What makes an outsourcing company like FinacPlus Global Services Pvt Ltd the fastest growing one?
Let’s find out.
When it was incorporated by Prabhakar Rao Kotapati, the Co-founder and Chief Executive Officer and Sravan Kumar Pamidimalla, the Co-founder and Chief Financial Officer, for them securing their first client in the US Mortgage Private Lending industry was no small feat.
It took them eight months of dedicated effort to earn the client’s trust. Initially, the client entrusted FinacPlus with just two workstations. Prabhakar says, “We approached this opportunity with unwavering focus and commitment, treating their business with the utmost care and attention.” This dedication quickly paid off.
Within two months, the client was so impressed with the quality and reliability of FinacPlus’ service that they expanded their requirements to twelve seats and referred it to seven other businesses—this pivotal moment marked the beginning of the company’s rapid growth. “By the end of 2018, we had grown to serve eight clients with a team of 60 seats,” shares Sravan Kumar.
Their momentum continued to build. By 2024, they had expanded their reach to over 32 clients and employed more than 480 talented individuals. What fuelled this remarkable growth was their relentless passion for delivering world-class services across time zones virtually and seamlessly.
“Our employees are at the core of our success,” says Prabhakar. They are not only highly dedicated but also self-managed, embodying sincerity and commitment in every task. “Their enthusiasm and excellence in service have made our clients eager to collaborate with us.”
Their guiding principle, “Under Promise, Over Deliver,” encapsulates their approach: “We consistently exceed expectations and deliver more than we commit to, ensuring client satisfaction and fostering long-term relationships,” states Sravan Kumar.
This philosophy has driven FinacPlus’ success, enabling it to stand out as one of India’s fastest growing outsourcing companies, “Whilst we build a reputation for exceptional service and reliable partnerships,” says Prabhakar, proudly.
On a Mission of Client Empowerment
There’s an equally interesting story behind FinacPlus’ inception. Before embarking on their entrepreneurial journey, Prabhakar, Sravan Kumar, and Satish Kadiyala were dedicated colleagues at S&P Global. After parting ways with the company for various reasons, they found themselves contemplating their next professional move with an entrepreneurial spirit. It was during these discussions that they identified a remarkable opportunity: their strengths, i.e., collective expertise in data analytics, banking, finance, accounting, and software services, that formed a powerful foundation for a new venture – FinacPlus.
Realizing the potential of their diverse skill sets, the trio envisioned a company that could leverage their deep industry knowledge to deliver exceptional virtual back-office solutions on a global scale. They were driven by the idea of harnessing their experience to create services that not only meet but exceed the evolving needs of businesses worldwide.
On August 17, 2017, they officially launched FinacPlus with a clear mission: To provide top-tier Virtual Back Office services that empower clients to focus on their core competencies while entrusting the team with their back-office operations. FinacPlus’ goal was to build a dynamic enterprise that bridges gaps in business processes, offering innovative solutions and unparalleled expertise.
FinacPlus was designed to be more than just a service provider; it aimed to be a trusted partner in clients’ success stories. By combining skills with a commitment to excellence, FinacPlus set out to transform the outsourcing landscape and deliver impactful results for businesses around the globe.
Ensuring Expertise of Excellence
FinacPlus is rooted around three core principles that we believe make us successful: Client-centric innovation, Excellence through Expertise, and Collaborative partnership. Its core philosophy is grounded in delivering services with both passion and perfection. This dedication has not gone unnoticed; it has earned FinacPlus significant recognition and praise from clients around the globe. The exceptional quality of the team’s work has made them a trusted partner in their growth journey.
Nevertheless, in today’s fast-paced business environment, innovation isn’t just a one-time event; it’s a continuous journey. FinacPlus deeply understand this and is committed to the relentless enhancement of its products and services. Its approach centres on an unwavering dedication to listening to its clients’ needs and refining its offerings to match their evolving requirements. This commitment to innovation not only ensures that the firm delivers top-tier services but also inspires its clients to become enthusiastic advocates for the brand.
FinacPlus specializes in empowering small and medium-sized enterprises (SMEs) to scale their operations efficiently and cost-effectively. It offers a comprehensive range of services backed by a world-class workforce, all designed to deliver real-time availability, exceptional reliability, and superior efficiency. Its clients benefit from the team’s ability to provide robust, high-quality solutions that drive their success while minimizing operational costs.
By entrusting their back-office operations and management to FinacPlus, its clients focus entirely on seizing new business development opportunities and refining their strategic initiatives. This strategic shift has led to remarkable improvements in both financial performance and operational efficiency for their businesses.
In essence, FinacPlus doesn’t just provide services—it’s about being a transformative partner that enables clients to achieve outstanding results and reach new heights in their industries.
A Transformative Leadership
Prabhakar and Sravan Kumar primarily resonate that the core of successful leadership is a steadfast commitment to moral values, ethics, and a robust code of conduct. As leaders, they embrace these principles by not only respecting laws and human values but also upholding fair business practices, transparent processes, environmental stewardship, and social responsibility at FinacPlus. This has become instrumental in crafting FinacPlus’ brand value and shaping its visionary path for the coming years.
Whilst coming to their team at FinacPlus, the heart of the leadership philosophy is the belief in empowering self-managed employees. By focusing on moral values rather than rigid rules, they create an environment where freedom and responsibility coexist. Employees thrive in this atmosphere, enjoying a balanced work-life dynamic while feeling a deep sense of ownership and pride in their contributions to the organization.
Transparency is key in their performance appraisal and compensation policies. They ensure that these processes are clear and fair, leaving no room for internal politics or favouritism. This openness reinforces trust and motivates employees to excel, knowing that their efforts are recognized and rewarded based on merit.
By fostering an environment where employees feel valued and empowered, Prabhakar and Sravan Kumar have built a team that is not only committed to delivering exceptional services but also driven by a shared vision of excellence. This leadership philosophy has been pivotal in their company’s growth and success, setting a benchmark for leadership in the outsourcing industry.
Exceeding Expectations, Always and Forever!
Furthermore, they integrate strategies that ensure FinacPlus not only meets operational proficiency and client expectations but consistently exceeds their presumption.
Their journey begins with a deep understanding of the clients’ needs. They engage in comprehensive discussions to align their services with their specific objectives and expectations. By thoroughly understanding their business processes and goals, the team tailors their solutions to meet clients’ unique requirements, ensuring that the firm exceeds their expectations.
Effective communication is key to managing expectations and ensuring alignment. FinacPlus maintains open and transparent lines of communication with its clients, providing regular updates and soliciting feedback. This transparency fosters trust and allows it to address any concerns promptly, ensuring that it remains aligned with client expectations throughout the partnership.
Each client is assigned a dedicated operations manager who serves as a single point of contact. This ensures that client concerns are addressed swiftly and that there is a clear understanding of their organizational goals. The operations managers work closely with clients to provide personalized support and ensure that the company’s services are always in line with clients’ evolving needs.
This multifaceted approach, which prioritizes seamless operations and exceptional client service, enables FinacPlus to enhance the business ecosystem and contribute to industrial efficiency, making it a trusted partner in its clients’ success.
Fostering Innovative Solutions and Quality Outcomes
In the past, a prominent data client faced significant challenges in scaling their operations while maintaining high-quality work. Seeking a solution, they partnered with FinacPlus to enhance their data analytics capabilities. The results were both impressive and transformative.
Through their partnership, the client achieved nearly a 40% increase in productivity. FinacPlus’ initial team of dedicated professionals not only met but exceeded performance expectations, driving the client’s operational efficiency to new heights. Its exceptional results led the client to expand its workforce, adding over 150 new employees to its data analytics platform.
The FinacPlus team played a pivotal role in this success story by providing innovative solutions and expert support tailored to the client’s needs. Its strategic approach and commitment to excellence enabled the client to scale their operations effectively while significantly enhancing the quality of their work.
This collaboration highlights the outsourcing firm’s ability to deliver substantial improvements in productivity and operational performance. By leveraging FinacPlus expertise, the client overcame its scaling challenges and achieved remarkable growth.
Eliminating the Pain-points Entirely
Thus, with FinacPlus, clients benefit from a cohesive and dynamic framework that simplifies complex processes and enhances operational efficiency. Its innovative approach ensures that the solutions provided are both adaptable and secure, enabling businesses to focus on their core objectives while the team handles the intricacies of their end-to-end operations. This dedication to creating a robust and protected ecosystem positions the firm as a trusted strategic partner for Indian operations and aids in driving operational success and achieving strategic goals.
FinacPlus crafts a seamless Cloud-based ecosystem that empowers its clients with customizable end-to-end solutions designed to effortlessly fit their evolving needs. Its approach integrates cutting-edge cloud technologies to ensure that these solutions are not only tailored but also scalable, providing unmatched flexibility and efficiency.
A Holistic Team Empowerment
Prabhakar, Sravan Kumar, and their team’s commitment to excellence extends to safeguarding client information. They prioritize robust cybersecurity measures to protect sensitive data, ensuring that their clients’ operations remain secure and that their trust in the team is unwavering. By combining advanced cloud solutions with stringent security protocols, FinacPlus delivers a streamlined and secure operational environment that supports its clients’ growth and success.
FinacPlus fosters a self-managed and ethical work culture, empowering employees to excel with minimal rules while maintaining high moral standards. Its focus on transparency and merit-based rewards eliminates favouritism and internal politics, promoting professional growth. A key differentiator is its emphasis on direct client interaction, which enhances employees’ skills beyond typical outsourcing models. This hands-on approach improves service quality and fosters a growth-oriented environment. FinacPlus’ unique culture attracts top talent and ensures superior client service, setting a new standard in the outsourcing industry.
Combating Challenges with a Tech-powered Mindset
FinacPlus initially faced challenges in earning trust from global clients with robust in-house systems. However, its proven track record of delivering innovative solutions and overcoming obstacles has built confidence over time. Clients, starting with minimal resources, often see significant improvements and cost savings, leading to increased collaboration. FinacPlus offers a cost-effective alternative to traditional multinationals, providing tailored solutions that drive performance and efficiency. Its commitment to delivering results not only builds trust but positions FinacPlus as a strategic partner in client growth and success.
FinacPlus constantly focuses on new technologies adopted by clients and upgrades existing services to match their expectations. This development happens hand in hand. FinacPlus is always an enabler of innovative technologies and processes such as AI, ML, RPA, Virtual Reality, Cyber Security, GenAI, etc., that are adopted by our clients.
Ultimately, FinacPlus will upgrade the skill set of Service Consultants to equip them to work on changed processes caused by new technology adoption and other developments within the client environment.
Also, FinacPlus will enter new service areas to cater to the needs of clients aspiring to implement new technology, software applications, processes, improvements to existing processes, etc., by adding the required infrastructure and resources. This will enable clients to take advantage of innovative approaches available in their area and make them competitive in their industry.
A Principled Message
Prabhakar and Sravan Kumar’s advice for aspiring entrepreneurs in the outsourcing industry, the key to long-term success lies in two fundamental principles: solving client challenges and steadfastly honoring commitments.
Firstly, focus on developing products and services that address your customers’ daily struggles. Understanding their pain points and crafting solutions tailored to meet their specific needs is essential. This customer-centric approach ensures that your offerings are not just functional but genuinely valuable.
Equally important is your commitment to delivering on your promises. In the competitive outsourcing landscape, maintaining integrity and honoring your commitments is crucial. Ensure that every obligation and promise made to your clients is met with the utmost sincerity.
As an entrepreneur, embracing these strategies will not only drive growth but also establish your reputation as a trustworthy and effective partner in the outsourcing industry.
Driving an Exceptional Future of Possibilities
Finally, divulging their plans, Prabhakar and Sravan Kumar say, “We are thrilled with our strategic plans and what the future holds for FinacPlus’ further growth and innovation. Our immediate focus is expanding our reach within the industries we currently serve. We aim to connect with more potential clients, leveraging our proven expertise to offer enhanced solutions and drive further success in the mortgage and data analytics sectors.”
In addition to strengthening their presence in existing markets, they also commit to continuously innovate and refine their offerings, ensuring that their partnered clients benefit from cutting-edge solutions that efficiently address their unique challenges.
Looking ahead, they are also targeting new geographical markets to broaden their international footprint. Sravan Kumar adds, “Our goal is to introduce our services to potential clients in emerging countries, creating new opportunities for growth and collaboration.”
To support these ambitions, they are investing in the development of various virtual business processes designed to cater to new industries. Additionally, they have plans to work on advanced internet-based service platforms to automate processes and enhance operational efficiency throughout FinacPlus.
“These forward initiatives reflect our commitment towards staying at the forefront of technological advancements and delivering exceptional value to our clients worldwide,” concludes Prabhakar.
