Effective finance management plays a critical role in any organization’s success. The consistent growth and sustainability of any organization is massively dependent on efficient planning and execution of various financial activities in it and that’s where business consulting firms come in. Apart from taking care of client’s finance, business consulting firms across the world use their strategies and skillsets to guide their clients to achieve consistent business growth and success. The Business consulting sector in Asia is experiencing a massive boom and is poised to grow at a CAGR of 6.3 percent, especially in the Middle-East, due to the implementation of various regulations requiring proper bookkeeping and compliance.
Started in 2018, HKMS Group is a Dubai-based leading business consulting firm with specialization in a wide range of services, such as accounting, tax compliance, audit, management consulting, company formation, liquidation, and Visa related services. The firm currently provides support to over 500 clients in the Middle-East and has more than 20 people working in its UAE offices, followed by 10+ people in its India offices serving clients from all regions of the world. With a client retention rate of 95 percent, HKMS stands out in the competitive market.
Following a Smooth Client Engagement Cycle:
The client onboarding process at HKMS starts with an initial business understanding meeting in which all client queries are answered and pain points are identified. Later, a detailed engagement letter outlining the scope of work is shared with the customer. Upon signing, an initial kick-off meeting is held to understand the assignment and set timelines, where information is documented and approved, followed by a review of client documents by the HKMS team. After the assignments are over, results are discussed with management, solutions are presented, and final reports are submitted.
The Advantageous Expertise In Various Domains Enables HKMS To Differentiate Itself From Market Leaders And Compete On Price, Positioning Them As A Favorable Option In The Industry
The team of experts at the firm have a combined experience of more than 85 years and are assigned to client projects based on their expertise or specialization. Coming to its core team, each of the three partners at the firm manage different service domains in there. While one of the partners manages bookkeeping & accounting, the second partner focuses on tax compliance & advisory, and the last one handles audits. Each of the partners have their own dedicated team to support them. Sagar Mistry leads the firm for all the services and is an entry level expert for new companies planning to set up in UAE region.
Milestones and Future Roadmap:
Started in 2018, with just one client, HKMS has come a long way with a client base of more than 500 in the Middle East region itself. The firm continues to play a vital role in promoting excellence in a management role and supporting the professional growth of its members. The organization remains dedicated to its mission of promoting best practices in management and supporting the professional development of its members. Coming to the future roadmap, the firm wants to impart knowledge in the market to help existing as well as new businesses and investors to make the right decision. HKMS is also planning to open international offices in countries like Singapore, China, Europe as well as the US to extend professional support across those regions.
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