he story behind Mangal Analytics and Research Consulting (MARC)is one of zeal and entrepreneurship. Born to a CA father, Ashutosh Kharangate always desired to try out newer horizons and so during his CA days did a short stint with a fantastic and innovative company in Goa called KinecoPvt. Ltd. This stint with the company further fuelled his interest into financial analytics. Hence post his CA, he landed up with his first and job in PwC– Mumbai and had an amazing learning experience. He travelled the length and breadth of the country and beyond; which opened newer horizons and hence was born MARC. MARC specialises in financial analytics and market research. The company provides real time support to improve the accounting, financial and operational systems.
Originally incorporated as a partnership firm named Mangal Advisory Services in August 2010, MARC has executed amazing work across the country right from Goa. Yet, the road at the start was filled with difficulties. Throwing light on the challenges, Ashutosh speaks, “I believe the biggest setback or challenge in analytics is the awareness which needs to be created amongst the entrepreneurs. In India unfortunately businessmen only focus on those items which are regulatory in nature and do not pay much heed to financial detailing. Even if they are convinced, the willingness to pay is a challenge. We believe in a long term relation to counter this. We start slow. Develop confidence in the entrepreneur and look to grow with him. Our motto is Delivering Excellence, Partnering Success and we stick to that vision”.
MARC works with several SME’s to enable increase in profitability and uses its financial knowledge to assess the financial statements and other records of the organisation.
Believing that every business is unique and has the capability to be the best, MARC makes effort to reduce failures and does not shy away from providing localised service too. They help several businesses start up shops at different locations by doing a primary research to assess revenues and costs.Additionally, MARC works with several SME’s to enable increase in profitability and uses its financial knowledge to assess the financial statements and other records of the organisation to identify loop holes and suggest ways and means of improving profitability. They also specialise in developing Standard Operating Procedures (SOP’s) which help to guard against income leakages. Further, they enable companies find markets across borders, both inbound and outbound.
Undoubtedly, MARCover the years has carved a niche and has serviced clients in Belgaum, Chennai, Pune, Mumbai, Kerala and Delhi as well and has left no stone unturned to deliver services to other consultants in Portugal, Sweden and Canada. “We started in Goa at a time when the need for such services was not felt. We created our own market. We have a monopoly in Goa with respect to our services. We have had a 30 percent CAGR over the last 3 years. Our client base has almost doubled over last two years which includes national and international clients as well”, he says.
In the near future, team MARC plans to expand its roots in the Tier 2 and Tier 3 cities mainly in the Western Region. MARC is also keen on making Goa and India the hub of execution of complex analytics for the world. “We recently successfully got a Canadian company into pharma control equipment to set up a manufacturing unit in India. We are also keen on developing our own proprietary software which can help smaller firms be more financially literate for better decision making,” he concludes on a positive note.