believe that teamwork is critical to success. Additionally, my experience during the great recession of 2008-09 has informed our strategies for the anticipated recession today. Additionally, I emphasize the need to remain agile and adaptable in the face of changing market conditions and customer demands, while also maintaining a clear focus on our long-term objectives. I believe that success ultimately comes down to the ability to balance these short-term and long-term priorities, while also maintaining a strong sense of purpose and vision for our company’s future”, adds Nitin.
Secret Recipe to Success
Nitin strongly believes that having a clear and compelling vision is the two key ingredients for achieving success in any business. Thus, he ensures clear communication of the vision & mission statement to all the team members and gets them aligned to work towards achieving that one common goal. Additionally, staying focused on the long-term goals of the organization while simultaneously being open to change as per the dynamic industry landscape is yet another vital practice that has enabled Nitin to be the successful leader that he is today.
“I believe that a successful visionary approach requires a willingness to challenge the status quo and think creatively about new opportunities and solutions. This means staying up-to-date with industry trends and emerging technologies, while also keeping a close eye on customer needs and feedback. By remaining focused on these key principles, I am confident that we can continue to drive growth and success for our company in the years to come. Another key aspect of my visionary approach is a commitment to fostering a strong company culture that empowers employees to take ownership of their work and contribute their best ideas & efforts toward achieving our shared goals. This is achieved by creating a collaborative & inclusive environment that values diversity and encourages open communication and feedback”, explains Nitin.
I believe that success ultimately comes down to the ability to balance short-term & long-term priorities, while also maintaining a strong sense of purpose & vision for our company’s future
Sharing Insights
Nitin advises upcoming entrepreneurs to stay focused on their goals, persevere, and never get deterred when faced with any challenges. He urges them to stick with talented & motivated individuals who share a similar vision, as this can go a long way in achieving success as a business professional. Well aware of the importance of being in tandem with the changing industry dynamics, Nitin advises youngsters to always keep an open ear for any information pertaining to the latest industry happenings and stay agile & open to change as per the market demands and industry trends.
“I would encourage young entrepreneurs to remain passionate about what they do and to stay true to their values and principles. Building a successful business is not just about making money, but about making a positive impact on the world and leaving a lasting legacy. If you stay true to your vision and your values, and if you are willing to work hard and never give up, you can achieve anything you set your mind to”, concludes Nitin.
