With 20,000 employees and annual revenues of US$7 billion, it is easy to imagine Thai conglomerate Siam Makro would have a sizable finance team. But its Director and Group Chief Financial Officer (CFO) Saowaluck Thithapant says there are less than 50 staff in the finance team supporting the country’s leading Cash & Carry operator in wholesale trade center for professional business operators.
Siam Makro is the parent company of premium food solutions provider, FOODSERVICE Asia Pacific Middle East (APME).
The secret to the team’s efficiency is a belief in digital transformation and innovation. Every year, the finance team must propose at least one project that can automate a time-consuming manual task.
For example, in 2019, Siam Makro implemented an e-payment system using QR codes. This system reduces paper costs, increases convenience for customers and cuts down on cash collection fees. The use of e-wallets for payments was also introduced.
Thithapant’s responsibility also encompasses legal, quality excellence, investor relations, business development and human resources.