We interviewed Mr. Anthony Pinto, the head of Finance and HR at Ace Micromatics, in this part we discuss how automation helped his company improve relations with the vendors and why it was important to do so.
Ace Micromatic Group is one of the largest manufacturers of CNC (computer numerical control) machines in India. Ace Micromatic Group, takes automation very seriously, this revelation only struck me, after I had a chance to interview Mr Anthony Pinto.
He has dedicated more than 35 years of his life dealing with accounts and finance of multiple reputed companies in the industry. A torch bearer of technology and innovation in the finance domain, his hunger for technical innovation and upliftment is perdurable. His enthusiasm towards automation and technology was tempting enough to make me reach for a question from my quiver.
Q: What triggered your craving for automation in finance domain and how?
Mr.Pinto: I started my career in 1983, way before the inception of technical revolution in India. That was the age when even calculators were hardly available. All things were manual and paper based. Cash book, bank book, ledger postings. Imagine the hardship we had to go through while calculating trial balance manually.
Q: What prompted you to bring automation to finance processes?
Mr.Pinto: During my visit to Germany and China for business meetings, I observed that people never had a cash account there. It was quite fascinating to me.
I was completely awestruck with the smoothness and ease they handled their financial processes. After my return, first thing I did was to adopt the online banking and started looking for various solutions, which could automate our financial process entirely.
Q: What pains were you actually going through with the existing system in your company?
I was prepared for an elaborate answer and I wasn’t disappointed. He gave a detailed panorama of all the processes.
Mr.Pinto: When a cheque is issued, it goes through the various level of approvals from a senior level employee to manager. We are multi-located and all of our authorities are decentralised. Suppose we have 20 branches, it means 20 branch managers and each branch manager signs the cheque for his branch.These branch managers are mainly marketing people who travel most of the time. So, even if the branch manager is out for several days, the cheques get stuck there till he comes back and signs it.
In the meantime, if the supplier feels helpless.
The typical answers accounts people give are:
This not only tarnishes the image in the market, but also affects your relationships with people you are doing business with.
Even if the cheque gets signed in time, it has to go through courier services and we know, how efficient they are. Now, this entire process of payment used to take around at least 10-15 days. Plus the clearing time.
That’s why I was looking for a product which could be the panacea for all these issues.
With Happay, we are just a click away from transferring money to our suppliers and that too on the go.
Our vendor payment process is more improved and streamlined. Our relation with our suppliers has notably improved. Not to forget, the good stature in the industry.
In the second part Mr. Anthony Pinto tells us the ROI he has experienced with automation and it is an eye opening figure.
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