Setup Services India: High Quality Virtual Cfo Services To Indian SMES & Startups
Co-founded by Nishant Arora, Rajneesh Wadhwa, Avneet Singh, and Rishi Puri in 2020, Setup Service India is a Delhi based leading Finance Advisory firm. The firm was started to provide financial services to SMEs as well as to firms in remote areas as a one stop financial services solution provider and is a part of the parent company, Sixth Element Finserv. The firm has a vast professional network and also has an accomplished inhouse team of CA/CS to ensure the efficiency and effectiveness of the services being delivered. The company helps both foreign and Indian companies in the identification of strategic advantages and incentive schemes in the Indian commercial ecosystem before incorporating their businesses.
Through The Virtual Cfo Service, Setup Service India Is Focused On Taking The Payroll Of A Cfo To The Masses By Increasing Affordability
A Vast Range Of Financial Services For The Masses:
Coming to the service portfolio, except auditing and Insurance related services, Setup Services India provides a vast range of financial services to its clients as a one-stop solutions provider. The firm has both inhouse CAs as well as aggregated partners all over India and is providing incorporation services to its clients both in India as well as in 30 other countries across the world. The firm collaborates with many reputed consultants across the country while taking them to a single bridge and managing quality control. The firm has very unique packages for SMEs and startups and provides all kinds of end-to-end compliances as well as management services turned into a per transaction model. As part of the services, the firm provides all kinds of financial and compliance based services, such as business setup, compliance management, accounting, bookkeeping, equity raise, corporate restructuring, debt restructuring, legal drafting, trademark registration, and so on.
Affordable Virtual CFO services for SMEs and Startups:
Currently, the firm has also started providing affordable highquality Virtual CFO services to its clients. As a differentiator in the market, Setup Services India provides two kinds of virtual solutions, such as virtual CFO services and virtual payroll management services, through which the firm has been trying to support SMEs and growing startups in India. Through virtual CFO services, the firm is trying to promote the process of financial independence and awareness while helping firms at the base level. The firm is trying to promote CRM in financial services, where operations such as customer support, resource management, document handling, and provision are being handled by a separate team in an enterprise, which, in return, enables the technical provisioning functionality to operate efficiently.
Through the virtual CFO Service, the firm is focused on taking the payroll of a CFO to the masses by increasing affordability. A virtual CFO can be designated to five companies, which also makes the CFO Service affordable with the overall cost getting divided. The firm is also planning to provide subscription-based highly costeffective virtual CFO services to startups. "We are currently targeting smaller and medium enterprises. New startups can't afford to keep a CFO with 12 or 15 years of experience and pay them five lakh rupees a month, which can be extremely tough for them. Whereas, in the case of virtual CFO Service, the cost gets lowered to fractions, yet, the delivery is very high” adds Nishant.
The Core Management Team:
Coming to the core management, the core team of the firm comprises Nishant Arora, Rajneesh Wadhwa, Avneet Singh, and Rishi Puri. Nishant has an overall professional experience of ten years in Finance. The firm has been his brain child and was founded to ease doing business in India. Along with the CFO services, he also takes care of the financial strategies and caters to a total of eight to nine industries. He has done his Bachelor's degree from the University of Delhi and has pursued both CA and ACCA. Avneet drives the Startup strategy consulting services at SSI by improvising the logic, operations, and supply chain of the client firms. Coming from a non-industrial background, he built a successful beer brand within a year with an annual turnover of around 150 cr.
Coming to Rajneesh, he caters to services, such as turnaround services, corporate restructuring, debt restructuring, and mergers & acquisitions. Rishi is an expert in both startup and supply chain. He has been the driving force behind the firm's expertise in MIS, supply chain models, efficiencies, growth charts, and so on. Other than the four directors, Setup Services India also has several chartered accountants, company secretaries, secretarial firms, chartered accountant firms, registered valuers, merchant bankers, property valuers, and around five attorneys working for the firm. While the employee strength of the firm is below 50, the number touches around 250 after including all the aggregated partners across the country. The firm is also working with many Supreme Court and High Court based advocates as well as Litigation, turnaround experts, and NCLT liquidation experts.
Accomplishments and Future Roadmaps:
Starting in 2022, Setup Services India has been experiencing rapid growth over time with its website visits being on a week wise growth trend of 20% and service inquiries being on a monthly wise growth rate of 35%. The firm has been able to have at least one blue chip company for services in a quarter. The firm has already registered more than 180 brands till now and is registering a new startup every five days. The firm has been providing its vast range of services to many reputed clients, such as Airtel, IIFL, Edelweiss Group, many distillery based companies, and much more. Coming to future roadmaps, Setup Services India is planning to go global and have aggregated partners across the world.
The firm is working on providing virtual CFO services to its foreign based clients while trying to develop a KPO culture in India. The firm is also communicating with a lot of firms across the world to get their key processes outsourced to Setup Service India. "Post Covid, people went into the hybrid model. The necessity of physical presence is no more required. People, nowadays, feel more comfortable having detailed conversations virtually. So it has become very easier for us to convince, acknowledge and reach to people who are actually in need and are looking for partners who can provide services at good discipline, effectiveness, efficiency while being very cost-effective”, adds Nishant.