Accounting and Financial services for corporates is not a new idea. However it is not the business idea but the execution that makes such a venture successful. Acelerar Technologies is a venture that provides services in Accounting and Finance consulting, their services can be customized and they employ a unique expert advisory. Also the fact that they serve countries other than India means that they have a strong multi-lingual support system. Founded by Anupam Rajey, Chakshoo Chhabra, Prabal P. Singh and Himanshu Chhabra Acelerar Technologies is the new twist in the financial services story. YourStory learnt from them just how different their concept is from other accounting service providers and how that crucial difference has brought them success.Describe Acelerar as a company and a business idea.
Acelerar Technologies provides customized, results oriented Accounting and Finance consulting services to corporates across US, Canada and EMEA region, helping clients with a unique expert advisory and process establishment services coupled with use of latest technology with multi-lingual support.
How does Acelerar improve upon other accounting service providers?
Acelerar assists its clients with their Financial & Accounting requirements by providing them industry best practices and subject matter expertise, helping them increase efficiency, business value and revenue. We provide economical solutions to our clients by establishing quality processes and use of latest technology helping them leverage business opportunities which were confined to market leaders only.
How did Acelerar go from business idea to reality? What does the name 'Acelerar' mean?
Taking a cue from success of my first venture and my experience coupled with my holistic research, I inferred there is a huge opportunity in the FAO(Finance and accounting outsourcing) space. I started translating my vision into a business plan, upon its completion and utilizing my network, I developed a team of like-minded individuals from different verticals, with an added booster shot of a VC funding of 1 million USD from the inception, Acelerar came into being. Acelerar is a spanish word which denotes ‘to Accelerate’; with our practices we help our clients accelerate their business and existing processes.
What are your job roles and backgrounds?Anupam Rajey, A Marketing & Sales Professional with over 7+ years of rich cross functional experience in a wide range of Industries encompassing IT, ITES, Accounting and Education services for International market. Chakshoo Chhabra, He helps companies Increase Sales, Brand Visibility, Build Corporate Image Online and Offline and helps develop better Relationships with Customers. Prabal P. Singh his focus is content based marketing that accentuate social media marketing, online public relations apart from helping companies setting up startup’s (IT & KPO), Review Business Models, Industry research, Budgeting & Forecasting, Competitor analysis & Sales Acceleration.
Himanshu Chhabra He also provides services for free to startups and helps them empower their online marketing campaigns. In the past, in his role, he has helped startups to increase web site traffic through social media marketing, networking and blog marketing.
Where do you see outsourced accounting services and Acelerar five years from now?
Recent trend and market reports by renowned agencies like NASSCOM exhibit KPO in its growth phase which is expected to reach $ 17 billion by 2010; we believe industry to expand and touch close to 25+ billion marks in the next five years. Acelerar would like to have a global presence, especially in the EMEA region with multilingual support and a complete financial services portfolio; the board expects the revenue to exceed more than 10+ million USD in next 5 years. Wish list includes moving towards becoming a public listed organization within 5 years.
What is Acelerar's present revenue model?
Acelerar provides FAO services to its clients in US, Canada and UK
As an entrepreneur, what are your joys? What are the challenges?
“An entrepreneur is a person who works 16 hours a day to avoid working 8 hours a day”- This quote pretty much sums up my attitude towards entrepreneurship. I feel pleased in shaping up an organization and overcoming the challenges associated with it. My challenges have been setting up departments and the processes from scratch, talent procurement, capital generation, networking etc.
What kind of talent makes up the Acelerar team? Are you looking at hiring?
Acelerar has 20 personnel on board, excluding 4 people in senior managerial position and 5 consultants representing us from different geographies helping us reach out to our clients and making our local presence felt. Acelerar has people coming in from different academic background from graduates (B.com) to CA’s and MBA’s to support our clients in vertical such as Media and advertising, Financial consulting, IT consulting , Travel and tourism and manufacturing. We are hiring 2-4 people on a monthly basis and looking forward to have a team size of 50 by year end.
Is growth a priority for Acelerar at the moment?
Acelerar have plans to start its NCR operations as early as mid of this year to cater to its client for strategic financial services and widening its Global presence with opening offices in US and UK early next year.
What services do your clients seek from you and where are they from?
Acelerar has 22+ clients from US, Canada and UK in different verticals ranging from s-corporations to multi-million USD corporations. Most of our clients are looking for bookkeeping, payroll and taxation services. Our major clients are from North America and Canada.