Building operations centre for a US LPO
A legal process outsourcing company, Loxodrome, based in San Francisco, USA, wanted to enter the knowledge process outsourcing industry in India. Loxodrome’s goal was clear, they wanted the ‘process’ situated in India, and the ‘sale’ of the product in the US. Founded and invested in by industry veterans and successful entrepreneurs, they were presented with a number of options with which to enter the Indian market. However, Dileep Nath (Founder of Canbay and a serial investor) who had previously observed Remunance’s work in building delivery centres for foreign companies, recommended Remunance. After taking the founders through the various bespoke services offered by indcubate, the idea of the wheels turning even before the formation of the India subsidiary caught the eye of Loxodrome’s founders.
Remunance put in motion their experience of mapping the process, converting and receiving approval on the defined process, the creation of training manuals, and activating local contacts to scout for the right resources to get Loxodrome’s India subsidiary on the rails. But, supporting the US-based team efficiently in the discovery process, a key facet in a law firm’s operations, proved to be a minor stumbling block. The Remunance team surmounted this hurdle by identifying 25 lawyers who were integrated into the team and equipped with the necessary infrastructure for them to be productive.
Building a subsidiary from the bottom up was a fascinating experience and what made it even more special was to hear Dileep Nath say, “Setting up a new operation in a new geography is a complex task. You need your partner on the ground to be on top of his operational game, need local knowledge, and a global vision. Remunance ticked all those boxes, helping us set up our India operations without a hitch. We are extremely happy with our decision.”
The trust our customer has in us
Working consistently over a number of years with a repeat customer is one of the most satisfying things. It signifies that the customer has complete trust in the culture of the organisation that he is working with and that trust is constantly reinforced. Sudhir Menon, the founder of Snappy Data (now TIBCO Software Inc.) first got in touch with Remunance to incorporate its subsidiary in India and to avail of support services in order for his Company to focus on its core tasks. Sudhir Menon’s had prior experience working with the Remunance team and we were his first port of call when Snappy wanted to enter the Indian market.
Having understood Snappy’s objectives in India, Remunance rolled out a full array of back-office services which included bookkeeping, accounting, audit support, payroll management, and full compliance. This allowed Snappy to focus on its core technology task without diverting time and resources in setting up a back-office framework. The Remunance team took the lead in building a char of accounts, norms for exchange of information, reporting protocols, all details related to compliance, and selection of bankers. Having established transparent, clear, and swift lines of communications between Snappy and Remunance, Snappy’s tasks were always on schedule. Testament to the stoutness of the framework that Remunance built for Snappy was on full display when Snappy was acquired and the authorities tasked with due diligence cleared all the regulatory paperwork in the first attempt.
Sudhir Menon said the reliability of Remunance, and the solid partnership they stuck up was key to Snappy’s success in India’s market. “I have worked with Remunance for 14 years and Rajendra’s team (Remunance) have helped me launch two start-ups and till date have kept our compliances in order. This sterling work has helped us keep growing and given us a certain peace of mind. I can’t thank him enough,” said Menon.
Being eye-and-ears on the ground
Gemstone Systems Inc. a Portland, USA based company wanted to kick-off its India operations by engaging a service provider to support its product development efforts. GemFire, the product was an in-memory database. The tacit knowledge compiled by their team was extremely important and it was critical that an effective transfer of this team to India was required for the success of the product’s development.
Remunance stepped in to the devise a plan and facilitate a smooth transfer. All through the process, the Gemstone Systems team, including CFO Steve Bean and Sudhir Menon, Director of Engineering, were kept in the loop and provided comprehensive updates. Having a well-thought out plan was essential to the transfer and the Remunance team executed it meticulously. All the team members moved without a hitch to the newly formed subsidiary in India. With Gemstone Systems directing operations from their base in Portland, Remunance stepped in to take care of all issues arising at ground zero in India. Serving as local directors, Remunance managed the entire project successfully before the team moved on to VMWare after an acquisition process.
Remunance managed Gemstone’s India subsidiary’s back-office facilities, accounts, bookkeeping, audit and compliance management. Remunance and Rajendra Vaidya’s ability to stay calm under pressure, strong analytical skills, an in-depth understanding of India’s market, and a widespread network came in for glowing praise from Gemstone Systems’ Sudhir Menon. “Rajendra and the team at Remunance really helped us pull through a lot of tough situations when we were launching our India business. The team’s fiscal prudence helped us immensely. Their ability to plan things, negotiate the right arrangements, entice the correct talent, were instrumental in our success. Rajendra (Vaidya) was an excellent sounding board, had a keen eye for what worked and what didn’t work in the Indian scenario, and he really helped us iron out the chinks in our India journey. I would definitely work again with Remunance,” said Menon.
True to his words, Sudhir Menon enlisted Remunance’s services again when he brought his own venture, Snappy Data to India.
Experimenting and learning -Our first project
Alok Batra, founder CXO Inc. (Now CISCO) had a great product idea to have configurable dashboard for CxOs of companies from different enterprise applications used by corporations. The Company wanted to keep its burn rate low and thus decided for major development out of India.
Abhay Patil, the operations head of CXO Inc. had returned to India and needed support in company formation and the creation of a sustainable back-office to aid operations. He got in touch with Remunance and this was Remunance’s first business incubation project. Remunance was confident of connecting CXO Inc. with the right authorities in the ecosystem and helping the CXO Inc. set up a strong base in India. Back in 2004, a foreign subsidiary with 100 percent export had to be excise bounded. A number of tax and bonded office infrastructure compliances made operations cumbersome and difficult to manage. With the start-up ecosystem still gaining in popularity, attracting the right talent was a challenge as well.
Remunance proposed that Abhay Patil and the immediate CXO Inc. India team operate out of Remunance’s office for closer coordination. After successfully incorporating the subsidiary, talent acquisition was the most pressing concern with the key position of Technical Head to be filled. Through Remunance’s extensive network, a suitable resources was identified and hired.
CXO Inc. was later acquired by CISCO and Abhay Patil was effusive in his praise for Remunance’s efforts. “An India strategy is absolutely necessary for a start-up like ours. Remunance’s custom-made business incubation solution, indcubate, and their wide network was our biggest ally and strength,” he said.
Helping first time entrepreneurs from process design to execution
This is a story of early years of Remunance success journey. When we were formulating the business incubation offering India was seeing the change in its outsourcing landscape. Success of software outsourcing was followed by ‘Business and Knowledge Process Outsourcing’ (BPO/KPO) boom in India. Many voice and non-voice processes successfully moved to India. Seeing the business benefits of outsourcing to India, more value added services were scanned for possible outsourcing to knowledge workers of India.
This is perhaps the story of Remunance’s birth and its early years. In line with the change in the outsourcing landscape in India, the movement of many BPOs and KPOs to India, we at Remunance hit upon the creation of our business incubation offering. The biggest observation that the Remunance team made was that foreign entrepreneurs wanted better control over their India operations and favoured the creation of subsidiaries. Two young software professionals from the Bay Area who dealt with the American architectural business with the possibility of offering a KPO model through a subsidiary based in India. However, both entrepreneurs had no knowledge of the prevailing market conditions in India and they way to go about setting up a subsidiary. On the lookout for a partner who could build, operate, and then ultimately transfer the fully-operational subsidiary, they got in touch with Remunance.
Excelize, the company owned by the two entrepreneurs, struck up a partnership with Remunance. The team at Remunance attended tradeshows with the Excelize team, sat in on business meetings, and built up a comprehensive understanding of the business. Remunance then helped Excelize build a robust network of talent in India, staffing the subsidiary with the right architects and draughtsmen. Both team, Excelize and Remunance, worked very closely for a year, helping the subsidiary gain strength and traction. Ashfaq Rasheed, the COO of Excelize said Remunance’s presence, its highly adaptive and responsive nature made it an excellent partner. “Rajendra and the team at Remunance are excellent professionals who understand the basics of building a successful business very well. Their foresight and experience is an asset to any company who wants to enter and succeed in India,” said Rasheed.
Successful incubation for a company with exasperating experience
Adaptive Insights (now WORKDAY) had outsourced its development work to a large software development company in India. Adaptive was not happy with the constantly changing resources from their work by the vendor. Adaptive decided to form its own entity in India and continue the work but the wrong advice on type of company and the procedure to form a company, the incorporation took lot of time and landed up creating a wrong type of company. Adaptive management was exasperated with the experience they have had with the formation efforts but were confident of quality of resources they can hire they continued the efforts to search a better alternative.
Adaptive Insights (now WORKDAY) did not have the best of entries into the Indian market. Having outsourced its development tasks to a large software development concern in India, Adaptive Insights was unhappy with the constantly changing nature of the resources working on the project. Adaptive Insights decided to take matters into its own hands and to form an entity in India. But, having gotten the wrong advice on type and procedure behind forming the entity, ended up incorporating an incorrect form of entity.
Remunance stepped in, presented the indcubate offering to the founder and CEO of Adaptive Insights, Mr. Rob Hull. After a series of exhaustive discussions, which led to locking down of the exact path of action, the partnership kicked off and hasn’t looked back since. Adaptive Insights used indcubate’s offerings for a 11 years, right from when it was a start-up till it grew into a large corporation before being finally acquired by Workday.
Richard Muirhead, Director of Development at Adaptive Insights, said that the Company’s dependence Remunance had paid off richly. “We are extremely satisfied with the experience. Remunance stepped in and helped us manage our India development centre in a very organised manner. Right from matters of talent acquisition to tax compliances, identifying the right office space, Remunance does it all. We appreciate Remunance’s flexibility and also their nuanced insights which helped us grow our footprint in India and also strengthened our relationship,” said Muirhead.
Soft launching a director from the head office to India
Loylogic Inc., the world’s leading loyalty programmes company, headquartered in Zurich, Switzerland, had outsourced its platform development functions India and successfully wanted to take the next step. Loylogic Inc. had a senior employee who was ready to relocate to India and needed a smooth, secured platform from which to launch the Indian operations. Remunance stepped in to create a well-rounded support structure, registered Loylogic Inc.’s India subsidiary with the relevant authorities and scouted locations for a well-equipped office close to the Company’s outsourcing vendor.
Remunance’s prior work with Gemstone Systems came in handy and allowed it to exactly understand the scope of work. The timeline provided to Remunance by Loylogic Inc. was tight with the Company’s Swiss office already having an inauguration date in mind. Remunance worked backwards, efficiently creating a calendar with important milestones clearly demarcated and executed the project as per the promised timeline.
Piyush Khandelwal, Director at Loylogic Inc. who took over the India operations with a full team in the suitably equipped office was extremely pleased with Remunance’s clinical execution. He said that the Remunance team had mapped Loylogic Inc.’s requirements precisely, knew the market very well, and managed to deploy the right contacts to secure the correct resources which would help the Loylogic Inc. India operations to get off to a rapid start. “All our compliance and procedural requirements were met. Post incubation, Remunance’s services in back-office management were exceptional. The team is thoroughly professional, they provided systematic updates, and stuck to the plan that they had presented right at the outset. This allowed us to concentrate on our core technology tasks and eliminated any administrative hassles,” said Khandelwal.
Incubation to Incorporation for a RTOS Company
Waltham, USA based RTOS-Platform company IntervalZero was eyeing an opportunity of having business operations in India. They were on the lookout for a reliable and experienced local partner to make it right in attempt. After screening through outsourcing vendors and consultants, they found Remunance.
In the first call itself, Brian (CTO) shared his concerns with Remunance very transparently. He with Mark (CFO) told that finding right resources is the acid test that Remunance has to pass before IntervalZero could think of engaging with us. Brian made it clear that they are un such a nitch , as both were finding it difficult to hire even in the US. Initially we were also not sure as to where to find individuals who would have had experience of developing operating system and that too -windows based RTOS. So knowing the fact that we are not going to get the exact fit, we worked out a strategy to locate resources with potential, train them on job to make them productive. We worked very carefully on shortlisting criteria’s, Involved customer in selection procedure and course corrected as we built the core team.
The operations achieved every milestone that was set out. After two years of successful indcubate services of team building and business incubation, Jeff (CEO) took a decisive step to form a subsidiary in India using INDcorporate services of Remunance. A unique separate office infrastructure was built. Remunance continues to make yet another foreign company successful in India.
IntervalZero availed all the services from basket of services that Remunance offers. And when we hear Jeff say, “Competing in the global economy takes very careful execution as any company introduces products into and builds a team in new economies. Whether expanding into India or China or any country, having a trustworthy partner in-country like Rajendra at Remunance in India to guide your expansion efforts eliminates enormous risk and raises chances for success. Well done!”, we all at Remunance feel very proud and at the same time make us humble.
Formality – PEO
Formality Pty from Australia had three contractors working for them from India. This team was losing on lot of productive time working on the logistical issues, managing expense reimbursements and individual compliances. Craig Wallace (CEO) was exasperated looking for a partner in India who could provide some solution. He found Remunance over the net after 6 months of search and trials.
After understanding the problem, Remunance offered PEO (Professional Employer Organization) solution with few additional services of hosting. All problems got sorted for the employees and importantly for CFO of Formaliti. That is when Craig wrote, “Raj and his team were nothing short of a God send for us in liaising with our team and us, providing advice and the best course of action to allow us to operate efficiently and within the law and to the benefit of our employees.” Formaliti Pty. ltd. is the 21st foreign company that we helped realise its India Dream.
With established outsourcing model and proven talent pool in India, many foreign companies aim to have more significant and controlling presence in India. In doing so, they have very basic unstated expectations. More basic than the infrastructure and simplified regulations. Companies want to deal with transparent, reliable and committed people -At Remunance that's exactly is our foundation. All our services under the brand indcubate are inspired by this ethos.
So for Remunance team it was very assuring when Craig went on to write, “I would welcome any questions regarding working with Raj and his team and cannot recommend them highly enough in negotiating the difficult employment terrain and helping us and our team to feel supported and compliant working between Australia and India.”