Jugaad and Compliance: Navigating Offshore Excellence - Day 2 Insights

Hi everyone,

Day 2 of our offshore journey is here, and we're diving into the world of Jugaad - an ingenious approach that's been our secret sauce in getting our feet firmly on the ground in India.

Day 2: Jugaad – The Ultimate Indian Outlier Approach

Jugaad, a term for a way-out innovation or clever "hack," became our guiding principle. It's about finding unconventional solutions to navigate the intricate landscape of offshore operations in India.

But wait, before we even talk about it, could I have done it without someone who knew the ins and outs of it and could lead us with that approach? No. Thus…

The Quest for the Right Leader

Early on, my focus was on finding a leader for our offshore operations. The checklist was clear:

1. Outsourcing Expertise

2. Top-notch Communication Skills

3. International Client Understanding

4. A Network to Build Our Team

5. Fun to Work With - Because Why Not?

Navigating the Compliance Minefield

Setting up and complying with Indian regulations turned out to be a maze of forms and signatures. In the initial months, we faced the bureaucratic challenge head-on.

We even paid our team directly from our UK account while the Indian company setup was underway. It took longer than expected, but the day everything ran like clockwork finally arrived.

India's business landscape proved to be a testing ground, where patience and tenacity were our best tools. However, it’s only in India that we can find solutions to every problem, proving why Indians excel in problem-solving.

4 JugaaD-Inspired Tips to Ease Your Compliance Journey in India

1. Strategic Recruitment: Prioritize candidates with a proven track record in outsourcing, strong communication skills, a grasp of international client needs, a wide professional network, and a positive and collaborative attitude.

2. Navigating Compliance: Be prepared for the bureaucratic intricacies of setting up in India. Approach the compliance process with patience and a meticulous mindset.

3. Alternative Payment Solutions: When faced with delays in setting up local bank accounts, explore options like direct payments from a foreign account to ensure timely team compensation.

4. Jugaad Mindset: Apply fuzzy logic when finding solutions to conventional problems. With a creative approach, you can tackle unexpected challenges and navigate the unique aspects of the Indian business landscape.

What's next? Tomorrow, I’ll discuss People: The backbone of a successful accountancy offshore team,

Visit our website here or Book a call with me if you need help with your own offshoring journey.

Best,

Arun Mehra