Digital transformation and talent upskilling top priorities for FY25, says KRBL CFO

Ashish Jain, Chief Financial Officer (CFO) of KRBL, the manufacturer of India Gate Basmati Rice, stated that digital transformation of the supply chain and finance function, enhancing capabilities around data analytics and forecasting and upskilling the finance team are his top focus areas for the company in the financial year 2025.

The CFO also highlighted that the company has continued with long-term planned priorities in FY25 and does not have any significant change in direction.

"Top priority for the company is to drive digital transformation. This is directly stemming from the fact that consumer behavior is changing drastically, with consumers increasingly attracted to digitally-driven brands and purchases. This necessitates the digitization of supply chain and finance functions," Jain told ETCFO.

Jain further highlighted that changes in policies and trends in this ever-evolving landscape require the company to adopt more data-driven and financial forecasting tools for better decision-making. Therefore, building a robust data analytics mechanism that can be used for decision-making is his second top priority.

When asked about the spending pattern on technology to facilitate the company's digital transformation and the development of data analytics tools, the CFO said that "the company's technology spend will grow in double digits in FY25 compared to the previous year."

The CFO said that upskilling his finance team and building talent is also among his top priorities for FY25. "Upskilling the finance team to be more agile so that they can deal with uncertainties better is a top priority as CFO," he said.

Driving Compliance Efficiency: CFO's Technological Initiatives

Jain highlighted that compliance is becoming increasingly complex. However, considering its importance for good governance and ensuring fundamentals in the company, he is working on leveraging technology to make the compliance process easier and ensure the company follows it.

FY25 Growth Projections: Strengthened Revenue and Export Surge

The CFO also shared the direction for FY25 growth. Jain stated that the revenue growth for KRBL in FY25 will be much stronger than that of FY24. He highlighted that the company is eyeing double-digit business growth from the domestic market and anticipates much better exports in FY25 compared to FY24.