Beyond Finance: A CFO’s Role in Shaping the Future of Business

Ramani Dathi, CFO of TeamLease in an interaction with Janifha Evangeline, Editor of Higher Education Review, shares the remarkable journey that shaped her path to financial leadership. Her story is a powerful testament to vision, adaptability, and strategic foresight — qualities that have defined her career across the audit, consulting, and corporate finance landscapes. From her early beginnings to steering major IPOs and leading critical M&A initiatives, Ramani’s journey highlights the evolution of a finance leader into a true business strategist. Get ready to be inspired by a story of resilience, deep business insight, and an unwavering commitment to building value and driving growth.

Could you share the story of a professional journey leading to the role of a CFO? And what were the defining moments that shaped your approach to leadership?

I began my professional journey with the chartered accountancy firm Suresh and Babu. Following my qualification as a Chartered Accountant, I moved to Bangalore to join PwC, where I worked extensively with manufacturing clients in the Audit and Assurance practice.

Subsequently, I transitioned to Deloitte in Hyderabad, continuing my focus on audit and assurance. While the consulting experience with Big Four firms was invaluable, I aspired to move into corporate finance to actively contribute to business growth and strategy, rather than merely reviewing historical performance.

With this objective, I sought an opportunity with a high-growth company poised for an IPO. I joined Teamlease, then a ₹2,000 crore organization growing at 15–18% annually. I led the end-to-end IPO preparation, managing engagements with multiple bankers, legal counsels, auditors, stock exchanges, and SEBI. The experience of managing over 35 critical daily deliverables during this phase was transformational.

Following the IPO, I shifted focus to Mergers and Acquisitions, leading eight strategic acquisitions over four years. These initiatives significantly diversified Teamlease's portfolio and today contribute nearly 40% of the company's ₹10,000 crore revenue. Recently, we have also announced three additional acquisitions to further enhance growth.

This journey enabled my transition from a finance professional to a business leader. During the COVID period, I was elevated to the role of CFO. In this capacity, I have emphasized strengthening corporate governance, regulatory compliance, and transparent stakeholder communication, particularly in managing investor relations and financial disclosures. Equally, I continue to focus on driving sustainable business growth and value creation.

Overall, it has been a deeply enriching journey — from audit and assurance to leading finance and corporate strategy at a listed enterprise.

In your view, what are the most vital skills for a CFO in today's business landscape? And how have these skills evolved throughout your career?

In today’s landscape, a CFO’s role is driven primarily by business understanding rather than just financial expertise. Fifteen to twenty years ago, the focus was largely weighted — about 70% — toward finance, with 30% attention to business administration and strategic direction. Today, the dynamic has reversed. A modern CFO must dedicate 60–70% of their focus to understanding the company's long-term vision and business objectives.

Without a deep grasp of the company's strategic aspirations, meaningful investment decisions and planning are impossible. Therefore, strong alignment with the board on business strategy has become the CFO’s most critical responsibility.

In addition to this, approximately 30–40% of a CFO’s role still encompasses the traditional pillars: establishing a robust governance framework, setting up effective control processes, building a capable team, and embedding a culture of transparency across the organization. Importantly, corporate governance should not remain confined to leadership — it must permeate the entire organization’s culture. Driving this culture is a vital part of the modern CFO's mandate.

For those who aspire to reach the CFO position, what advice would you offer to cultivate the necessary skills and mindset for financial leadership?

For a CFO, beyond mastering finance, taxation, and compliance, three key skills are essential:

Decision-Making Ability:

Effective decision-making is critical for any leadership position, especially for a CFO. As the head of the finance function, the organization looks to the CFO to guide decisions across a wide range of issues — from finance and taxation matters to managing shareholder communications and responding to critical events. A CFO must process diverse information, evaluate multiple options, and act decisively, whether the matter is operational, strategic, or governance-related. Strong decision-making builds trust, provides direction, and enables the organization to navigate uncertainty.

Subject Matter Expertise and Continuous Learning:

While leadership skills are crucial, deep functional expertise remains non-negotiable. In today’s rapidly evolving environment, continuous learning is vital. Regulatory frameworks, accounting standards, and compliance requirements are constantly changing, particularly for listed companies. Moreover, a CFO must stay informed about industry trends, competitor strategies, market shifts, and emerging opportunities. Understanding both the finance domain and the broader industry context enables better strategic planning and investment decisions.

Talent Development:

Building and nurturing a strong finance team is a core responsibility of the CFO. Talent management cannot be outsourced to HR or delegated elsewhere. A CFO’s ability to focus on high-impact areas — such as strategy, business partnering, and risk management — depends on having a capable team that can independently handle routine financial operations. Investing in team development, providing career progression, and creating a robust talent pipeline are critical to scaling the finance function and supporting the company's long-term goals.

In summary, strong decision-making, continuous upskilling, and building high-performing teams are the pillars for anyone aspiring to succeed as a CFO.

Collaboration between departments is essential for organisational success. So how do you ensure that finance works cohesively with other departments such as operations, marketing and HR, creating a unified approach to business goals?

Finance plays a uniquely critical role in any organization, second only to the CEO, in having a complete overview of the company's operations. Finance teams understand where money is flowing in and out, which departments require more resources or investment, and how funds are being utilized. Along with HR, finance is one of the few functions that maintains a comprehensive view across the entire organization.

Because of this, finance must work closely with every department — operations, administration, HR, business, and technology. Even in areas where financial impact may not be immediate, finance can offer strategic insights. For example, while finance may not directly influence the choice between print advertising and digital marketing, it plays a vital role in assessing how those choices impact business plans, profitability, and resource allocation.

By actively engaging with all teams and understanding their plans and investment strategies, finance brings a critical layer of business perspective that helps ensure informed decision-making and sustainable growth.

Are there any specific certifications or degrees you recommend for students or professionals looking to excel in the finance sector?

The certifications or additional qualifications a CFO or finance professional should pursue depend largely on their specific role and industry. While foundational degrees like a CA or MBA in Finance are standard, specialized certifications can add significant value depending on the business environment.

For instance, in highly tech-driven industries, it is beneficial for finance professionals to undertake certifications or short-term courses in areas like AI, machine learning, and digital tools, focusing on how these can enhance business operations. In people-intensive industries like staffing and HR solutions, certifications related to recruitment technologies and people management systems can be highly relevant.

Those looking to deepen their expertise in finance itself can pursue advanced certifications in direct and indirect taxation, or if they aspire to broaden their scope into corporate governance, a Company Secretary (CS) program can be a good fit. For CFOs in manufacturing industries, a CMA (Cost and Management Accounting) qualification is valuable. In companies with significant international operations, pursuing a CFA (Chartered Financial Analyst) or a CPA (Certified Public Accountant) — particularly for U.S.-focused companies — can be more relevant.

That said, I personally believe that while certifications are useful, the greatest learning often comes from working closely with business leaders and gaining hands-on experience. I recommend focusing primarily on functional training — whether in finance or in complementary business areas — rather than relying heavily on short-term executive programs.