CEO Insights India

The conventional method of accounting is highly time consuming and prone to human errors. While computers have replaced bahi-kathas, the entire process is still extremely manual and laborious with minimal use of technology. The government has taken steps in also using technology to streamline and simplify the returns filing processes but with increasing complexity, disorganized methods of book keeping, the vast majority of Indian businesses have failed to adopt technology.

While most fintech startups have been focusing on providing solutions in the B2C space Anurag Mohta via his venture RealBooks has introduced a solution that eases the accounting process, makes it more transparent, interactive and ensures businesses get quality information at reasonable costs. His aim is to provide the users the comfort and familiarity of their existing habits but using technology to assist them to save time effort and work with a high degree of accuracy.

Anurag Mohta is a visionary leader and has invested more than 15 years in the field of accounting and its associated verticals. As the world moves toward digitization, Anurag along with his co-founder Neeraj Jain tried to bring the same development in the arena of accounts. Anurag envisioned RealBooks to become a leading global player in its respective domain. This firm currently has a pan-India presence with loyal clients from different parts of the country.

In an exclusive interaction with CEO Insights Magazine, CEO Anurag Mohta shared his professional journey and leadership qualities that he has inculcated from his experience.

Throw some light on the overall functionality of RealBooks in this Digital World?

RealBooks is a cloud-based GST compliant accounting inventory payroll software. This software has been designed to be communicative and collaborative, than working as a standalone software which was always typical of accounting softwares. We’ve built extensive APIs to integrate with multiple software in each area so that the users get a single platform experience. Accounting is actually the core of a company’s existence but is often neglected and maintained on disjointed excel files. With RealBooks we’ve built extensive functionalities with respect to digitization of documents, approval workflows, accounting on the go, multi location and communication via WhatsApp, SMS, Email etc. RealBooks can be used pretty much across the entire spectrum of clients right from the MSME to large scale organizations at a fraction of the cost of what is available in comparison in the market. We do have some modules built specifically for Auto dealerships, Logistics companies Chartered Accountants, etc. but otherwise are quite sector agnostic.

RealBooks is environment friendly, promotes a paper less office and attempts to reduce manual workloads and can handle large data volume which has typically been a challenge with the currently available accounting software.

Another observation we made was that all businesses large and small have accountants whether full time part time, freelancers or outsourcing service providers. Unlike the West, in India, accounting is rarely done by the owners, hence RealBooks has been designed for use by accountants so that they can maintain books of accounts across multiple companies with ease at the same time ensuring the owners of the businesses can track data, raise invoices on their mobile app itself!

Elucidate your learning and experience that you derived from IIM Lucknow and How you apply them in your current role?
I think my IIM journey has shaped me to be a good leader. Apart from teaching and learning there lies thousands of things that influence

you, motivate you,and inculcate discipline in you at every step of your life. The diversified people at IIM, and faculties from different parts of the world had a positive impact on me, and that collectively contributed to the position I hold in my professional venture. I think the friendships I made I shall cherish for a lifetime, but that apart it gave me access to an unparalleled network that gave me the confidence to start this venture. Speaking and learning from so many starup founders, particularly from my batch, a lot of whom are my clients now, has made this journey much smoother!

Elucidate your learning and experience that you derived from IIM Lucknow and How you apply them in your current role?
I think my IIM journey has shaped me to be a good leader. Apart from teaching and learning there lies thousands of things that influence you, motivate you,and inculcate discipline in you at every step of your life. The diversified people at IIM, and faculties from different parts of the world had a positive impact on me, and that collectively contributed to the position I hold in my professional venture. I think the friendships I made I shall cherish for a lifetime, but that apart it gave me access to an unparalleled network that gave me the confidence to start this venture. Speaking and learning from so many starup founders, particularly from my batch, a lot of whom are my clients now, has made this journey much smoother!

The experience has also helped me create a conducive work environment allowing us to build a stable and progressive team.

Anurag Mohta, Co-Founder and CEO, RealBooks
Anurag Mohta graduated from IIM Lucknow with an abundance of understanding of the nuancesof accounting and its subdivisions. Anurag has a wide variety of experience in the field of global banking systems and has more than 5 years of experience in Investment banking and trading derivates in London and Mumbai with HSBC and Deutsche Bank.

Hobbies: Travel, Golf, Outdoor activities
Favorite Cuisine: Oriental, Mediterranean, Italian
Favorite Book:Atomic Habits by James Clear
Favorite Travel Destination: Spain