The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • City
  • Politics
  • Business
  • Education
  • Entertainment
  • Sports
  • Health
  • Crime
  • Forest
  • Featured
  • Vidarbha
Business

Business processes must be aligned to business objectives & culture for sustainable benefits: Alshi

by TLN Team December 20, 2021December 20, 2021
written by TLN Team December 20, 2021December 20, 2021
Business processes must be aligned to business objectives & culture for sustainable benefits: Alshi

VIA Economy & Finance Forum organised a session on Earning Value in Business through Process Improvements With specific focus on SME today at  VIA Auditorium, Nagpur.

Key speaker for the session was CA Nitin Alshi, who has contributed in improving the strategic and operational business processes and has steered internal control structure upgradation in many corporates.

Alshi emphasized that business is built on strategic and operational processes. Strategic processes give direction and operational processes gives profits.  Time and costs are essential in operations. All the processes must be aligned to business objectives to reap sustainable benefits to the business. 

While discussing different methodology to improve processes, he further explained why every business must carry out risk management activity to avoid surprises in business. Application of Forensic accounting tools improves internal controls in business. The business must eliminate the non value added activities to maintain the agility in operations. Detailed Cost and benefit analysis must be done in business to achieve process and entity level objectives.

The business can reach to certain level without having good processes. But to scale up, it must have documented procedures. Core of every big business is their processes, he added. Entire presentation was based on live examples. He shared his own experiences viz. transportation, accounts receivable, accounts payable, inventory, and cheque issue systems. He appealed for integration of MIS with accounting system for better internal control and monitoring. He discussed about fraud vulnerabilities and psychology of fraudsters. He suggested, Organization should look at converting cost centers into value centers. With 25 years of practical experiences, he shared multiple instances where the process reform has transformed an organization and added value to their business. There are various intangible cost which need to be considered while designing and re-engineering the business processes, he shared with examples. He also presented the areas which every management must consider on regular basis during the course of business.

Earlier, CA Naresh Jakhotia, Treasurer – VIA made an opening remark and also introduced the guest speaker.  Shri O.S. Bagadia ji welcome CA Nitin Alshi with floral bouquet and gave welcome address. He requested the industries to take the advantage of the programme and highlighted how the process re-engineering has helped organization grow and outperform others.  CA Sachin Jajodia gave the concluding remarks and proposed the formal vote of thanks. The programme was well attended by lot many members and industrialist which includes Mukund Mohota, Jayant Pimpalgaokar, CA Nidhi Alshi, and various others.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
MSRTC employees’ to continue strike, defy Union leader Gujar’s order
next post
Medical emergency on train? Here’s what a person should do

You may also like

Withdrawal of GST exemption on Room Tariff will...

June 30, 2022

VIA-LEW organized program on Recent changes in Income...

June 30, 2022

Seminar on amendments in GST and compliances in...

June 30, 2022

GST new rates, check list of items, services...

June 30, 2022

Isha Ambani to become chairman of Reliance conglomerate’s...

June 29, 2022

Power Deptt, Adani group sign MoU, Generation of...

June 28, 2022

Mukesh Ambani resigns as Director of Reliance Jio

June 28, 2022

Session on  Succession Planning, Will, recent changes in Income...

June 26, 2022

Income Tax dept issues guidelines: TDS on crypto...

June 23, 2022

Technical Seminar on “Single Use plastic”

June 21, 2022

Trending News

  • Rise in COVID cases, India reports 18,819 positive in last 24 hours

    June 30, 2022
  • First batch of pilgrims leaves for Amarnath Yatra

    June 30, 2022
  • India bans single use plastic, to be in effects from July, check list of ban items

    June 28, 2022
  • Drop in COVID cases, India detects 11,739 positive in last 24 hours

    June 26, 2022
  • Fake! NPCI clarifies on fraud claim videos on Fastags

    June 26, 2022

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

December 2021
M T W T F S S
« Nov   Jan »
 12345
6789101112
13141516171819
20212223242526
2728293031  

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us
  • Work with us
  • Contact Us

© 2020 - The Live Nagpur . All Rights Reserved.