How a young consulting firm is transforming businesses through ROI
Practus is the epitome of successful implementation. We understand that transformation is at the core of organizational success, innovation, and reimagining. Practus is critical to the change that enables, empowers, and enthuses the systems, processes, and resources to align with the evolving organizational goals as an implementation services company. Family-owned, private equity/venture capital-backed, listed firms, MNCs, and social impact organizations can benefit from our Office of the CFO, Performance Improvement, and Business Transformation services. By committing 3x to 12x ROI on our fee, we take entire ownership of the change and work on an outcome-based strategy. Our operations in New York, Dubai, and India serve a global client base spanning all industry verticals and sizes. We connect the dots, uncover what is invisible, create value, and produce results for start-ups, mid-size businesses, and multinational corporations.Mr.Deepak Narayanan– Founder and CEO of Practus in a discussion with CXOToday share some insights on the same
Q1) Could you please brief us about Practus and the services provided?
At Practus, our purpose is to disrupt the ‘consulting’ space & challenge the status quo. For the longest period of time, consultants have serviced clients using a Time and Material (T&M) or a fixed fee model without linkage to delivering tangible business outcomes. Practus is committed to change that paradigm by committing and delivering to an ROI which is expressed as a multiple of its fee. Technology is used as an enabler to solve business problems along with a highly skilled team. In the last decade, Practus (earlier known as MyCFO) has successfully assisted close to 1,000 companies across 9 countries in solving business problems across finance, supply chain, operations, manufacturing, sales, and marketing functions to significantly improve their revenues, cash flows, profits, and efficiencies. Practus serves global clients from its offices in India, New York and Dubai. Practus’ unique differentiator is the commitment to deliver a tangible ROI to its customers and has delivered close to $200 million in savings in the last 10 years alone through the following service offerings
Office of CFO Performance Improvement Business Transformation
- Office of CEO
- Performance improvement
- Business transformation
Q2) What kind of technologies do you use to improve and streamline your clients’ financial operations?
Practus has worked with over 150 products in the last decade to solve specific client problems. ROI delivered ranged from 3x to 30x of the Transformation spends. Some of the areas where Practus has worked on has been Business Intelligence where tools such as Power BI (Microsoft), Qlik View and Tableau have been implemented or ERP’s such as SAP, Microsoft, Netsuite amongst others or in the areas of AI where we have had the opportunity to implement Robotic Process Automation (RPA) for several companies using UI Path or Automation Anywhere or in solving specific client problems across Procure to Pay (SAP Ariba, Expenzing), Financial statement consolidation (Blackline), Budgeting, Planning, consolidation (Quarkcube, GIDE) amongst others.
3) What are the sectors that you are aiming for and the benefits of your goods & services?
Practus works with organizations ranging from start-ups to Fortune 500 companies and has delivered measurable impact across diverse industries. While Practus is industry agnostic, our focus sectors are Healthcare, Pharma, Biotech, Technology/IT, FMCG/Consumer products, Auto & Logistics, Financial Services, Manufacturing, Professional services, Private Equity, Education, Media & Gaming
4)What technological difficulties do you encounter when providing business transformation services?
We use technology to solve business problems. Technology is strictly an enabler and never the full solution. Technology when dovetailed with people and expertise delivers tangible ROI to clients. As I mentioned earlier, we have delivered an ROI of $200 million to clients in the last decade helping them save costs (improve profitability), improve cashflows, optimize revenues and enhance enterprise valuations
Q5) Any plans for geographical or corporate growth?
We have serviced clients in 9 countries with our teams spread across India, US and Middle East/Africa. In India, we have clients and teams operating out of Mumbai, NCR, Bangalore, Hyderabad, Chennai. We believe that given the market size both in India and overseas, we have a once in a lifetime opportunity to expand exponentially both in India and globally and operate at scale. This holds true even in the case of adding newer services as long as it fits into our broader strategy
