CEO Insights Magazine

Most businesses around the world are using car rentals to cater to the requirement of daily movement of their employees. To provide an all-around solution in transportation services in Indonesia, PT. Mitra Pinasthika Mustika Rent company was started. It is one of the largest rental services in Indonesia and under the leadership of March Teguh Armadi, the company is providing personalized and customized top-of-the-line solutions that suits the business needs of various organization. The company is on a mission to be the customer's first choice by creating exceptional customer satisfaction and providing high-quality products, excellent service, and innovative solutions. March Teguh Armadi has completed his Bachelor of Economics in Accounting from the Atma Jaya Catholic University of Indonesia. He started his professional career as a Senior Auditor with KPMG and after that, he joined PWC latest as an Assistant Manager. After gaining over two decades of experience in various organizations' financial departments, March Teguh Armadi was appointed as the Chief Financial Officer at PT. Mitra Pinasthika Mustika Rent. He is a strong finance professional skilled in accounting and financial reporting, budgeting, financial planning and analysis, cost control, tax compliance and planning, credit control, commercial finance, Treasury, IT management, and internal audit. His knowledge and hard work have brought various laurels to the organizations he has worked with. March Teguh Armadi engages in an exclusive interaction with CEO Insights, let’s read.

Tell us about your leadership approach and what has been your success mantra.

My leadership approach is being focused and at the a straightforward kind of person in my approach, also thorough and logical. Being engaged, open, and transparent is also very important. Therefore, I keep myself very accessible to respond to my team well on time. Also, to achieve more significant goals, delegation is one of the key factors and to have a successful delegation, investing in your team, putting the right person in the right jobs, mutual trust, and open two-way communication is very essential. Leading the team by example and becoming a good role model for my team is also very important for me as a leader. I am a hard-working and persistent person and my success mantra is maintaining those traits while also being open to new things.

Define PT. Mitra Pinasthika Mustika Rent as an organization and its position in the market.

PT. Mitra Pinasthika Mustika (MPM) Rent is one of the largest rental service companies in Indonesia and it is an all-around solution provider when it comes to transportation services. Our business ecosystem includes vehicle rental service to B2B customers, professional driver services and the sales of pre-owned cars through auctions. In the past several years, MPM Rent has been heavily focusing on improving our operational excellence with the aim to improve our customer satisfaction and to be engaged more in our customer journey. Also, to expand our market size, we have been exploring targeting the B2C customer segment while maintaining growth in the B2B segment.

What are the factors you take into account when determining the profitability of an investment?

I propose the investment to maximize the returns by allocating the right financial resource to the right opportunity by considering two important parameters which are risks and returns. In our company, the common metric is used to measure profitability by IRR (Internal Rate of Return). While investing, I consider the investment should not be focused just on the short-term view of profitability but long-term view as well as there must be some strategic thinking behind it.

How do you foster a learning culture in your team? How do you guide them to draw valuable insights to help maintain the financial health of the company amid market fluctuations?

My way to foster a learning culture is to continuously inspire my team to initiate change and encourage them to spot areas for improvement. To ensure the continuous learning of my team, I have laid down four processes that are to find the time for them, to emphasize action, to make a plan with them, and to propel careers. This will help our employees to develop skills that they would need to move beyond their current roles. Currently, we are living in the VUCA (Volatility, Uncertainty, Complexity, Ambiguity) world with changing business landscape including conflict of countries, supply disruption and scarcity and the emergence of AI. To remain relevant and updated, continuous learning is the only way to align ourselves with the changing dynamics of the world. Also, by engaging them in business discussions where key financial parameters like revenue and profitability are endorsed to measure the profitability of the financial impact of the organization, we can keep our employees abreast with the latest trend.

Where do you see yourself headed in the upcoming years? What would be your advice to budding leaders in the financial role?

I am always open to learning new things and currently, I am focused on growing MPM Rent in a more sustainable way. Also, as the dynamics of business are changing, we are currently engaged in enhancing the standard of the company with initiatives such as digital invoicing, CRM, technology, and online auction. We're also continuously exploring new rental and transportation solutions with the support of technology. My advice for the upcoming financial leaders is to stay digitally savvy, leading with commercial excellence, mastering change, and translating financial data into strategies while influencing strategic decision-makers.

March Teguh Armadi, CFO, PT. Mitra Pinasthika Mustika Rent

Having a proven track record of working in a diverse array of organization, March Teguh Armadi have been able to acquire spare expertise on multiple industry verticals, which has helped him to become a successful CFO.

Hobbies: Learning about new technologies, Sports, and Watching Movies

Favorite Cuisine: Indonesian, Japanese, Indian, and Italian

Favorite Book: Rich Dad and Poor Dad

Favorite Travel Destination: Bali and Australia