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Do Consider These 6 Points before You Select an F&A Service Partner

Gone are the days when the Finance function used to be a department of ledgers and a CFO’s responsibility was to just prepare and present financial statements.  The ever-changing business environment warrants that a CFO keeps his/her focus on transforming the finance function into a strategic one.

You can choose to go about it in two ways: Traditional, where you try to do everything in-house such as technology development, process re-engineering, consolidation, etc., in short re-inventing the wheel. The second way to go about it is to outsource it to the people who are doing this for living and are experts in transformational initiatives.

The primary objective of any outsourcing initiative is to redirect the focus of an organization from non-core activities to core business activities. A reliable business partner helps you not only just do that but also transforms these so-called “non-core” activities into strategic initiatives that create value for the organization.

Hence, selecting an apt business partner is as critical as the outsourcing decision in itself and you must look for:

  1. A Stable Management Team: A stable senior leadership is an assurance to a successful outsourcing partnership. Alignment of Vision & Mission of an organization with its services is possible through committed mentors’ thought leadership only.
  2. Experienced Core Team: People with relevant exposure or experience are an important ingredient to the success of any outsourcing initiative. In addition, Use cases are helpful to assess the capability of a potential partner and help you in making your decision more informed.
  3. Future Ready Solutions: It is imperative to think ahead of the curve to keep being relevant in the times to come. Next-generation technologies such as RPA, AI, ML make your process future-ready and your organization future proof.
  4. Data Security: In the current times of rampant cyber-crimes & related incidents, it is of the highest importance that your data and other information is in safe hands. One way to make sure is to also shortlist partners basis the information security standards that they have implemented & are certified of. Another way is to have a personal chat session with the CTO or CIO.
  5. Cost-Effectiveness: Having a business case is one of the most critical pre-requisite of any outsourcing decision, and a potential partner with the technological prowess should have it ready for you.
  6. Testimonials: Secure feedbacks from their existing customers. This will not only build up your confidence but will also demonstrate the capabilities of your potential partner.

You may not get everything best at one shop, but the best rating on the basis of the above parameters your outsourcing objective will lead you to decide your ideal partner. Happy Outsourcing!

Saurav Wadhwa

Co-founder & CEO

Saurav Wadhwa is the Co-founder and CEO of MYND Integrated Solutions. Saurav spearheads the company’s strategic vision—identifying new market opportunities, unfolding product and service catalogues, and driving business expansion across multiple geographies and functions. Saurav brings expertise in business process enablement and is a seasoned expert with over two decades of experience establishing and scaling Shared Services, Process Transformation, and Automation.

Saurav’s leadership and strategy expertise are backed by extensive hands-on involvement in Finance and HR Automation, People and Business Management and Client Relationship Management. Over his career, he has played a pivotal role in accelerating the growth of more than 800 businesses across diverse industries, leveraging innovative automation solutions to streamline operations and reduce costs.

Before becoming CEO, Saurav spent nearly a decade at MYND focusing on finance and accounting outsourcing. His background includes proficiency in major ERP systems like SAP, Oracle, and Great Plains, and he has a proven track record of optimizing global finance operations for domestic and multinational corporations.

Under Saurav’s leadership, MYND Integrated Solutions maintains a forward-thinking culture—prioritizing continuous learning, fostering ethical practices, and embracing next-generation technologies such as RPA and AI-driven analytics. He is committed to strategic partnerships, long-term business development, and stakeholder transparency, ensuring that MYND remains at the forefront of the BPM industry.

A firm believer that “Leadership and Learning are indispensable to each other,” Saurav consistently seeks new ways to evolve MYND’s capabilities and empower clients with best-in-class business process solutions.

Vivek Misra

Founder & Group MD

Vivek is the founder of MYND Integrated Solutions. He is a successful entrepreneur with a strong background in Accounts and Finance. An alumnus of Modern School and Delhi University, Vivek has also undertaken prestigious courses on accountancy with Becker and Business 360 management course with Columbia Business School, US.

Vivek is currently the Founder & Group MD of MYND Integrated Solutions. With over 22 years of experience setting up shared service centres and serving leading companies in the Manufacturing, Services, Retail and Telecom industries, his strong industry focus and client relationships have quickly enabled MYND to build credibility with 500+ clients. MYND has developed a niche in Shared services in India’s Finance and Accounting (FAO) and Human Resources (HR). MYND has also taken Solutions and services to the international space, offering multi-country services on a single platform under his leadership. Vivek has been instrumental in fostering mutually beneficial partnerships with global service providers, immensely benefiting MYND.

Mynd also forayed into a niche Fintech space with the setup of the M1xchange under the auspices of the RBI licence granted to only 3 companies across India. The exchange is changing the traditional field of bill discounting by bringing the entire process online along with the participation of banks through online auctioning.

Sundeep Mohindru

Founder Director

Sundeep initiated Mynd with a small team of just five people in 2002 and has been instrumental in steering it to evolve into a knowledge management company. He has brought about substantial improvements in growth, profitability, and performance, which has helped Mynd achieve remarkable customer, employee and stakeholder satisfaction. He has been involved in creating specialized service delivery models suitable for diverse client needs and has always created a new benchmark for Mynd and its team. Under his leadership, Mynd has developed niche products and implemented them on an all India scale for superior services. Mynd has been servicing a large number of multinational companies in India through its on-shore and off-shore model.

TReDS (Trade Receivable Discounting System) has been nurtured from a concept stage by Sundeep and the Mynd team. M1xchange, Mynd Online National Exchange for Receivables was successfully launched on April 7th, 2017. While spearheading the project, Sundeep and his team have built up the TReDS platform to meet RBI guidelines and enhance the transparency for all stakeholders. This platform and related service has the capability of transforming the way the receivable finance and other supply chain finance solutions are operating currently.

Sundeep is currently focused on providing strategic direction to the company and is working towards achieving high growth for Mynd, which will help in creating the products as per customer needs and increase its top line while maintaining the bottom line. He directly involves, develops, nurtures and manages all key client relationships of Mynd. He has also successfully acquired numerous preferred partners to support Mynd’s technology-based endeavors and scale up its business.

Sundeep has been the on the Board of Directors for many renowned companies. He has played a key role in planning the entry strategy and has set up subsidiaries for many multinational companies in India. In his leadership, Mynd has seen consistent growth at the rate of 20+ % CAGR from the year 2009 onwards. This was primarily because of investing into technology and bringing platform based offering in Accounting and HR domain for the customers.