2018 CFO Awards

8 Acquisition International - 2018 CFO Awards MA180028 Best Software Firm CFO 2018 - India Hughes Systique Corporation Headquartered in Maryland, USA, with a development centre in Gurgaon, India, and an operational centre in Bangalore and global presence in UK, US, Germany, UAE and South Korea , HSC offers its clients a global reach and quality services. As a CMMI Level 5 (development model), ISO 9001 and ISO 27001 certified company, HSC can assure its clients of receiving highest possible standards of support and service when they work alongside it. Having undergone many changes over recent years, the organisation relies on senior members of staff, including Manish, who have been with the firm since inception. In his initial comments he explores how his expertise has grown alongside the business, and how he draws on his expertise to support HSC as it seeks to grow and flourish. “Previously I had worked with Hughes Software Systems ltd (HSS) as a Director Finance. During my tenure of 8 + years, I saw the organisation grow from a Revenue base $5mn to over $170mn. The company was a publicly traded company in the Stock exchanges in India. Working at HSS for all these years gave me the experience of all facets of finance function, right from quarterly reporting, system automation, Budgeting, Treasury through to investor relations. This rich experience has helped me to support the firm throughout my career. “After the sale of Hughes Software, the Hughes Management was looking for a CFO for their new venture-Hughes Systique Corporation (HSC) in India and I was fortunate enough to get this opportunity owing to my vast experience. The nature of the business at HSC was similar to the previous organisation, so I do draw some experiences of the past in managing my current organization but with change in time, have implemented new initiatives to increase the efficiency & effectiveness of the finance function at HSC” This role encompasses a wide range of responsibilities, which Manish outlines in detail. “The role encompasses all facets of a finance function, namely Treasury, Management reporting, Business Support, Audit and assurance, Statutory Compliances, Global tax planning etc. With the currency volatility the treasury function has become very critical as it can have a major impact on the profitability, we have evolved a robust hedging programme to ensure we are mostly protected through currency variations. As finance department, it is our responsibility to take care that organisation does not get involved in any assignment which may have future limitations in terms of finance &/or legal aspects. Right from the start of any project, a financial budget is prepared, it is reviewed and compared to actual monthly performance, shared with sales and delivery teams and corrective measures if necessary are taken. Such periodic reviews ensure that the project moves in the correct direction, financially. With Increased cross border transaction with Associated enterprise (AE) transfer pricing assessment scope and horizon has gone under tremendous changes in the recent past and to meet those challenges, have built a robust documentation policy and process to substantiate that the transactions have been entered with AE at Arm length price. Successfully mitigated Transfer price audit. With Continuous changes in the Statutory Compliance framework, one has to be abreast with the latest developments to ensure business runs within the defined parameters and is compliant with all the applicable Laws. Looking to the future, Manish has grand plans for HSC to build upon its already impressive success, as he concludes. “Going forward, we would like to see HSC grow to be a successful company which creates immense value for all its stakeholders. HSC, a part of the EchoStar-Hughes group of companies, is a technology R&D services company with a key focus on many advanced technologies including 5G Wireless, NFV/Open stack, Wi-Fi Hotspot 2.0, Satellite communication systems, Analytics, Blockchain, Device Management, Media Streaming & Car Infotainment etc to name a few. We caught up with CFO Manish Kapoor to learn more about both the firm and his role in its success. Company: Hughes Systique Corporation Contact: Anil Verma Address: D-24 Info city II, Sector 33, Haryana, Gurgaon, 122001, India Phone: 0091 124 4178999 Website: hsc.com