In your opinion, what is the future for the accounting profession?
The Accountancy and advisory profession has undergone significant changes in the last decade or so. This change will continue to be constant, and firms will have to continue to evolve in terms of skill sets and their basic thinking to stay relevant.
Having said that, I think that the need for our services will continue to grow, albeit in a different and non traditional direction.
What is your growth strategy?
Apart from organic growth in our existing business, we are focusing more and more on 2 key factors:
- New businesses - entering new niche business avenues in our existing geography - like Insolvency and GST, which are both relatively new laws in India
- Geographical - seeking opportunities outside of India, especially cross border opportunities
Where do you see your firm 5 years from now?
Our goal is to build on our existing foundation and grow into a well diversified professional services firm with a global reach.
In 5 years, we hope to be known across India for quality delivery, as well as being capable of delivering solutions to our clients anywhere in the world
What is your biggest challenge?
Our biggest challenge has always been, and will continue to be getting the right people. In our line of work, people are the biggest assets, but can also become the largest liabilities if not managed properly.
Attracting and retaining talent will define how well we are able to meet our goals and aspirations.
What percentage of your work is international?
As of now, maybe 5%
What business advisory services do you offer?
Our business advisory division offers the following services:
- Strategy and operations consulting
- Business Process Solutions including – Design and Development of Accounting, Costing and MIS systems; Business Process Re-engineering; Financial management and Outsourced Accounting
- Internal and Systems Audits
What was your main driver for being part of BOKS International?
One of our key goals has been to diversify our client base from mainly Indian clients into a more international one. BOKS is a new and exciting alliance that is the right fit for us at this stage in our growth.
Where do you see BOKS International 5 years from now?
We hope and expect to see BOKS grow globally while at the same time establishing itself as a brand that is know for quality delivery.
How would you describe your typical client?
Our clientele is diversified and includes small local businesses, to large listed corporations with global ambitions. Typical new clients that we target are small to mid sized companies, with ambitions to grow exponentially.
Tell us about a recent international assignment
We advised an Indian company in the minerals drilling space enter into a joint venture with a UK based company that was 3 times its size. We were the sole advisers in this cross border transaction.
How do you target clients who are looking for international services?
Like I mentioned, new clients that we target are typically companies with global ambitions. We try to get into them at early stages in their business life cycle (India has a vibrant start up scene), and grow our engagement with them as they grow.
Do you specialise in a particular sector or service?
We are 11 partners, and each has his/her own areas of specialization. As a firm, we specialize in Audit and Assurance; Business Advisory; Financial Advisory; Taxation and Risk Advisory for banks.