RRACA Consultancy Private Limited is an offshoot of the audit firm R Rajan Associates, Chartered Accountants and was floated by its Partners. R Rajan Associates, Chartered Accountants (RRACA) has been established in the year of 1981 in Coimbatore. The team was built slowly and gradually which at present is a family of professionals and is carrying a legacy of more than 40 years. The firm takes pride in providing three decades of professional services. The combined experience of our partners is above 150 years. The Firm currently has 5 branches, one each at Coimbatore, Thrissur, Kochi, Bangalore and Pondicherry. We are sector agnostic and provide our services to various companies/firms/business houses across our five branches. At RRACA, we endure to deliver value to our clients through reliable and efficient professional aptitude in a time bound manner. We thrive for achieving highest professional standards and quality.
RRACA Consultancy Private Limited, was formed with the aim to further enhance the firm’s service offerings in the areas of value added services such as specialized audits, valuation, business setup support services and Outsourcing with special focus on global service delivery. We aim at being a guide and mentor for those looking at South India as their desired investment destination.
Our Member Spotlight is a Q&A with our member which covers some of the key issues in their sector, and gives an a greater insight into the firm and their operations.
Technological advancements have changed the way of doing business. Business processes has changed and so should be the audit processes to check these. Technology has both simplified and made complex the audit procedures.Advent of artificial intelligence will be bringing in new methods, techniques, practices etc. Consulting profession has also undergone changes as per the new needs of business class. We believe that one should embrace the new technology and thrive to render the services as per the need of the hour thereby ensuring growth to ourselves and our stakeholders.
We are planning to increase our presence in South India by opening new office as necessary. South India comprises of states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh and Telengana& Union Territories of Andaman & Nicobar, Lakshadweep and Pondicherry. Out of the 5 states, we already have major presence in 3 States. The South Indian market is still growing and the Policies of Government of India like “Make In India”, “AtmaNirbhar Bharat” etc. have boosted the rate of growth. By establishing a strong foothold in South India can, we believe that we would be able to tap the opportunities in this segment. Since more foreign Corporates are expected setting up their manufacturing and business facilities in India as part of Make In India Campaign, our strategy will also include tapping this opportunity.
We Also plan into tap into the growing knowledge based outsourcing or KPO and expect it to substantially increase our presence in the accounting space. With the COVID-19 pandemic, most organisations are now open to working from remote locations and with the cost advantage of having work done from locations such as South India, we expect a substantial growth in this area.
We look forward eagerly with our partnership with BOKS International. We believe that, being a part of BOKS International would help us achieve our growth strategy by overtaking the competition. In the next 5 years, we would be targeting to be one of the Top Consulting Firms in South India and positioning ourselves with higher access to knowledge and technology to offer highest client satisfaction.
South India is emerging as a hub for outsourcing hub for accounting and finance, which is an area we have turned our focus on and we believe that in the next 5 years atleast 30% of our revenue will start flowing from this segment.
India’s regulatory, taxation and legal system is ever evolving and yet to be robust. Keeping abreast of these legal, regulatory and taxation laws will pause a challenge to anyone dealing with Indian economy. We would invest in best human resource, better research & knowledge repositories and technology to tackle this challenge. Further, the Five South Indian States use five different local languages might come as challenge. Since we are already having presence in 60% of these states and have our locally placed resources there, we believe that we are better placed than our competitors in this aspect.
Our clientele includes both Indian and Foreign clients. Ours is boutique firm and we offer following services in following areas in India scenario:
1. Audit and Assurance
2. Tax planning and compliance
3. Regulatory matters
4. Business Valuations
5. Knowledge Process Outsourcing
6. Accounting and Bookkeeping
7. Company Secretarial Matters
8. Due Diligences and Internal Control Audits
9. Investment Advisory and compliance
10. Legal Matters and vetting
11. Management Consultancy
12. Financial Modelling and planning
We believe that we could increase our service quality, professionalism by being a part of BOKS International. Working with foreign clients will be driving us to deliver better service quality and to ensure customer satisfaction. Further, our share from foreign clients is only 5%-15% right now. Being a part of BOKS International, we believe that we would be having better access to foreign markets and referrals and thereby increasing the share of revenue.
We also believe that we are at the right location for adding value to all BOKS international member firms by being a delivery center for professional work outsourcing.
We appreciate the high standards applied by BOKS International's management in it’s operations. This would translate to solid growth of BOKS International in previous years. Before we joined the BOKS International, it had presence only in Northern Part of India. Our joining has resulted in Southern India to be also under the network. Likewise, in the future, we are confident that this strong growth will be continuing and it will lead to presence in several new countries and locations and becoming a well recognized global network.
Our typical clientele is mostly from the SME Sector. They include Services, Trading activities as well as manufacturing. We also have enterprises in financial services sector under our clientele. Our clients include family run concerns, start-ups, business houses and listed entities.
We recently advised a US Company on setting up its Indian Operation and establishing a Captive Unit here in India. We were part of the end-to-end advisory and implementation of the assignment. It involved liaison with various Government Bodies, assistance with obtaining necessary registrations and approvals, making required filings, providing advise on tax and regulatory matters in India etc. Since, we were involved right from advisory to implementation of the plan, we tailormade the plan of actions as per the client’s need and implemented it flawlessly.
We actively and closely work with all our clients on regular basis. Hence, we would be knowing if any such requirement arises to our clients. Further, our existing clients also do refer our profile to their acquaintances who are in need of the international services. Once we are aware that a requirement has come, we will analyse the requirement and try to deliver it, whether by our firm or by the other member firms of BOKS International depending on the nature of the assignment.
We are a sector-agnostic firm. Each of our partners’ is specialised in different areas and they prepared and mentored their team as well. Our services offering includes Taxation, Assurance, Regulary matters, Mergers & Acquisitions, Funding related matters etc. Further, we extensively work with Start-ups in India.