When Milap Pravinbhai Gatecha, Designated Partner in K M GATECHA & CO LLP, joined the firm, he had his vision firmly set on the goal of diverting from the traditional practice of taxation and audit legal requirements to comprehensive and active support to the business entities. And during the last five years, he accomplished it by providing a broad range of advisory activities and management support services to strengthen and improve productivity and profitability in the clients’ business with total compliance with legal business laws and applicable regulatory framework.

Milap shares, “Dedication and discipline are the aims of our parents and employees, giving an edge to our professional services for the clients.” This determination has made the firm one of the best chartered accountants in Ahmedabad, Gujarat, India. The firm is not only continuously accelerating to be amongst top runners in the top accounting firms or accounting companies’ profession but also abides with a capability to provide one-stop value addition to professional services.

Besides, the firm’s mission is to update professional skills to cope with ever-evolving business requirements, provide qualitative services, assist clients in managing tax-related dynamic situations in the rapidly changing business segment, and assist the incorrect decision-making process.

Milap states, “On the other hand, we CA’s, keep ourselves updated with day-to-day reforms in the business accountant world and legal and regulatory policies.” This way, the firm maintains strong and long-lasting business relations with clients. It is always ready to provide personalized, authenticated, and committed services. The team is easily accessible for strong business advice and qualitative services at cost-effective fees with the highest ethics keeping professional standards.

Regarding his experience, Milap says, “My journey started as a manager (scale- II) at the Karur Vysya Bank. I am also a certified forensic auditor with experience of professionally managing corporates in my capacity as a consultant in the accounting and auditing field.”

Milap’s extensive exposure includes,

~Experience at the Karur Vysya Bank Ltd as manager (Scale-II) at the regional office level in the credit processing office for one year.

~Statutory audit of two nationalized banks and one cooperative bank.

~Handling concurrent audits of large branches of nationalized banks.

~In charge of Stock Audit, Credit Audit and Revenue Audit of various banks.

~Providing Statutory Audit services to numerous Private Limited Companies, Limited Companies and other corporates under the Companies Act, 2013.

~Performing Indirect and Direct tax audit/returns, Company related services (incorporation/preparation of search report, MOA, AOA/filings of returns), Accounting, TAX assessment, scrutiny, and appeals of corporates, firms, proprietorships, and other entities.

~Managing the matters pertaining to Annual filings to be made with MCA of Private Companies under the Companies Act, 2013.

~Carrying out due diligence of large corporate for projects relating to slump sales.

In an interview with CIOLook India, Milap spoke briefly about their leading position in the industry and their vision to advance their services further. The highlights of the enlightening discussion are given herein.

Sir, please brief our audience about your firm, its USPs, and how it is currently positioned as a leading player in the Accounting and Tax consulting space.

K M GATECHA & CO LLP is one of the leading Chartered Accountants Firm in Ahmedabad. The Firm is managed and run by a group of qualified Chartered Accountants, Company Secretaries, Corporate Financial Advisors and Tax Consultants. We have accumulated five years of experience in adding value to clients by providing a multitude of services.

We have climbed the ladder of the Top-5 CA Firms in Ahmedabad. We strive to continuously provide our clients with the highest quality of professional services and guidance. Thus, our way of working improvises by often taking feedback from our clients. By leveraging our staff’s knowledge and abilities, we go the extra mile for clients. We exceed our clients’ expectations, making us the best CA firm in Ahmedabad for audit by helping them achieve their endeavours.

What other products/solutions does your firm offer, and how are these impacting the Accounting and Tax consulting space and your clients?

We deliver the highest quality through integrity, unwavering objective, and heavy investment in data, tools, technology, products, and services. The result is an environment where agility, consistency, and insight thrive, and our people can repeatedly provide clients with the excellence they expect.

Being an experienced leader, share with us your opinion on what impact the adoption of modern technologies such as AI, big data, and machine learning had on the consultancy niche and what more could be expected in the future.

Modern technology is important because it enables human capabilities – understanding, reasoning, planning, communication, and perception – to be undertaken by software increasingly effectively, efficiently, and at low cost. Artificial intelligence has a wide range of uses in businesses, including streamlining job processes and aggregating business data.

In fact, most of us interact with AI in some form or another on a daily basis. It will help companies eliminate repeatable day-by-day tasks. AI’s primary goal is to accelerate employees’ workflow and allow more time for higher-priority tasks. Today, organizations automate various activities like hiring candidates, data transformation, marketing campaigns, accounting, etc.

Considering the current scenario, what challenges do you face, and how did you drive your company to overcome them?

Growing businesses face a range of challenges. As a business grows, different problems and opportunities demand different solutions – what worked a year ago might not be the best approach today.

These are some challenges –Keeping up with the market, Planning ahead, Problem-solving, The right systems, Skills and attitudes, and Welcoming change. All too often, avoidable mistakes turn what could have been a great business into an also-ran.

What would be your advice to budding entrepreneurs who aspire to venture into the consultancy space?

Find your productivity groove as quickly as possible, even before you start your business. If you want to be successful, you need to start with a breakthrough idea. It must be something you can do better than the others out there. It takes a long time to make a profit. So don’t quit your job expecting you will get rich overnight. It may take several years to build your business. Your business concept must make sense to people.

How do you envision scaling your company’s operations and offerings in the future?

Conduct periodic reviews of your team and the company’s strategies– These will ensure that you’re on track with your company’s goals in the next few years.

Overcoming future growth challenges– Multidirectional growth is achievable. However, it requires a lot of careful planning to sustain such rapid growth. Suppose you approach your business without understanding the nuances of scaling in multiple directions. In that case, you may end up stuck on a linear growth level or struggle to even remain in business after you achieve such growth.

Stop looking at the competition– instead of comparing your product with the competition’s, adopt a white-paper approach by brainstorming the best possible solutions and delivering the most automated solution for the future. This way, your organization can operate and scale in multiple dimensions simultaneously with less effort.