Anjali Bhadbhade, CFO at DHL Lemuir Logistics was faced with a tough challenge changing corporate culture about profitability but succeeded. This is how she did it.
Globalization has brought a lot of growth to countries around the world. This rapid growth in some countries provides a great deal of opportunity for examinations in how finance professionals are handling modern business challenges in high-pace environments. Two of the most talked about and studied are India and China.
For the CFOs that help run these companies, the challenges are vast and ever-changing. One CFO, Anjali Bhadbhade at DHL Lemuir Logistics (a part of DHL India) was faced with a slowdown in the economy, over 100 warehouses with managers struggling to provide accurate reports, and cost management slipping.
There was a problem getting managers to “understand profitability and get them to take ownership of bringing about a cultural change” in order to fix these problems. Timeliness, accuracy, and a focus of profitability had to be implemented in the managers of the various warehouses and business sites.
How Did She Do It?
Anjali and her team created a tool which would interface with Oracle data (Oracle was the software the company used for its reporting) but could much easier be explained and utilized by all site managers. Coupled with this new tool was a systematic training involving on-site practical training as well as information and conversation about why site managers should be on board with the change.
The financial team and management did not let any of the site managers slip through the cracks; they enabled them through training and information to take ownership of the task of improving profitability and growing profitably.
What Was Learned
Even though this success in her career happened over three years ago, Anjali Bhadbhade recalls the most important lesson she learned. She says, “When you start a project, make sure all stakeholders are aware of what he or she stands to gain from the project.” When you make an effort to include all parties and help them see for themselves the benefits of the changes that must happen, it will make transition and change in an organization much easier.