Every successful business has a hidden force that keeps it running smoothly. Beyond the storefronts, boardrooms, and marketing campaigns lies a financial engine that ensures every number aligns, every regulation is met, and every decision is backed by solid data. This quiet powerhouse doesn’t seek the spotlight, yet its influence shapes everything from daily operations to long-term growth. Without it, even the most ambitious ventures can lose momentum.
Kariwala & Co. LLP is one such powerhouse, guided by the leadership of Mr. Manish Todi. The firm stands out for blending deep accounting expertise with a forward-thinking approach that anticipates client needs before they arise. Specializing in serving U.S. CPA firms and businesses, its team combines precision, global standards, and secure technology to deliver results that inspire confidence.
Mr. Manish Todi, a Chartered Accountant (CA), is a key leader within the Kariwala Group, serving as CFO of Kariwala Industries Ltd. and General Manager for US-based Accounting Clients at Kariwala & Co. LLP. With over a decade of financial leadership, he oversees all financial data, bookkeeping, payroll, and accounting operations for US clients, ensuring accuracy and client satisfaction. His prior experience includes senior finance roles at Pidilite Industries Ltd. and Tata Motors, and his ICAI certification, strategic insight, and operational expertise make him instrumental in delivering world-class accounting services and building strong client relationships.
The firm operates under the umbrella of its parent company, Kariwala Industries, and has established itself as a trusted provider of high-quality accounting and financial solutions. The company’s reputation is built on a unique balance between strict financial discipline and a client-first approach that emphasizes operational excellence across international borders.
The firm’s financial strategy is not simply about profitability. For Kariwala & Co., financial sustainability is the invisible framework that supports long-term operational success. This framework extends beyond clients to employees, stakeholders, and the broader business ecosystem.
Pillars of Financial Sustainability
Kariwala & Co. LLP follows a set of core principles that ensure its financial resilience and competitive edge.
1. Strong Financial Discipline and Risk Management
The company applies rigorous budgeting, cash flow forecasting, and resource allocation practices internally, mirroring the same strategies it offers to clients. Proactive risk assessments cover financial, operational, and compliance areas, ensuring stability and preparedness for future challenges.
2. Commitment to High-Quality Solutions
Quality is non-negotiable. The firm invests heavily in skilled accountants who undergo continuous training, particularly in US GAAP standards. Every deliverable passes through multiple review stages to maintain accuracy and build long-term trust with clients.
3. Leveraging Technology for Scalability
Kariwala & Co. uses advanced accounting software, secure cloud platforms, and automated tools to improve accuracy, reduce turnaround times, and provide clients with real-time financial visibility. Technology is integrated not only for efficiency but also for maintaining cost-effectiveness without compromising quality.
4. Responsible Growth and Strategic Expansion
The firm approaches growth with caution and strategy. New services are introduced only after thorough due diligence to ensure alignment with existing strengths and to prevent overextension.
Long-term relationships are at the heart of the business model. Many US CPA clients have remained with the firm for years, expanding the scope of work due to trust in the company’s consistency, confidentiality, and accuracy.
Guardians of Trust and Data
The company adheres strictly to international data security and confidentiality regulations, particularly for its US clients. Full transparency and ethical conduct form a core part of its operations.
1.From Division to Independent Firm
Kariwala & Co. LLP began as a division within Kariwala Industries. In 2013, it became an independent entity through a planned strategic spin-off designed to unlock its full potential. The transition involved meticulous financial planning and a clearly defined capital structure to sustain operations for 18 to 24 months without external investors. Ownership remained fully within the Kariwala group, providing both flexibility and control.
2. Engineering a Seamless Spin-Off
The spin-off required careful handling of transitional costs and shared resources. Legal expenses, supplier renegotiations, transfer pricing arrangements, and the redesign of HR and IT services were all planned in detail. Investments were made in workforce expansion, training in US GAAP, secure office infrastructure, and advanced cybersecurity systems to protect sensitive client data while complying with Indian regulations.
Revenue forecasting was a critical element of the transition plan. The company relied on existing contracts, set conservative targets for new clients, and accounted for seasonal fluctuations such as the US tax season. Foreign exchange risks were managed through partial hedging, forward contracts, and close monitoring of currency movements.
Building Trust and Talent from the Ground Up
Independent governance controls were established from day one. Separate accounting systems, clear approval processes, and regular reviews ensured audit readiness. Competitive pay structures, performance-based bonuses, and defined career growth paths were designed to attract and retain top talent.
1. Financial Leadership in Cross-Border Operations
Financial leadership at Kariwala & Co. serves as the foundation for its cross-border service model. The company combines transactional clarity, through defined KPIs, SLAs, and turnaround times, with transformational practices that empower teams and encourage innovation. Performance metrics include turnaround times, error rates, client satisfaction scores, and employee workload.
2. Operational Excellence and Team Integration
Standard operating procedures are highly detailed, ensuring work is consistent across teams in different locations and aligned with global standards such as US GAAP and IRS regulations. The company uses an internal learning management system for training and has structured integration methods inspired by professional bodies like the AICPA and CIMA. Initiatives include mentoring programs and virtual team interactions to bridge geographical and cultural gaps.
3. Culture of Communication and Cultural Intelligence
With teams operating across time zones and serving clients in diverse markets, communication and cultural intelligence are essential. Kariwala & Co. has built systems and practices that ensure smooth collaboration, respect for different business styles, and consistent delivery of exceptional client service.
4. Overlapping Time Zones and Cultural Intelligence
Kariwala & Co. LLP ensures that its teams maintain overlapping work hours with clients in the United States. This is supported by a multi-level communication plan that includes daily stand-ups, client check-ins twice a week, and strategic reviews held weekly or biweekly. The firm invests heavily in cultural training so that staff can meet US client expectations and adapt to different communication styles. Leaders within the organization develop what is called cultural intelligence, the ability to work effectively across cultures.
5. Protecting Sensitive Financial Data
For Manish, data security is non-negotiable. His company uses multi-factor authentication, encrypted communications, secure VPNs, and strict role-based access controls. Employees undergo quarterly training on data privacy, aligned with global standards such as SOC 2 and ISO 27701. Separation of duties and monthly internal audits add another layer of protection, ensuring client trust remains intact.
6. Leveraging Technology and AI for Efficiency
Technology is deeply embedded in the company’s operations. The team works with platforms like QuickBooks Online, Xero, and Sage, while integrating AI tools for tasks such as invoice processing and bank reconciliations. This automation improves accuracy and frees skilled accountants to focus on advisory work. The staffing model is designed for flexibility, enabling the company to scale with ease. Cost savings from operating in India are reinvested into training, better tools, and enhanced client support.
7. Strategic Positioning in a Competitive Market
Kariwala & Co. LLP competes in a growing and crowded outsourcing market, positioning itself to balance the cost advantages of being in India with premium service quality. Compliance with US regulations, deep domain expertise, and a personalized touch distinguish the firm. Solutions are customized to client sectors, with flexible contracts, strong governance, and real-time dashboards for performance tracking.
8. Embedding Friendliness into the Process
Kariwala & Co. LLP’s training programs go beyond technical skills to cover soft skills and cultural nuances, ensuring that friendliness is embedded in the company culture. Communication is structured through daily huddles, weekly check-ins, monthly strategy sessions, and quarterly business reviews. Overlapping work windows keep all parties connected.
9. Innovation with Financial Discipline
Kariwala & Co. LLP approaches innovation with structure and fiscal responsibility. Each year, a dedicated budget is set aside for technology upgrades, process improvements, and pilot projects. All new ideas pass through evaluation stages that include feasibility studies, pilot tests with clear metrics, and ROI projections. Only initiatives that meet targets are fully implemented. The company tracks results closely and celebrates innovation successes through internal recognition and rewards.
Managing Services and Manufacturing
As CFO of both Kariwala & Co. LLP and Kariwala Industries, Manish navigates two very different business landscapes. Service operations rely on time-based fees and people costs, while manufacturing depends on product sales, materials, and production cycles. Forecasting, working capital management, and risk mitigation strategies differ significantly between the two. Services focus on billable time and client retention, while manufacturing requires inventory management, raw material sourcing, and supply chain stability.
1. Harnessing Kolkata’s Local Strengths
Manish believes that Kolkata offers a unique strategic advantage. The city has a large pool of skilled professionals, many with strong English fluency and a natural aptitude for numbers. The local work ethic emphasizes quality, attention to detail, and relationship building. Cost efficiencies from the region are not used to cut quality but are reinvested into technology, training, and infrastructure, creating a blend of local strengths with global best practices.
2. Blending Local Talent with Global Standards
Kariwala & Co. LLP has built its success on a seamless integration of Kolkata’s deep pool of skilled accounting professionals with rigorous international standards. The organization invests heavily in global accounting software, secure cloud systems, and process automation, enabling smooth collaboration across borders. Tapping into strong local networks, such as the Institute of Chartered Accountants of India (ICAI) and university alumni groups, the firm stays ahead of regulatory changes, talent market trends, and emerging opportunities. These connections also serve as a rich source for recruitment, strengthening the firm’s talent pipeline.
3. Scaling Fast While Preserving a Human Touch
A core challenge for many fast-growing firms is maintaining a personal, client-focused culture. Kariwala & Co. LLP addresses this through a carefully balanced operational model. Standard Operating Procedures (SOPs) streamline routine work, yet they are treated as living documents, updated continually based on client feedback and internal learning. This operational discipline frees staff to focus on consultative, personalized service.
The company operates a hybrid workforce model with modular staffing, cross-trained teams, and overlapping skills, enabling quick scaling without overloading employees. By maintaining a deliberate buffer capacity of 10–15 percent, the firm can accept urgent projects or onboard new clients without compromising service quality or staff morale.
4. Technology as an Enabler of Connection
Technology plays a central role in the firm’s operations, but always with the aim of enhancing human connection. Cloud accounting platforms, AI-powered reconciliation tools, automated dashboards, and CRM systems remove repetitive, low-value tasks, freeing accountants to engage more directly with clients. Clients benefit from both digital self-service portals and direct access to managers and senior accountants, ensuring responsive, personalized interactions.
5. Investing in People Beyond Technical Skills
Kariwala & Co. LLP treats soft skills as vital to its culture. Annual investments in training cover active listening, U.S. business etiquette, empathy, and conflict resolution, alongside advanced technical training. New hires participate in client empathy workshops simulating real-world scenarios, ensuring that courtesy and warmth scale in tandem with the business.
6. Building a Connected, Engaged Workforce
The firm fosters a strong sense of belonging across its distributed workforce through daily huddles, weekly performance updates, and monthly cross-team check-ins. Senior managers also make on-site client visits when possible. Governance systems provide guardrails for growth, with clear escalation paths, risk frameworks, and workload dashboards to identify potential burnout early.
7. Listening Loops that Feed Strategy
Feedback is built into the firm’s operational DNA. Quarterly business reviews with key clients and anonymous internal surveys ensure that insights from both customers and employees influence financial planning. This feedback directly informs hiring decisions, technology investments, and process refinements, ensuring that efficiency translates into better service rather than impersonal transactions.
8. A Collaborative Delivery Model
Kariwala & Co. LLP uses a matrix structure to integrate Chartered Accountants, analysts, and client managers. Clear roles, SOPs, KPIs, and quality checks ensure consistent deliverables. Financial metrics encourage teamwork through balanced scorecards, aligning rewards with shared goals such as client satisfaction, quality of insights, and technical accuracy.
Technology underpins collaboration, with cloud-based project management tools providing real-time visibility across teams. Cross-training fosters mutual understanding between roles, while structured conflict resolution channels keep the focus on delivering value to clients.
9. Presenting a Unified Client Experience
Clients interact with a cohesive team that delivers a clear, unified narrative. Client managers present final deliverables, backed by technical experts ready to join calls if needed. After-action reviews feed directly into training and SOP updates, creating a cycle of continuous improvement. This approach enables fast turnarounds during peak seasons and proactive financial insights for clients.
Strategic Growth with Measured Ambition
Looking ahead three to five years, Kariwala & Co. LLP’s strategic financial goals include expanding into higher-value service lines such as virtual CFO offerings, specialized compliance, and advanced analytics. The firm plans to grow its U.S. presence, targeting mid-tier firms in key states and expanding selectively into Canada and the UK, while maintaining a diversified client base.
1. Technology and Talent for the Future
The organization’s roadmap emphasizes AI-driven reconciliation, predictive cash flow analytics, improved client portals, and scalable delivery models. Plans include launching the Kariwala Finance Academy, partnering with leading universities and CA institutes to develop talent pipelines, create clear career paths, and retain top performers.
2. Scaling with Soul
Even as Kariwala & Co. LLP expands geographically and technologically, its leaders remain committed to the founding values of warmth, responsiveness, and genuine care. Every strategic decision, from adopting next-generation technology to entering new markets, is rooted in the principle of scaling with soul.
Blueprint for Sustainable Outsourcing
Kariwala & Co. has built a financially sustainable, tech-savvy, and deeply client-focused outsourcing operation rooted in Kolkata. The company demonstrates that, even in an industry often perceived as impersonal at scale, it is possible to achieve world-class operational discipline while preserving human connection and trust.
Rather than focusing solely on cost savings, Kariwala & Co. follows a holistic and thoughtful strategy for creating value. This approach blends financial discipline with cutting-edge technology and a people-first culture, driving lasting success. It serves as an example of how combining operational rigor, genuine relationships, and continuous innovation can not only manage growing workloads but also expand real impact.
The philosophy emphasizes that knowledge holds the greatest value when it is truly understood and applied, offering a framework that leaders and professionals can adapt to achieve sustainable growth.
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