Having a strong and meritorious academic background, VS Poornima started her career in the United States after cracking CA in the first attempt. Later, she worked for many Indian and foreign MNCs in India. Getting to work with highly-ethical and professional Tata Group at the very beginning of the career, helped her nurture the best practices and not compromise when it comes to doing things in the right way. She learned all the nuances by working in India’s best manufacturing organizations, before moving to services companies in different industries. Various roles, different functions, and geographies outside India added many success stories and cultural experiences over the last 25 years.
As a leader, she doesn’t believe in the rat race and politicizing issues but believes in doing the right things. “During the professional journey of over two decades, there were many challenges, many blessings, lots of opportunities that made me the person I am today. God has been benevolent,” she mentions. Women Entrepreneur Magazine engages an exclusive conversation with Poornima to know more about her insightful journey.
Brief us on your educational background and professional background. How has it helped you in your journey so far?
I would say, quite different streams of knowledge attracted me at different times. I did Marathi Visharad, Hindi Pravin, German language courses in literature, and passed all drawings exams with high grades in Arts, etc., before getting into Chartered Accountancy. The professional learning journey continued thru an advanced finance diploma from Stockholm School of Economics- Sweden, Six Sigma Green Belt, and various certifications for TQM, ISO, Kaizen, IFRS, US GAAP, management, strategies, team mentoring, and leadership crush courses.
What different roles have you been undertaking in your career so far?
During my professional journey with different organizations, I was fortunate to work in several roles from Finance Analyst to CFO. Finance Business Partner for Sourcing, Marketing during a phase of historical changes taking place in the organization in manufacturing organizations. Business Support Unit Head and Board member for Indian and overseas Companies in Asia Pacific region, in addition to being responsible for Finance, HR Admin, Facilities and real estate, Admin, legal & Compliances, as global and regional process owner in European, Scandinavia, American and Indian MNCs.
“The journey needs patience and extra efforts to make your actions speak, leave the outcome to almighty, the final success is always yours”
As the CFO of principal, 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?
A focus on sustainable value proposition is key for long-term sustainable success without losing a focus on the short-term needs and successes.
Businesses have to deal with dynamic uncontrollable internal and external (including regulatory) variables, agility and simplicity are critical. Talent development (Reskilling and upskilling) and investing in the right technology at the right place is key, to be cognizant of the ever changing customer delights and still be costoptimal is a sword walk.
Having proper financial provisions made for contingency comes in handy in difficult times like the current pandemic.
“Having worked for various corporates for a long, i would say - do not assume anything, keep an open mind, be a student always, and do your best”
What were the initial challenges that taught you the basic lessons of managing diversified functions of organizations?
I would say, liquidity, revenue, and profitability pressure in an organization push to be optimal in financial planning. Market competition pushes you to creative and faster in response. People's issues expect you to be more sensitive, empathetic, and always to do what is right. Women leaders are always very fewer in numbers in the male-dominated corporate world. Women are always in minority in most of the forums. Making your voice heard takes extra effort.
Having worked for various corporates for a long, I would say - Do not assume anything, keep an open mind, be a student always, and do your best. Action speaks louder than words. Be patient and things will work out the right way if you continue to do the right things.
How does your experience help you to chalk-out efficient business modules at principal?
I think, in every MNC, alignment with the group is a key to success. Many things are happening in all corners of the organization. Especially, talking about my area, various initiatives resulted in automation not only in finance but also in legal, and compliances, over the last two years, which enhances ability in analytics, enhances transparency, and operational efficiency. Principal being GIC for PFG, there is a great emphasis on RPA and innovation thru incremental improvements as well as quantum improvements in businesses, this helps to enhance a value proposal.
In your professional journey so far, which are the milestones that bestowed you utmost satisfaction?
I am also amongst those few passing CA both groups at the same time when passing percent used to be just 2 to 3.
I was selected by the group CFO to lead few global projects with significant impact. Got an opportunity for setting up a finance shared service center for countries in Asia. Being a part of the core team member of international tax planning, restructuring, treasury and forex management for Asian countries, transfer pricing positioning, divestment project, and some acquisition projects, legal restructuring of companies with high stake was very encouraging at that point of time of career, which gave tremendous exposure. I was also asked to take up a global role based out of Europe, which, unfortunately, I could not take up due to personal reasons and remote working was not so common those days.
I think there are various such occasions in the whole journey, which made me feel professionally satisfied and rewarding.
VS Poornima, CFO, Principal
To begin with, I will share some of the academic awards and honors, stood 2nd in Maharashtra in Marathi Pradyna and 3rd in Marathi Visharad, got several academic awards in college including stood 1st in Pune university in Economics in degree.
There are quite a few project-based awards and recognition during the entire journey, I will mention few occasions, when I was rewarded and recognized, for the fastest ERP implementation, ensuring the right value quantification out of cost optimization for material cost in Manufacturing, Six Sigma project, a leader with higher ESS score, few highly critical, high value and sensitive negotiations projects, leading efforts on the integration of acquired companies, successful implementation of regional shared Service Centers.
I think the journey continues and every organization has different needs and perspectives.
