CXO Inc. (Now CISCO Systems) develop configurable dashboards for CxOs of various companies, having applications in corporations from varied industries. In order to maintain a low burn rate, Alok Batra, the founder of CXO Inc., wanted to expand the business and set up a major development base in India.
Abhay Patil, the operations head of CXO Systems returned to India and initiated a search to find the right choice, to support their goal of company formation. He researched the precise fit for creating a sustainable back-office that can streamline their business operations in India.
After initial scouting, Abhay Patil got in touch with Remunance. Being the first project, Remunance was confident to set up a strong base for CXO systems in India. With its knowledge of India’s ecosystem and business market, Remunance was well-equipped to connect CXO Systems with the respective authorities.
Earlier in 2004, it was difficult to manage the taxation and bonded office infrastructure compliances. In fact, a foreign subsidiary with 100 per cent export had to be excise bound. Another challenge back in time, especially when the start-up ecosystem was still gaining popularity, was attracting the right talent. After understanding the company goal, Remunance, proposed operations and working of CXO India team out of Remunance’s office for closer coordination.
Following successful subsidiary formation, acquisition of right talent for the position of Technical Head was a pressign concern. Through Remunance’s extensive network, suitable resource was identified and hired.
CXO Inc. was later acquired by CISCO Systems. Abhay Patil effusively praised Remuannce’s strategies and efforts by mentioning “An India strategy is absolutely necessary for a start-up like ours. Remunance’s custom-made business solution, and their wide network was our biggest ally and strength”.