ZIVADIT LLP

In their own words

EXECUTIVE SUMMARY Preamble In today’s highly competitive business environment, companies are balancing costs versus benefits in every key decision. Organizations are looking at ways to reduce the costs and be competitive in the market. Decision makers have realized that keeping all operational functions of the company in house may not be feasible anymore. That has given rise to business functions being outsourced at a much higher rate than in the past. Outsourcing to third parties a in low cost, high skilled country adds significant value to the organization. Depending on organization’s need and information being handled, levels of outsourcing can be value add. For example, sending HR, especially payroll and benefits function, and accounting could be beneficial. Financial services companies like Black Rock, Morgan Stanley, EisnerAmper, E&Y, KPMG, PWC etc. have their own operations, whereas manufacturing companies like GE etc. work with third parties. Outsourcing is now a mature and intrinsic part of business strategy for most large US businesses. Small medium businesses (SMB) particularly real estate companies too have recognized the need of accounting outsourcing and are now increasingly adopting outsourcing as a powerful business strategy. According to an independent survey accounting outsourcing by small medium businesses (SMB) have gained significant traction in last ten years. Businesses without the resources or infrastructure to manage the accounting, bookkeeping and HR functions internally often look to outsourcing service providers for that expertise. Outsourcing is also attractive to larger companies due to cost savings, greater flexibility in staffing, faster turnaround due to time-zone differences, among other benefits. Increasingly, companies are also going for hybrid custom solutions that involve both in-house and outsourced staff. Why outsource Outsourcing is not just a cost savings exercise. There are many other benefits listed below. In addition, the ready availability of economically priced technological tools has made outsourcing easier than a few years earlier. Vision and future FLEXIBILITY AND SCALABILITY Have flexible staffing levels as dictated by business conditions. An added advantage is the time difference. The complimentary time difference between India and US (India works when US sleeps and vice-versa) increases the productive time available for a US office. Work gets done overnight and finished work output is available for US office when their day begins. This gives more flexibility as there can be quicker turn arounds of special projects. Lower costs helps scale staffing as the business grows. CONTROL Organization has ability to hire more qualified people who can focus on specific tasks. This results in better output as people get specialized in few areas rather than being generalists. This also gives ability for organization to compartmentalize functions, which preserves confidentiality of operations. Add-on benefit Outsourcing also leads to documentation and standardization of existing business processes such as month-end closing, payroll reconciliations, payables, reporting, internal auditing, and support among others. Technology Technology has transformed the way that accounting firms do business. The evolution of cloud- based computing, the growth of mobile, and advances in intelligent data management mean that firms have a new set of tools available that can automate and streamline tasks. These tools have also streamlined work-flows, facilitated document management and also enabled shared working on the file. For instance, in month end closing process, the outsourced team and the US based controllers/senior staff share files and work jointly and share using office 365/one drive. Payroll and accounting softwares are all cloud based and can be accessed from anywhere in the world. Moreover, security feature allows US based operations to control information access and flow. Security is the most important concern that all companies have. Today we have adequate safeguards available to secure the technology workspace and access to sensitive information like naming accounts etc. Firm profile FOUNDERS Manan Shukla – CFO and Financial advisor having deep knowledge about investment, acquisition and disposition of over $4 Billion worth of assets across US for GMF Capital and holds MBA degree Jalev Soni – An Entrepreneur, Financial advisor, holds MBA degree from MIT, India. Jalev has worked for multiple REIT’s based out of NYC and is currently involved in Retail, Real Estate, IT Services and has a vast and deep knowledge about these industries.

Written by the company on its public Startup India profile. Not verified by us.