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How Startups are Optimizing Cash Management

Getting on the digital trend has proved to be a boon for businesses, especially the startups.

Most of the Start-ups today need to manage finance & accounts processes on the one hand & expanding business & operations on the other hand. In this entire cycle, managing finance becomes a laborious & tedious work. This critical function with its challenges slows down the business growth. Thus, the role of Finance & Accounts is crucial in providing the right amount of financial fuel in propelling business growth.

The situation becomes complex when multiple Business Units (BU) grow in geographically spread out locations – the typical challenge of retail & E-Commerce companies, or companies having distributed model. The Business will need cash for expenses, else business will suffer. On the other hand, having higher cash at Business Units implies squeeze on precious working capital. The balancing act of having the right amount of cash in each BU is a tough one for all CFOs. In such a situation, there is an urgent need of comprehensive & cost effective solutions for last mile cash management, disbursement, accounting & control over cash expenses.

We have seen that most of the startups in India conditions are similar when it comes to cash management. The companies adopt a manual approach in every aspect like hard copy approval, physical movement of vouchers, manual controls, long processing time, no tracking of vouchers & loss of vouchers in transit. The solution to this entire critical problem is adopting integrated solution for cash management. Startups require an end to end solution which includes –

  • Process for Cash Control with Self Disciplined Audits & Certification Mechanism.
  • Electronic Document storage & retrieval
  • System monitoring of last mile cash level to trigger electronic cash refills, in time, to eliminate cash out situations and optimize working capital
  • Centralized Process for processing/audit of cash expenses in Shared Services Model
  • Centralized query management desk
  • Data integration with client ERP
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But does cash management benefit the startups?

The answer is yes.

We have observed that  cash expenses in startups was reduced by 20% in 6 months through effective audit & control process, reduced working capital by 15% over 3 months, while eliminating cash out situations that were leading to business loss. In addition , elimination of  physical movement of cash to last mile through system monitored refill process provides extra dividends.

Startups were able to adhere to company policy through electronic workflow process with built in company policy-wise matrix. We also built Enhanced Satisfaction Index (SI) at Branch/DP level with effective query management & Zero Capex solution, provided in completely scalable model.

Thus good cash management is king and the benefits are evident as startups have adhered to operating with the aid of technology. Therefore, an automated approach to cash management is quickly emerging as an efficient way to tide over rough patches and to re-emerge profitable for years to come.

Saurav Wadhwa

Co-founder & CEO

Saurav Wadhwa is the Co-founder and CEO of MYND Integrated Solutions. Saurav spearheads the company’s strategic vision—identifying new market opportunities, unfolding product and service catalogues, and driving business expansion across multiple geographies and functions. Saurav brings expertise in business process enablement and is a seasoned expert with over two decades of experience establishing and scaling Shared Services, Process Transformation, and Automation.

Saurav’s leadership and strategy expertise are backed by extensive hands-on involvement in Finance and HR Automation, People and Business Management and Client Relationship Management. Over his career, he has played a pivotal role in accelerating the growth of more than 800 businesses across diverse industries, leveraging innovative automation solutions to streamline operations and reduce costs.

Before becoming CEO, Saurav spent nearly a decade at MYND focusing on finance and accounting outsourcing. His background includes proficiency in major ERP systems like SAP, Oracle, and Great Plains, and he has a proven track record of optimizing global finance operations for domestic and multinational corporations.

Under Saurav’s leadership, MYND Integrated Solutions maintains a forward-thinking culture—prioritizing continuous learning, fostering ethical practices, and embracing next-generation technologies such as RPA and AI-driven analytics. He is committed to strategic partnerships, long-term business development, and stakeholder transparency, ensuring that MYND remains at the forefront of the BPM industry.

A firm believer that “Leadership and Learning are indispensable to each other,” Saurav consistently seeks new ways to evolve MYND’s capabilities and empower clients with best-in-class business process solutions.

Vivek Misra

Founder & Group MD

Vivek is the founder of MYND Integrated Solutions. He is a successful entrepreneur with a strong background in Accounts and Finance. An alumnus of Modern School and Delhi University, Vivek has also undertaken prestigious courses on accountancy with Becker and Business 360 management course with Columbia Business School, US.

Vivek is currently the Founder & Group MD of MYND Integrated Solutions. With over 22 years of experience setting up shared service centres and serving leading companies in the Manufacturing, Services, Retail and Telecom industries, his strong industry focus and client relationships have quickly enabled MYND to build credibility with 500+ clients. MYND has developed a niche in Shared services in India’s Finance and Accounting (FAO) and Human Resources (HR). MYND has also taken Solutions and services to the international space, offering multi-country services on a single platform under his leadership. Vivek has been instrumental in fostering mutually beneficial partnerships with global service providers, immensely benefiting MYND.

Mynd also forayed into a niche Fintech space with the setup of the M1xchange under the auspices of the RBI licence granted to only 3 companies across India. The exchange is changing the traditional field of bill discounting by bringing the entire process online along with the participation of banks through online auctioning.

Sundeep Mohindru

Founder Director

Sundeep initiated Mynd with a small team of just five people in 2002 and has been instrumental in steering it to evolve into a knowledge management company. He has brought about substantial improvements in growth, profitability, and performance, which has helped Mynd achieve remarkable customer, employee and stakeholder satisfaction. He has been involved in creating specialized service delivery models suitable for diverse client needs and has always created a new benchmark for Mynd and its team. Under his leadership, Mynd has developed niche products and implemented them on an all India scale for superior services. Mynd has been servicing a large number of multinational companies in India through its on-shore and off-shore model.

TReDS (Trade Receivable Discounting System) has been nurtured from a concept stage by Sundeep and the Mynd team. M1xchange, Mynd Online National Exchange for Receivables was successfully launched on April 7th, 2017. While spearheading the project, Sundeep and his team have built up the TReDS platform to meet RBI guidelines and enhance the transparency for all stakeholders. This platform and related service has the capability of transforming the way the receivable finance and other supply chain finance solutions are operating currently.

Sundeep is currently focused on providing strategic direction to the company and is working towards achieving high growth for Mynd, which will help in creating the products as per customer needs and increase its top line while maintaining the bottom line. He directly involves, develops, nurtures and manages all key client relationships of Mynd. He has also successfully acquired numerous preferred partners to support Mynd’s technology-based endeavors and scale up its business.

Sundeep has been the on the Board of Directors for many renowned companies. He has played a key role in planning the entry strategy and has set up subsidiaries for many multinational companies in India. In his leadership, Mynd has seen consistent growth at the rate of 20+ % CAGR from the year 2009 onwards. This was primarily because of investing into technology and bringing platform based offering in Accounting and HR domain for the customers.