Surpassing Limits To Achieve Success
A leader's role is never limited to his position, in fact, a leader always exceeds his limits to achieve success. Surajit Chakrabartty, Chief Financial Officer, MedGenome Labs, is one of that kind who continually strives to exceed limits.
Playing a pivotal role in ensuring sufficient funds for the smooth functioning of the business, Chakrabartty optimises resource utilisation and efficiently manages financial resources. This effective utilisation has significantly contributed to investor confidence, making MedGenome Labs the most heavily funded player in the genetic testing space.
The company’s undisputed market leadership in genetic testing serves as evidence of their efficient resource allocation. During the pandemic, as an essential services sector that had to operate 24x7, Chakrabartty and his team took on increased responsibility for maintaining operations. They successfully managed the transition to a work-from-home model, addressed logistics challenges amid frequent lockdowns, and prioritised sample mobilisation. His support as a leader and business continuity processes during the crisis ensured minimal disruptions and adverse impacts on growth. Additional revenue sources, streamlined logistics, optimised sample runs, and online initiatives were implemented to adapt to the uncertainties of the pandemic.
Chakrabartty believes in aligning all business units with enterprise-level goals and strategies. Rather than cascading goals downwards, he fosters an ownership culture where employees are aware of their respective business unit goals. As this approach enhances formulation, implementation, and overall alignment of processes and controls.
Under his supervision, MedGenome Labs has improved its gross margins by making procurement logistics more efficient and optimising bulk processing (sample run) and commenced several online initiatives for various touchpoints (including clinical report delivery).
Efficient working capital management, including inventory reduction, improved vendor payment terms, and tighter collections policies, has remarkably enhanced free cash flow.
As a CFO, he recognises the crucial role of technology in ensuring seamless business operations. Understanding the significance of biological data and its potential for creating added value, MedGenome Labs under his guidance has made investments in state-of-the-art AI/ML-enabled bioinformatics platforms and databases. These technological advancements have successfully eliminated process inefficiencies, resulting in improved EBITDA margins.
