Hyderabad, India – House of Companies is set to shake the foundations of traditional business services, during the India Startup Forum, the 25th of September. Launching its groundbreaking AI-powered corporate platform, House of Companies offers Indian SMEs unprecedented autonomy and cost-effectiveness in their global expansion efforts.
The launch of the Entity Portal represents a significant stride towards making global entrepreneurship more accessible to Indian SMEs, especially those burdened by traditional legal and accounting costs.
The platform’s debut is timely, coinciding with the Indian government’s intensified efforts to bolster the MSME sector. This vital economic segment contributes approximately 33% to India’s GDP and 45% to its manufacturing output. With over 64 million units employing around 110 million people, MSMEs form the cornerstone of India’s market economy and play a crucial role in fostering balanced national development.
Disrupting the Status Quo
House of Companies’ platform represents a paradigm shift in how businesses manage their international operations. By leveraging AI technology, the company is challenging the long-standing reliance on expensive accounting and legal consultants.
“Our AI Accounting module processes 80% of all uploaded data directly into the P&L and Reporting section of our company portal,” says Dennis Vermeulen, co-founder of House of Companies. “This level of automation is set to redefine how businesses handle their financials, significantly reducing the need for traditional accounting services.”
India: The Ideal Launchpad for Innovation
The choice of India as the primary market for this disruptive technology is no coincidence. Indian SMEs are known for their cross-border thinking and strong desire for autonomy in company management. This aligns perfectly with House of Companies’ mission to empower businesses to operate independently, free from the constraints of high consulting fees and dependency on specific agents or accountants.
The platform’s introduction comes at a crucial time when the Indian government is intensifying efforts to boost the MSME sector, which contributes nearly 33% to India’s GDP and 45% to its manufacturing output. With over 64 million units, MSMEs are the backbone of India’s market economy, employing around 110 million people and playing a vital role in balanced national growth.
Local Presence, Global Vision
House of Companies is not just offering a digital solution; it’s investing in India’s future by opening a physical office in the country. The company plans to achieve a staff amount in triple digits within the next 18 months, which aligns perfectly with the government’s focus on job creation and skill development in the tech sector.
Seshadri Vengala, director of House of Companies in the Netherlands, emphasizes the significance of this move: “Our physical presence in India is a testament to our belief in the country’s potential and our commitment to supporting local businesses. We’re integrating this new concept into India’s business ecosystem, offering European market entry and startup visa options through ISF and House of Companies.”
House of Companies is making a bold stride into the Indian market, demonstrating its commitment to global growth and local development. This strategic expansion goes beyond offering digital solutions; it’s a tangible investment in India’s future.
Comprehensive Pan-European Solutions
House of Companies offers a suite of services designed to support Indian SMEs in their European expansion:
- Branch Registration: Streamlined process for establishing a presence across Europe.
- Entrepreneur Residency: Assistance in obtaining residency for business owners.
- Staff Recruitment and Relocation: Support in building and moving teams internationally.
- AI-Driven Accounting: Revolutionary system that automates financial processes.
Empowering SME Independence
The platform’s focus on autonomy resonates strongly with Indian entrepreneurs. By providing tools that allow businesses to manage their European entities for as little as 29 EUR per month, House of Companies is democratizing access to global markets.
“We’re not just offering a service; we’re initiating a movement towards self-reliance in global business operations,” explains Dennis Vermeulen. “Our platform empowers SMEs to take control of their international destiny without being beholden to traditional, often expensive, business service providers.”
AI at the Core of Innovation
At the heart of House of Companies’ disruptive approach is its proprietary AI technology. This advanced system not only handles routine accounting tasks but also provides insights and recommendations typically associated with high-level consulting services.
“Our AI doesn’t just crunch numbers; it understands context, identifies patterns, and offers strategic advice,” says Seshadri Vengala, Chief Technology Officer at House of Companies. “It’s like having a team of expert accountants and business advisors at your fingertips, 24/7.”
A New Era of Global Entrepreneurship
House of Companies argue that AI will significantly change the nature of accounting work, but it won’t entirely eliminate the need for human professionals. Instead, AI is poised to become a powerful assistant, taking on time-consuming, repetitive tasks and allowing accountants to focus on higher-value activities. For instance, AI can help with:
1. Drafting financial reports and related documents
2. Reviewing and summarizing financial statements
3. Conducting research
4. Translating complex ideas into simpler explanations
5. Coding and data analysis
6. Customer service via chatbots
As Dan Black, Global Leader of Talent Attraction & Acquisition at EY, puts it, “The robots are not coming for your jobs. They’re coming for your tasks. And in most cases, they’re coming for tasks that you don’t want to do anyway.”
As traditional accountants and lawyers face the challenge of evolving or becoming obsolete, House of Companies stands at the forefront of a revolution in business services.
The company’s innovative approach not only promises to reduce costs and increase efficiency but also to fundamentally change how businesses think about global operations.
For Indian SMEs looking to break free from the constraints of traditional business services and embrace a future of autonomous, AI-supported global expansion, House of Companies offers a compelling solution.
For more information about House of Companies and its revolutionary services, please visit www.houseofcompanies.io or contact info@houseofcompanies.io
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