he year 2013 started on a positive note for Mr.Kumar SV, A Chartered & a Cost Accountant with over 18 years of experience in the Risk Advisory space. Kumar actualized his dream of setting up a Consulting Enterprise, with a vision of integrating Corporate Governance with Business Value. His vast and diverse experience in the risk advisory& management consulting space helped him foray across various segments such as Telecom ,Retail, Real Estate, Engineering, Manufacturing, Hospital, Hotel, Power, Automotives, Healthcare ,Farming, and ITES.
During his tenure with Nokia Siemens Networks as Global Controller and TPG, where he headed the Internal Audit domain, Kumar successfully aligned Corporate Governance measures with business needs that allowed the business leaders to view GRC with a fresh perspective.“This is when I had noticed that Governance Risk & Compliance(GRC) was still an isolated initiative within the over all business strategy, and started dovetailing these two aspects as I intended to bridge the gap between the client expectations and the service offerings by various consulting organizations” says Kumar. With a clear focus on providing tailor made GRC solutions to clients, Kumar with his industry experience set outto take GRC practices to the next level by adopting a sustainable, proactive, and scalable approach. He founded Xestion Advisor Private Limited (XAPL) in January 2013.
The timing was just perfect for XAPL as Corporate Governance gained focus in light of increased foreign investments in the country and businesses were looking to manage their risks and opportunities proactively. Starting with Retail Industry, XAPL has ventured out to offer its services to a wide range of Industries, viz., Telecom, Manufacturing, Learning, Aviation, Fashion, E commerce, Hospitality, Healthcare and many more. XAPL’s key clients include - Genpact, Snapdeal, United Colors of Benetton, HCL Group, India bulls Housing Finance, Spectranet, House of Anita Dongre, Luminous Power Technologies, Havells India,American Tower Corporation,
Vishal Megamart, Vmart Retail, GMR Group and others. Over time, Xestion has carved a niche in this space by helping more than 50 clients achieve the desired results, providing services across India. "With 'Make in India' gathering momentum as well as in light of increased inflow of investments into the country, I see a multidimensional growth potential for GRC space"says Kumar.
The "Journey Vs.Framework" Approach – Governance to Value
In 2016, Xestion got associated with AGN International, the 8th largest Global Accounting & Auditing Network in the world, having presence in 84 countries. This partnership has opened doors to a whole new dimension in terms of credibility and popularity of the brand Xestion. Kumar says “Alliance with AGN International gives the Xestion Brand a great impetus in approaching clients with Global Best Practices and Innovative GRC Solutions. At the same time, this will help Xestion in grooming and retaining top notch talent, which is the key to Client Service Delivery. Also, this platform will help us in delivering cross-border projects through strategic collaborations with other AGN members.”
Xestion seeks to inculcate good governance in business operations thereby enabling the stakeholders to view and appreciate the ‘Value Addition’ brought in by Governance Practices to Business Enterprises
Today, XAPL seeks to inculcate good governance in business operations thereby enabling the stakeholders to view and appreciate the ‘Value Addition’ brought in by Governance Practices to Business Enterprises. Also, Xestion is considered as a preferred choice for corporate houses seeking consulting and advisory services. Further elaborating about the harmonious relationship with the clients, Kumar says “Instead of positioning GRC as a frame work, we at Xestion, position it as a journey since journeys are more Interesting than frameworks. Our Mantra is to take an integrated view of the Client’s Business Objectives, Risks, Opportunities, Strategies, Operating Model & Resources (i.e. People, Process & Technology) and come out with integrated, innovative and impactful solutions. The Journey begins with Client's Business Objectives & Risks, ends at Business KPIs and resumes with New Opportunities & Risks as these are dynamic in nature. In this journey, Xestion also seeks to provide a platform to the deserving professional to showcase and enhance their skills and make this journey more memorable.”
Based in Noida(National Capital Region),Xestion, from a mere 15 member team has grown to 70 member team over the span of four years and is growing at a rapid rate in terms of business generation. Kumar, a staunch believer in technology is working towards introducing new aspects of software applications and automation into the GRC domain. Further, Xestion has ventured into Information Security,Fraud Risk Management, Data Analytics, Control Automation etc.,keeping pace with the regulatory requirements as well as technology evolution. Kumar enthusiastically concludes “Xestion is well on its way to become a 360 degree corporate advisory solution company. That is we will review, advice, hand hold and execute projects as per the needs and requirements of our clients. More than any thing, we will be graduating from a peripheral consulting to a participative consulting role. We seek to lead the shift of focus from RoI (Return on Investment) to VoI (Value of Investment)”