PREQUATE ADVISORY – CATALYZING BUSINESS FROM CRADLE TO SALE
“Good businesses are built with good people. Great businesses are built with good people armed with great systems.” – Pradyumna Nag
Prequate Advisory, a boutique management consulting & financial advisory firm, headquartered in Bengaluru, works with businesses to grow faster, make more while spending less and access quality assets + capital. They tailor-make & deploy modern management tools and high-impact strategic finance methods. This makes their impact-driven model uniquely ground-setting combined with the ‘growth-partner’ positioning under the hegemony of Pradyumna Nag and Rakesh Bordia.
The foundation of the company was set in 2010 and since inception, it has worked with over 350 clients across 20+ industries in 20+ countries.
Pradyumna Nag – Partner
Intending to help mid-sized organizations solve complex growth problems, Pradyumna Nag established Prequate with his co-founders in 2010. The genesis came from his time in KPMG and since then his experience has taken him across the breadth of industry – from NASDAQ listed companies to India’s largest NGOs to seed-funded start-ups – solving complex problems with Global CXOs.
Pradyumna is a Chartered Accountant by qualification with a post-graduation in International Business Strategy from IIFT, Delhi.
Rakesh Bordia – Partner
Rakesh is an experienced professional with decade-plus of experience in corporate finance, risk advisory and assurance. His experience has taken him through key advisory roles – from cost optimization to governance systems – in numerous mid-to-large sized organizations ranging from Real Estate to Heavy Manufacturing to FMCG at SDU & now, at Prequate.
Rakesh is a Chartered Accountant and Company Secretary by qualification and dons the badge of a National Level rank holder in the CA Qualification examinations.
TRADEMARKS OF A VALUABLE BUSINESS CONSULTANT
Resultants vs. Consultants: Prequate adopts a unique mindset – as ‘resultants’ than ‘consultants’ which means that they get involved in executing change than just providing advice.
Cross-functional Skills: For initiatives to be successful organizations need the machinery of a multifunctional team, which many SMEs lack. Prequate’s cross-functional experts work together as a team within the company bringing in a wealth of experiences of having worked with 100s of organizations from all over the world.
Non-Pyramid Style Consulting: Management consulting is a very unusual domain. In order to offer advisory with execution, the team that works with you must be flat at the top – in terms of experience levels. In most other consulting firms, the most impactful/ experienced talent is charged only with oversight.
SERVING A UNIQUE PURPOSE
Leadership in organizations are made up of people who lack the bandwidth (time/ talent) to execute initiatives internally. Prequate provides them with this bandwidth in a flexible and result-driven manner.
- Time. Most leaders have time to focus only on specific key goals at a given point of time. They often do not get the time to introspect and look inwards on the ‘what & how’ of bringing in change.
- Objectivity. An external & independent view gives you only straight answers which are not embroiled in emotion or perceived notions.
- Talent gap. The single biggest gap for today’s entrepreneur is to source a high-functioning team to sustainably work towards his/her long-term goals. The skill sets needed are so dynamic and each initiative may need new skill sets, which is hard to equip for Day 1.
MARKET DEMAND AND THE RIGHT TARGET AUDIENCE
Over the last decade, mid-sized businesses have slowly become open to the idea of getting external support and bringing in management advisory. However, they still need education about what value these advisory firms can create for them. For Prequate, these changemakers form the right target market – businesses usually with a top-line between $2M and $30M, where they are eager to start making strides to unlock hidden value.
THE SHIFTING MARKET TRENDS AND TECHNOLOGY
Technology has optimized operational processes and helps automate several functions performed at a low. Here, Prequate makes it a point to use technology on all engagements as softer value-adds that end up improving their own value delivery.
The consulting industry is also going through a drastic change. The future will mean result-based engagements, where consultants will have to showcase their skin-in-the-game. This is where boutique consulting firms will rule the roost as they are willing to shoulder more responsibility. ‘One-time’ engagement mindset will be replaced with lifetime partnerships.
HURDLES ON THE WAY
Education: While SMEs are becoming increasingly open, they still do not know whom to turn to for answers and in a lot of cases even unaware of the right questions to ask the consultants they are prospecting.
Intangible: The value of advisory only begins when engagement happens. This requires participation to visualize the impact on both sides.
The Misconception: Most SMEs do not see the urgency to implement measures till they encounter a problem. Sometimes, when something becomes urgent, it may already be too late.
BUSINESS MODEL FOR A SUCCESSFUL BRAND
Pradyumna explains, “Success, today, is both relative and transcendent as the barriers to entry are lower than ever before. Lasting success, in any domain, is only possible when you are adapting to change long before the change occurs. An independent set of ears and eyes is extremely critical if you need to stay relevant.”
Further, he adds, “We look at it as an exercise that begins with knowing the core fundamentals with which the business has been built:
- Extract the core values of the management and what makes the business successful
- Link the core values to what makes a business successful (your value propositions)
- Extrapolate how these core values provide an edge in the medium term
- Develop how these value propositions can be stimulated for exponential growth in the long term
- Tweak business models or bring in new business models that can help achieve this growth
- Develop actionable roadmaps with clear goals (success factors) & a specific ‘why’ for each initiative
- Design the key metrics that need to be measured to ensure that the business is on-track, always”
NATURE OF CLIENTS AND CORPORATE ETHOS
Prequate works with start-ups and mid-sized businesses and follows these values – (1) their business is your business (integrity, passion, dedication, and high accountability). (2) You are their growth partner (clarity, communication, honesty, always looking for win-win-wins) and (3) our name begets their trust (mutual respect) but your work (quality) should be the reason they succeed.
FEATHERS IN THE CAP
- Prequate, in association with TEGS 2019 published the ‘Indian Education Report 2019’ regarded as one of India’s most comprehensive compendiums
- Prequate’s views on ‘How to correctly value a running business’ was featured in the Professional Insights literature of the Valuation Standards Board
- Prequate has also been recognized and featured by several business magazines for its breakthrough approach to result-oriented advisory
- Prequate’s clients have included Public companies, Academy Award winners, Forbes 30U30 winners, VC-funded companies to award-winning MNCs across the world.
VALUES AND COMPLIANCES
Highly selective hiring – Every new joinee is picked from among 100s of applications they receive each year.
Grooming Period – New joinees, irrespective of prior experience, spend time supporting delivery till they get the hang of being an impactful advisor.
Process-orientation: Standardisation on all non-client-facing activities is key to maintaining a strong level of efficiency for all client-facing time.