Team Happay
By: Team Happay
Published on: September 8, 2017

life in Happay

An Interview

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.

I have seen the struggle of people when there was a lack of technology. Therefore, I know the importance of innovation. It dramatically improves cost and speed and makes our lives easier.

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.

Cash books, Cashier sitting on cash box, these terms were non-existent to them. Every transaction process was online and fully-automated.

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:

“Boss is out of the station, the cheque is not signed or cheque is pending”. Believe me, when I say, no supplier likes to hear such excuses.

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.

Thus, duration of the transaction was sticking around for 15-20 days on an average.

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.

It has deleted the word “Non-availability” from our dictionary. So, the window of 10-15 days has been reduced to 1 hr or 2 hrs.

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.

If you liked reading this, download our fraud prevention ebook. It might help you.




Team Happay on FacebookTeam Happay on LinkedinTeam Happay on TwitterTeam Happay on Youtube
Team Happay
The editorial team at Happay puts together curated content that helps Indian SMEs and Enterprises take control of business payments. We create content on a wide array of topics from B2B payment trends and spend management best- practices to real-life case studies of how CXOs of different organizations use automation and mobility to manage business spends more effectively.

Leave a Reply

Your email address will not be published. Required fields are marked *