Transforming Finance with AI - Amrita Choudhary Leads the Way

Amrita Choudhary, Accounting Manager at Wasabi Technologies, exemplifies a leader whose journey and vision resonate with inspiration and strategic foresight. Wasabi Technologies, a trailblazer in cloud storage innovation, has carved a niche by delivering high-performance, cost-effective storage solutions. Unlike its competitors, Wasabi offers enterprise-class storage that is significantly more affordable and faster than traditional options like AWS S3, without hidden egress fees or API request charges. This commitment to transparency and efficiency has solidified Wasabi’s position as a leader in the cloud storage industry.

A notable advancement in Wasabi’s offerings is Wasabi AiR™, unveiled on April 9, 2024. This innovation integrates high-performance object storage with AI capabilities, such as automatic metadata tagging and multilingual speech-to-text transcription. The company has secured over $500 million in funding, reflecting strong investor confidence and a current valuation of $1.1 billion. Strategic partnerships with prestigious entities like the Boston Red Sox, Liverpool Football Club, and the Boston Bruins further cement Wasabi’s reputation as a trusted and influential player in the tech and sports industries alike.

Amrita’s journey to her current role at Wasabi Technologies is marked by defining experiences that have shaped her leadership and professional ethics. A pivotal moment in her career was becoming a Chartered Accountant in India, which ignited her passion for finance and revealed her potential impact in the field. Her transition to the United States opened up the possibilities before her. Enrolling at Bentley University for dual master’s degrees in Business Administration and Financial Analytics was a transformative decision. It was about embracing a new culture, forging global connections, and refining her skills in leadership and technical expertise.

Joining Wasabi Technologies as a Senior Accountant and eventually being promoted to Accounting Manager allowed Amrita to integrate these principles into her professional identity. She led initiatives that streamlined operations and established a culture of excellence. Founding Narratives of Numbers with her husband, Ankit Kumar Honey, highlighted their vision to elevate financial professionals and showcase their global impact, emphasizing how finance can drive meaningful change.

As a founding member and Director of Membership & Networking at the ICAI Seattle Chapter, Amrita led community outreach initiatives and coordinated professional events, enhancing collaboration within the industry. These experiences reinforced her belief in the power of relationships and community to drive professional growth and innovation.

In its finance department, one of Wasabi Technologies’ long-term strategic vision revolves around leveraging the transformative power of AI within the finance domain. The goal is to streamline processes and set a new standard in financial operations through innovation and technology. AI offers unprecedented opportunities to enhance efficiency, minimize errors, and elevate decision-making across key areas such as audits, accounts payable, accounts receivable, ASC 842 lease accounting, and financial planning and analysis (FP&A). By integrating AI into these critical functions, Wasabi aims to achieve faster execution, eliminate human errors, and optimize operational workflows.

Amrita and her team actively engage in AI webinars to stay abreast of the latest advancements and best practices. They evaluate AI tools through comprehensive demos, ensuring that each potential implementation aligns seamlessly with their operational needs and enhances their capabilities. By recognizing the importance of collaboration and knowledge-sharing, they are leveraging their extensive network to connect with industry experts in the AI start-up ecosystem.

Wasabi Technologies has a proven track record of successfully implementing large-scale process changes. One notable example in their finance department is the overhaul of their lease accounting processes. The team devised a strategic approach to redefine how leases were managed within the expanding organization. By implementing advanced tools and methodologies to track and update lease schedules, the team reduced the month-end close process from fifteen days to a streamlined five-day operation. Wasabi’s top three goals reflect their commitment to operational excellence and innovation, simplifying and automating financial processes, leading AI integration in finance, and streamlining auditing procedures.

As a leader, Amrita approaches her role with a strong sense of ownership, meticulous planning, and execution. She prioritizes team building, communication, and transparency, fostering an environment where different viewpoints enrich decision-making and innovation processes. These principles guide Wasabi’s day-to-day operations and drive them to push boundaries in the finance and technology sectors continually. Amrita’s strategic priorities for the next three years focus on advancing AI integration in finance, driving operational excellence, and fostering a culture of continuous innovation.

In assessing the competition within the finance domain, Amrita takes a meticulous approach grounded in understanding industry dynamics and best practices. By closely examining how other companies handle financial operations, Wasabi gains valuable insights into efficiency, compliance, and technological integration. This analysis guides their ongoing efforts to implement advanced AI tools in finance, enhancing their ability to streamline processes and elevate decision-making.