FinacPlus Global Services Pvt Ltd

FinacPlus Global: Empowering Global Businesses through Customizable Virtual Back-office Processes and Data Analytics Solutions

CEO of the Year 2024

FinacPlus Global Services Pvt Ltd., incorporated in 2017, has been a trailblazer in providing customised virtual backoffice and data analytics solutions. What began as a modest team has evolved into a robust enterprise with over 460 employees, servicing 28+ clients worldwide and contributing to the success of businesses with 4X growth.

In a business landscape often dominated by MNCs, FinacPlus stands out as a transformative force, providing virtual office and data services to clients worldwide. FinacPlus’ expertise spans a wide range of sectors, including mortgage, private lending, banking, e-commerce, real estate, private equity, hedge funds, mutual funds, investment management, capital market intelligence, and data analytics.

“Our unique solutions empower industries, focusing on, but not limited to, Operations Support, Loan Origination, Loan Underwriting, Loan Servicing, Accounting, Treasury, Loan Processing Software Development & Testing, Data Science, Digital Marketing, SEO, Web Applications Development, Salesforce Development, Fund Accounting, Billing, Vendor Management, Inventory Management, Customer Service, Financials Data Research, Corporate Management Data Research, Data Collection Automation, etc.,” remarks Prabhakar Rao Kotapati, CEO of FinacPlus.

Kyle Major Managing Director – Asset Management

“Since engaging with FinacPlus, Churchill Real Estate has experienced many great advances in its productivity and quality of work. Churchill’s business demands speed, accuracy and service and we found a great partner in FinacPlus to help support the demands of our business. In addition to the great work our FinacPlus team members provide to our firm, we have also seen strong relationships and comradery grow and persist among our people even though there is much distance between our teams. Churchill has and will continue to recommend FinacPlus to its counterparties.” – Kyle, Churchill Real Estate.

Serving as a one-stop destination for small and medium-sized businesses, FinacPlus scales up its operations with top-notch personnel at a reasonable cost, offering real-time availability, greater reliability, and high-level efficiency. By delegating all back-office operations and management to FinacPlus, clients have achieved remarkable financial and operational outcomes. This strategic partnership allows FinacPlus’ clients to focus on penetrating new business development opportunities and business strategies while FinacPlus handles the critical yet time-consuming aspects of their operations.

The Founding Story

Prabhakar Rao Kotapati, Sravan Kumar Pamidimalla, and Satish Kadiyala, the trio of three industry professionals, were previously colleagues at S&P Global. After leaving their jobs for several reasons, they initially sought new positions at different companies. However, inspired by their extensive skill set and experience in data analytics, banking, finance, accounting, and software services, they decided to start their own business. This vision led to the foundation of FinacPlus on August 17, 2017.

It has taken them eight months to gain the confidence of their first client in the US mortgage private lending industry. Initially, the Client entrusted them with only two seats. The FinacPlus team dedicated themselves with complete attention and sincerity impressing the client with their exceptional services.; as a result, the client was impressed with their services. As a result, within two months, the client expanded the number of seats to twelve, marking the beginning of FinacPlus’s successful journey.

By the end of 2018, FinacPlus had grown to eight client companies with 60 seats. The company continued its success trajectory, delivering world-class services to its global clientele in their time zone virtually. This expansion showcased FinacPlus’s ability to scale efficiently while maintaining high standards of service and client satisfaction.

Innovation: A Key Driving Factor

Innovation is at the heart of FinacPlus’s operations with steadfast focus on quality and innovativeness in every service. “We continuously enhance our offerings to meet the evolving needs of our clients. Unless we listen to the voices of our customers, we cannot deliver as per their requirements.

Once we deliver the best and most cutting-edge services to our clients, they will propagate about the company and its services,” asserted Mr Prabhakar. FinacPlus’s commitment to innovation ensures that they remain ahead of industry trends, consistently providing exceptional value to their global clientele.

Satisfied Clients, The Best Marketing Resource

For FinacPlus, new clients mostly have come due to a recommendation or referral from existing customers. This demonstrates that word-of-mouth recommendations are FinacPlus’s most effective marketing strategy. Additionally, the team actively reaches out to reach out to prospective customers with similar needs and presents the benefits of its services. This dual approach of leveraging client satisfaction and proactive engagement has been key to FinacPlus’s growth and success.

Industry Evolution Over the Years

Starting a business in a developing nation like India used to be challenging. However, globalization has created opportunities for skilled and experienced professionals to develop business processes and models that cater to the needs of global companies seeking expert and reliable services. This opened doors to many business opportunities within India and outside India, enabling companies like FinacPlus to thrive on a global scale.

Defining Leadership

Leadership plays a significant role in growing a company and strengthening its foundation. According to Mr. Prabhakar, leadership is about moral values, ethics, self-governance, and a code of conduct. Leaders should uphold all laws, human values, fair business practices, transparent processes, environmental protection, and social responsibility. By embodying these principles, leaders can shape a company into one with exceptional brand value and a clear, impactful vision.

Nurturing a Distinctive Work Culture

Mr Prabhakar is a leader who values self-managed employees and fosters a work environment focused on morality rather than strict rules. Because of this, FinacPlus values self-managed employees and encourages a work environment that places a greater emphasis on morality than rules.

This approach allows employees to enjoy significant freedom as long as they are delivering wonderful services to the clients and doing the right things. They always have a great work-life balance because they feel they are working for themselves.

The company’s transparent performance appraisal and pay processes ensure that internal politics and favouritism have no place. “Our core value is delivering services with passion and perfection,” asserts Mr. Prabhakar. He adds, “This quality of FinacPlus workforce received tremendous recognition and accolades from all our global clients.”

Shaping the Future of FinacPlus

In the years ahead, FinacPlus will emerge as a pivotal player in crafting diverse virtual business processes to cater to new industries and developing internet-based service platforms to automate processes. The company’s vision extends beyond global-level growth; it aims to become a global leader in the virtual professional services and data analytics industry, offering end-to-end, bespoke solutions.

Through its dedication to research, development, and growth, FinacPlus endeavors to reach out to more potential clients in the industry, develop new services for its existing clients, and plan to reach potential clients in new countries in the future. This forward-thinking approach will drive FinacPlus’ continued success and global prominence in the industry.

Milestones and Metrics of Success

FinacPlus has achieved notable milestones, reflecting the success of its strategic initiatives. A key accomplishment includes a significant increase in market share, adding software services to its clients, and opening an office in Bangalore, in addition to its eight offices in Hyderabad.

Further, the company has been honoured with the Excellence in IT-Enabled Services” Award from the Economic Times for the Telangana region. These achievements underscore FinacPlus’s growth, innovation, and commitment to excellence in the industry.

Pearls of Wisdom for Budding Entrepreneurs

Entrepreneurs aspiring to start their businesses should focus on building products and services for their customers that can solve their day-to-day challenges. This focus on solving real problems is crucial for success.

Business leaders must honour their commitments, obligations, and promises about their offerings with the utmost sincerity to ensure their success as entrepreneurs. Upholding these values is essential for establishing trust, ensuring customer satisfaction, and achieving long-term success as a business owner.

Parting Words

Establishing and running a business extends beyond personal gain. It’s about creating an organization that provides opportunities for aspiring individuals to excel and realize their dreams through the company.

An organisation should not be just profit-oriented; it should aim higher and serve the interests of all parties involved to meet the needs of all stakeholders, including society, government, and common people who are not directly connected to the company. By striving to become admirable and responsible global citizens, organisations can fulfil a broader purpose and make a positive impact on the world.

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