Integration of technologies is becoming indispensable, say CFOs at RAI Retail CFO Summit

Mumbai (Maharashtra) [India], August 23 (ANI): The integration of advanced technologies in the retail sector is becoming indispensable, Chief Financial Officers (CFOs) highlighted during an event organised by the Retailers Association of India (RAI).

Industry body RAI hosted the ‘Retail CFO Summit 2024’ in Mumbai on August 22, 2024. This event brought together an array of CFOs, CEOs, and finance leaders from across the retail industry.

The summit centered on the compelling theme: New CFO Checklist: A Roadmap for 10x Growth.

As the retail landscape continues to evolve, the role of the CFO is becoming increasingly critical, with a strong focus on embracing digital innovation, ensuring economic resilience, and driving sustainable growth.

The ‘Retail CFO Summit 2024’ provided a platform to explore these essential elements, offering industry leaders a unique opportunity to exchange ideas, learn from best practices, and strategize for the future.

Throughout the day, engaging panel discussions addressed key topics aligned with the summit’s core theme. Noteworthy sessions included in-depth discussions on the strategic role of CFOs in advancing digital transformation, strengthening leadership and human capital, navigating regulatory compliance and risk management, and crafting future-ready financial strategies.

The event underscored the importance of forward-thinking financial leadership in driving exponential growth and preparing the retail sector for the challenges and opportunities ahead.

Speaking about the Retail CFO Summit 2024, Kumar Rajagopalan – Chief Executive Officer, the Retailers Association ofIndia (RAI), said, “As the retail sector undergoes rapid transformation, the role of the CFO is not just to manage finances but to spearhead innovation, ensure resilience, and drive sustainable growth.”

“The integration of advanced technologies is becoming indispensable, as it allows CFOs to create strategies that align with evolving market dynamics while maintaining robust regulatory compliance,” he said.

Speaking about the retail industry outlook at the summit, Hrushit Shah – CFO, Westlife Food World Ltd., said, “The retail industry is at a crossroads where financial leadership needs to evolve to meet the challenges of a digital-first world. Our focus must shift towards integrating technological advancements with financial strategies to enhance efficiency and foster growth. This summit highlights the need for CFOs to lead with agility and foresight, ensuring that we not only navigate uncertainties but also capitalize on emerging opportunities.”