**Mississauga**: Alok Ajmer, CEO of Prophix, emphasises the importance of innovation and a people-focused leadership approach in transforming the finance function. He advocates for technology adoption and collaboration to reshape financial roles and improve value creation in organisations facing rapid market changes.
Alok Ajmer, the Chief Executive Officer of Prophix, has shared insights into the evolving landscape of the finance function amid advancing technologies and changing roles within the corporate sphere. Prophix, based in Mississauga, Ontario, offers a financial performance management platform targeting CFOs and finance professionals, positioning itself as a leader in adapting to the significant shifts occurring in the finance industry.
Ajmer highlights the necessity of cultivating a culture of innovation within an organisation, prioritising a “people-focused” leadership approach. He states, “For our company, we genuinely strive to practice people-focused leadership because we genuinely care, value and respect all Phixers, as our employees are affectionately known.” His leadership philosophy emphasises active listening and open communication, creating a supportive environment for diverse perspectives. The core values of Prophix focus on continuous innovation while ensuring that improvements do not disrupt organisational momentum.
Having progressed from consultant to CEO, Ajmer attributes his loyalty to Prophix and the finance sector to a strong belief in the company’s vision and the industry’s potential for transformation. He acknowledges that while automation and technological capabilities in finance have advanced significantly, many foundational aspects of the industry have remained consistent. Ajmer emphasises that the corporate finance sector has experienced limited technical disruption until recently, but this is rapidly changing. He notes, “These technologies will enable finance leaders to reshape the perception of their roles from ‘bean counters’ doing mundane, spreadsheet-centric activities to strategic contributors.”
Ajmer advises finance professionals to fully adopt current technologies while preparing for future disruptions. He stresses the importance of data collection, remarking, “Too many professionals aren’t even collecting it now, and it’s setting them up for failure.” He insists that the finance function must embrace collaboration with other business areas, encouraging finance professionals to consider themselves as an “internal service bureau,” fostering stronger partnerships with various functional teams within the organisation.
As a leader within the technology sector, Ajmer regards this period as particularly invigorating, driven by the rapid development of AI and automation technologies. He observes that the accelerating pace of these innovations opens new avenues for value creation within businesses. However, he also acknowledges the accompanying uncertainties in the global market, highlighting concerns around burnout for leaders in high-pressure situations.
In conclusion, Ajmer believes that the future of the finance function will be characterised by deeper collaboration across departments and a more strategic use of data and technology, insights that resonate for those navigating the complexities of modern corporate environments.
Source: Noah Wire Services
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