Leaders

Historically, finance has been considered a man's domain. However, recent data reveals that this trend is not merely reversing – but the pendulum has actually been gradually swinging in the favour of women. When it comes to financial decisions, women are taking the lead and ‘When Women Lead, Firms Win.’ According to one of the most comprehensive studies, companies with female CFOs are more lucrative and create surplus profits; women’s potential and ability in finance is thus undeniable.

A credible example of women creating waves in the world of finance is Subbalakshmi Venkitadri. She has been in the finance filed for over two-and-a half decades, with valuable contribution across multiple industries and geographies. Subbalakshmi is currently the Chief Financial Officer at Toonz Media Group, a 360-degree media powerhouse and one of Asia's most active animation production studios.

The Women Entrepreneur Magazine team had the opportunity to speak with Subbalakshmi and learn about her professional journey in the financial sector, and the milestones she has reached in her career.

Introduce us to Toonz Media Group. What are some important features about your expertise as a Chartered Accountant and finance professional?

Toonz Media Group is a media and entertainment organisation with a 360-degree vision of all aspects of the media and entertainment industry. Toonz has a long and glorious history. We've been in this industry for more than 22 years. We are one of Asia's biggest animation studios. The Adventures of Tenali Raman, India's first 2D animated TV series, was created by Toonz. We were also the creators of the pioneering 2D animation feature film Hanuman the Immortal.

We've created over 10,000 minutes of 2D and 3D CGI animation content for kids and families so far. Toonz specialise in animation, live action, and feature films and has collaborated with high profile clients including Turner, Disney, Netflix, DreamWorks, Lionsgate, Paramount, Sony, and Universal. Some of the most notable titles we've worked on are Wolverine and the X Men for Marvel; Speed Racer and Next Generation for Lionsgate; Mostly Ghostly, a feature film for Universal; Playmobil with Sony; Dragonlance with Paramount; and Gummy Bear & Friends, and Fruit Ninja for YouTube.

We're diversifying our services beyond content creation now, offering new age techno-creative products and services based on VR, AR, and NFT.

Coming to my expertise, finance and management accounting are my specialisations. This includes working capital management, fundraising, business growth and expansion, mergers and acquisitions, international collaboration, and production financing.

Take us through your early educational journey and prior industry experience. What are the varied expertise you possess as financial and managerial leader with experience across industries? What are some critical business outcomes that you have facilitated by leveraging your expertise?

I hail from Bangalore and I completed my education including Chartered Accountancy there. I have been a proficient student throughout my academic life. In my II PUC examinations, I was ranked second in the state of Karnataka, and in my BCom exams at Bangalore University, I was ranked eleventh. I qualified in the CA exams in 1995.

After completing CA, I joined Grindwell Norton Ltd as a finance officer, where I handled production accounting, cost accounting, and management accounting in a manufacturing set-up. In this role, I had the opportunity to learn the entire pipeline involved in a manufacturing process and import procurement.

Following that, I was offered a middle-management position at Wockhardt Hospital & Heart Institute (now called Fortis Hospital). In 1996, I began working there as finance controller. I was teamed up with Mr. Vishal Bali, who was a visionary in healthcare management. We worked in tandem, where he focused on business development, and I focused on financing the growth and expansion of the hospital.

“Being a woman, never be afraid to speak up or to let your voice be heard. Build a cohesive unit within your working environment, delegate and achieve results.”

For a couple of years, I took a break to enjoy my baby's toddler years.

In the US, I re-launched my career in 2002 as a Financial Coordinator for Commercial Group Inc, a company that specialised in providing low-cost housing to the underprivileged. The position provided me a glimpse of America's underbelly, as well as a perspective on the country's poverty, which is often hidden from the public eye.

Owing to my husband’s IT job, we had to relocate several times within a short span, which also meant several breaks in my tenure. When we moved to Chicago, I started working with Shell Vacations Hospitality, a timeshare company. I joined as a staff accountant because my CA qualification from India was not valid in the United States. However, I was quickly promoted to senior accountant. But after two years, I had to quit since we had to relocate to Detroit, and then to Washington DC. There I started working at Chesapeake Bay Candle. I started as a Manager-Accounts and was subsequently promoted as a Financial Controller.

In 2013, we returned to India; in 2014, I joined Toonz Media Group. It's been seven years and still counting.

During my tenure at Commercial Group, I ensured 100% regulatory compliance and reporting to the federal agencies that enhanced the company’s profile and was instrumental in greenlighting two new housing projects. At Shell Vacations, I played a key role in the successful closeout of books of accounts of two newly commissioned properties. The most notable accomplishment during my tenure at Chesapeake Bay Candle was establishing our own manufacturing unit in the United States with zero debt.

Subbalakshmi Venkitadri, CFO, Toonz Media

Subbalakshmi Venkitadri has carved out a niche for herself in the finance world. She has been a finance professional for over two-and-a half decades, with valuable contribution across multiple industries and geographies.