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Arthtech Consultants: Imbuing Innovation in Finance, Legal & HR Functions

Arthtech Consultants: Imbuing Innovation in Finance, Legal & HR Functions

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Shekhar Agharkar,Founder & Director

Shekhar Agharkar, Founder & Director

The industry's opinion of outsourcing has undergone a massive transformation over the years. As companies gear-up to face stiff competition pervading through the market and meet consumers’ ever-increasing expectations, outsourcing of non-core activities, and focusing on developing core competencies have become the norm. Geoffrey Moore, the celebrated American organizational theorist, management consultant and author, explains the core vs. context debate by saying, “Whatever is the new thing that creates differentiation, that is core. Meanwhile, context is any activity that doesn’t differentiate the company in the eyes of the customer. If we do (context) brilliantly, we don’t succeed. If we do it badly, we get in trouble”. Therefore, from ‘should we outsource?’ the question has now turned into, ‘What, How, and to Whom do we outsource?’ Coming to the fore as a rejoinder for the later question is, Arthtech Consultants Pvt. Ltd. (ACPL), a management consulting & outsourcing company specializing in the fields of finance & accounting, legal, secretarial, HR, and payroll.

"Holding expertise in business incubation, Shekhar has compiled a reference guide – Incubation at a Glance, which was released by the then Union Science Minister at Delhi in 2010"

Spearheaded by a trailblazer and industry game changer, Shekhar Agharkar, Founder & Director, ACPL, the firm has successfully been functioning as a single window solution provider both as an offsite and onsite model, for over 27 years. Having coined a unique methodology, Integrated Management Outsourcing Solutions or ‘IMOS’, Shekhar has been aiding a host of international & domestic clients managing their non-core yet equally important functions with elan. Defined as a basket of services in the management arena, IMOS is implemented by a cross-sectional team of experienced professionals with the required domain knowledge to cater to all industry segments as a single window solution. ACPL is also one of the pioneers in introducing Virtual CFO/Outsourced CFO way back in 1998 in India.

Infusing innovation in time-tested business strategies can only come from a vision, i.e., exactly what Shekhar is – a true visionary. A Chartered Accountant with a rich experience in the field of accounting and finance & management consulting, Shekhar’s ability to strategize and think differently has catapulted into the league of major players. Headquartered in Pune with operations across Mumbai, Bangalore, Hyderabad and Dubai, the ambitious firm is gearing towards creating a PAN India footprint with operations in major Tier-II & Tier-III cities in the next few years.

Keeping Businesses Afloat through Financial Functions
Finance is the fuel that keeps a business running. With a host of critical financial functions required to keep a business-up & running, not every organization possesses the resources to hire a CFO and a knowledgeable finance team. This is where ACPL steps in. A pioneer of the virtual CFO service, the firm provides strategic financial management, analysis and advice from an experienced CFO on an as-needed basis. The Virtual CFO helps clients understand business drivers, provides assistance in terms of financial analysis and wise counsel to help manage and grow
the business. Providing the service both onsite and offsite, Shekhar has aided various organizations by acting as their Virtual CFO. Recounting one such engagement, he narrates, “A leading foreign Pharma company had acquired two groups of companies in India; unfortunately the CFO resigned at an infortune time leaving behind various post-acquisition issues. There were multiple statutory defaults attracting huge fines & penalties and poor internal control systems”. Enlisting the services of ACPL, the firm’s financials were then successfully managed by Shekhar who brought the situation under control through his judicious advice.

"A pioneer of the virtual CFO service, ACPL provides strategic financial management, analysis and advice from an experienced CFO on an as-needed basis"

Additionally, the firm also renders finance & accounts management along with statutory compliances. The team of experts at ACPL specializes in handling accounts, internal audit, taxation (Direct & Indirect), and internal & external reporting/information system. Focused on helping clients stay compliant to laws and compliances such as FEMA (Foreign Exchange Management Act), Company Law, Goods & Services Tax, 100 percent EOU (Export Oriented Unit) compliances with STPI, among others and also provides constant support to the CEO.

Taking care of payroll management, team ACPL ensures seamless functioning of clients’ businesses. Right from creation & maintenance of database, monthly payroll processing & TDS computation, managing reimbursement/expense management to creating the full and final settlements, the firm takes care of it all. Taking care of statutory management, team ACPL ensures that clients are complaint in terms of IT, PF, PT & ESI Act and other applicable laws.

Legal & HR Consulting
Under the purview of IMOS, ACPL has also added legal & strategic consulting solutions. Although a non-core function, yet keeping-up with legal requirements has become a business necessity today. Armed with specialized legal expertise, ACPL undertakes reviewing, standardizing and drafting of existing routine contracts and documents, commercial contracts with regular suppliers, vendors & dealers. Not leaving out any legal requirement, the firm also takes care of service provider contracts, annual maintenance contracts, employee contracts, and agreements with key personnel. The team also ensures strictly drawn agreements with various consultants, non-disclosure agreement and confidentiality agreements.

Leveraging years of experience in handling various business functions and ensuring their growth, ACPL's team of experts help client's organizations with growth management, diversification, mergers & acquisitions, due diligence and project advisory. Having built a strong suite of services, Shekhar is working towards developing a holistic set of solutions, which includes HR consulting as well. “HR, legal and financial functions are synergistic, and thus I intend to render them all under one roof. Also the next five years will see outsourcing become the norm for finance, HR, purchase, manufacturing, marketing and inventory for most MSME,” says Shekhar. There are six major areas from an HR perspective where SME’s require support – recruitment and manpower planning, performance appraisal, compensation structuring, KRA definition, org structure, and employee startup kit. ACPL has an accomplished team to handle this as a one-time intervention and then the ongoing management through an outsourced solution.

Infusing Life in the SME Sector
While talking about a nation’s economy, we often lay emphasis on large organizations. However, in reality, the very backbone of any economy is the SME sector and
other family owned enterprises. Being the visionary that he is, Shekhar has always laid emphasis on aiding the SME sector. “The SME sector constitutes a majority of the business units in India and globally. Often, such businesses do not own the resources to have dedicated in-house teams to take care of finance, legal and HR needs. They fall back owing to various factors such as not having a well- defined chart of accounts, costing system, budgeting, internal controls, financial knowledge & management, and lack of professionalism," explains Shekhar.

In order to enable SMEs to focus on their business and help them manage their business processes in a systematic manner, ACPL conducts a free of cost ‘As is Analysis’. The analysis takes into account the current state of affairs, the business or manufacturing process, the vision of the owner and the present pain points. Based on the findings, the firm prepares a gap analysis report, as well as a roadmap which includes a one-time intervention.

Shekhar is now working towards developing a PAN India network of business associates (preferably CAs with more than 8-10 years of experience) spread across different cities. The pilot is being launched in Maharashtra & Goa project in the first phase of six months. The Enterprise Konnect platform is being developed to enable B2B & B2C free connect between enterprises.

Strengthening Startups & Family Owned Businesses
Family owned businesses, which form an integral part of our economy, are often averse to enlisting external service providers. However, undergoing a change in mind-set several entrepreneurs are getting over the taboo of seeking professional help for keeping a business afloat. Shekhar is now working towards building a cloud-based portal focused on handling succession planning for family owned businesses. Additionally, the innovative leader is also working on building a platform for aiding non-profit organizations with services such as registration, incorporation and project management.

ACPL is sensitive towards startups’ needs. Holding expertise in business incubation, Shekhar has compiled a reference guide – Incubation at a Glance, which was released by the then Union Science Minister at Delhi in 2010. Aiding in procuring funding, ACPL performs due diligence, checks project feasibility, structures mode of funding and performs post disbursement diligence as well. Additionally, Shekhar also mentors startups and aids in crystallizing project ideas by way of business plan, preparing project feasibility reports, structuring of the startup companies, and setting-up of financial systems procedures.

Having built a proven track record of working with various domestic clients, ACPL is now looking to expand its presence internationally. Fuelling the growth is Shekhar, a firm traveller on roads less travelled. Functioning on the belief that if one has the courage to do what it takes to pursue a dream, then sky is the limit; he is the epitome of persistence, sincerity and knowledge.

PANEL
KEY MANAGEMENT:
Shekhar Agharkar, Founder Director
The driving force behind ACPL, Shekhar is a CA with a rich experience in the field of accounting and finance & management consulting. Looking after Strategy, Business, PR, and Operations. He has been single handedly responsible for the firm’s glorious growth since inception.

COMPANY FOUNDED:
1998

OFFICE:
Pune (Headquarter)

OFFERINGS: Integrated Management (IMOS), Outsourced CFO, Projects, Business Incubation, and Offshore Accounting