Sixth Element Finserv’s Setup Services India (SSI) aims to develop a one-stop financial services solution for the next-gen entrepreneurs; it aims to facilitate business registration, compliance(s) management and advisory processes to be robust, transparent and cost-effective.
Headquartered in New Delhi, SSI has a profound professional network and in-house team of CAs, CSs, MBAs to ensure the efficiency and effectiveness of the services being delivered. The company says that the goal is to become an extensive KPO in the B2B arena and provide solutions to the new India. Talking about Pune’s scope of giving India new startups, Nishant Arora, founder, Setup Services India (SSI), said, “Pune is among the cities with largest youth population; the rapid urbanization has led to an influx of youths in the city, and 73 per cent of its total population is below 50 years of age. Therefore, we can easily say that Pune has an edge in the probability to give India the next-gen startups and making unicorns.
Pune has consistently ranked among the top-5 cities in software & IT startups. The 2000s saw many new startups in the software services and products space. The company says that it wants to strengthen the startup network in India by easing out the business processes.
Explaining the company’s role in the startup ecosystem in the city, Arora, said, “We provide end-to-end financial services to the startups looking for a head start in the Indian startup ecosystem. From incorporation to regulatory registrations like GST, MSME, IEC, we do it all. Post incorporation, we extend a plethora of services that can take care of compliances management, internal MIS development, project report preparation, agreements drafting and startup pitch deck preparation too.”
“In today’s time where consultants suggest startups to use online tools to streamline their day-to-day finances & compliance management, SSI is trying to shift the paradigm and promote the KPO culture in India so that they can outsource key financial and technical activities to agencies like SSI. It will help founders/ entrepreneurs focus on their core business activities and grow // instead of being tied up in managing their financial processes and wasting time on something that can be outsourced and managed with ease,” he adds.
SSI is all about next-gen startups’ requirements, i.e providing quality services under one roof to guarantee efficiency and effectiveness in an easy process. “Coming from a vast experience and handling an array of industries, the promoters, experts and counsel of consultants at SSI help new startups adapt the working flows, SOPs’, knowledge base & know-how enjoyed till date by only leading corporations which eventually pay like maybe 7 -10 figure pay packages to their CFOs,” he said.
The company says that it is trying to replace accounts dept and not the CA; SSI is introducing CRM in financial services so that startups feel secure while being associated with a consulting firm. The experts at SSI are pushing and promoting use of targeted MIS, reporting mechanisms & data analytics to help the entrepreneurs get the best info out of their day-to-day activities.
On the usability of future-oriented KPO culture in finance in a labour-intensive country like India, Arora said, “Corporate employee count of Uber India is in double digits, which should appeal the entrepreneurs on how such a small number of employees can manage big shows; this is possible if a company is effectively automated and outsource the activities that do not concern its day-to-day business.”
On the extent to which outsourcing of financial/ technical activities can be done in a company, Arora said, “Some large corporations in India have even outsourced their payment management systems where service providers manage the banking of clients and remit payments approved as per the set SOPs’. But, this info doesn’t come to the knowledge of the masses. SSI is trying to bring in the KPO culture so that India can be labour as well as technologically intensive at the same time.