Munimjee BPO plans Rs 10 cr investment

Munimjee, a finance and accounting business process outsourcing (BPO) services is planning Rs 10 crore investment in one year for its GNFC tower unit. The company will carry out accounting and financial operations for UK based Eura Audit International

"We have invested Rs six crore as of now and by the end of next fiscal, the company will invest another Rs 10 crore for the expansion of the company," said Sandeep Patel, chief operating officer,Munimjee.

About recruitment strategy, Vikram Sanghvi, chief operating officer (new business initiatives), Munimjee said: "The state has the potential of employment in BPO sector for which they need to have communication skill. Gujaratis have good communication and accounting skills that push them further and we too feel more confident about the linguistic and technical abilities of the people of Gujarat."

Amit Somaiya, chief financial officer of Munimjee said,:"The company has selected 100 graduates from Gujarat and is training them. The company will increase the seats capacity to over 250 by December end."

Explaining the name of the company, Somaiya said Munimjee, a traditional word for accountant in India and the company was provider of finance, accounting and tax outsourcing services from its office in UK and offshore centre in India.

Patel said the company offered services to clients from accountancy companies to bookkeeping specialists companies. Our staff offers accounts preparation such as year-end accounts, business and personal tax, and management accounts such as monthly accountants, budget and forecasting.

When asked about competition from other players, Ashok Vithlani, advisor of Munimjee said demand for normal accounting and taxation services was increasing rapidly and there was enough work for every player.

"Munimjee features a unique combination of business expertise, capabilities, technologies, and management disciplines. These enable us to provide our clients with quantifiable gains in quality and operational efficiency, at significantly lower costs, Vithlani added.

He further said Munimjee worked with clients' current technology wherever possible, avoiding the need for additional investments. Munimjee has its offices in UK where majority of its clientele are situated and is progressing to acquire clients in other European countries such as France, Italy, Germany, Switzerland and Sweden.