Q&A: Swetha Kochar Partner at PKC Management Consulting

10 April 2023 Consultancy.in 4 min. read
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Swetha Kochar is a partner at PKC Management Consulting, a homegrown advisory firm focused on three verticals – process consulting, audit & assurance, and taxation. We asked her five questions about the firm’s profile and ambitions.

What is PKC and what services does the firm provide?

PKC is a new-age consultancy that comes from a rich expertise of finance management and business transformation. While we offer companies process consulting, ERP implementation, tax and financial services, we also want to educate them on the need to change and digitise.

Our primary goal is to assist family-managed companies in leveraging technology to achieve exponential growth. Our services include management consultancy, technology integration, taxation, and financial planning.

Q&A: Swetha Kochar, Partner at PKC Management Consulting

With over 75% of the incorporated business in India being run by families, we realized that family businesses were a rapidly growing yet untapped market. We service clients across a wide variety of industries, such as retail, manufacturing, real estate and construction, education, healthcare, trade and distribution, and information technology.

What type of digitalisation projects does PKC work on?

Every founder is aware that they must transition to digital solutions, but they require assistance in determining where to begin and how to succeed with their digital investments. Given that there are hundreds of software products available for every application on the market today, founders sometimes struggle to choose one.

Eighty percent of businesses don’t use more than 10 to 20 percent of the software’s capabilities. In the digitization process, many businesses adopt the trial and error method, by using multiple softwares to see which one works best. While this might seem like the best way to go, it can be extremely time consuming and lead to no result.

At PKC Management Consulting, we try to understand the problems our clients face and provide the right software using our team of experts. We have worked on 100+ operations automation projects enabling clients to reduce human involvement by a great extent thereby improving accuracy and speed.

How has the digital transformation work you have been doing for family-businesses over the last two years differed from prior years?

When digitisation started sweeping the world, family businesses in India were still debating the possibilities and pros and cons of digital transformation. It was a concept that people were still trying to understand and therefore had no serious desire to implement.

At PKC, we realized the importance of digital transformation years before it became an absolute necessity. We therefore started working with businesses to help them transition earlier which supported them in streamlining operations when everyone began converting to virtual workplaces. We have come to understand that work can be done online, and ERP can also be used online.

Today, you can find boardrooms of family businesses allocating budgets solely to digital transformation.

What are the market opportunities?

Today, about 85% of all incorporated businesses in India are family businesses and contribute almost 70% to the overall GDP. While most of these businesses run out of metro cities, they are still understanding and gradually adopting digital transformation as a part of their day-to-day operations.

While the much bigger businesses have adapted to technology, many mid-sized businesses still lag behind leaving a huge untapped opportunity for business consultancies to tap.

What are PKF’s future plans?

We intend to grow the business by 3x over the next three years by expanding our digital transformation and process consulting services, which have repaid our clients handsomely. To cater to the needs of fast growing markets, we are also aiming to launch specialised services that can be customised according to the needs of their businesses.

As the only consulting firm in India with a fully automated financial audit practice, we assist mid-sized businesses in achieving scale at lower costs and reaping the benefits of financial discipline and management.

Additionally, we intend to establish an offshoring practice for middle-tier international accounting firms to outsource work to India, which will help drive economies. allowing them to transition to higher-level services.