New consulting tech firm opens office in Dubai – News

Uniqus seeks to capitalize on financial and ESG advisory opportunities in UAE

Officials attending the inauguration. —Kareem Dawaba/Khaleej Times

Uniqus Consultech, a technology-enabled global consultancy, opened its Dubai office on Thursday.

The firm was founded by Jamil Khatri, former Global Accounting Advisory Services Leader and member of the KPMG India leadership team, and Sandip Khetan, former EY India Financial Accounting Advisory Services (FAAS) Leader. Uniqus is backed by leading institutional investors, including Silicon Valley-based venture capital firm Nexus, Sorin Investments and a number of private investors.

The firm will provide ESG and accounting and reporting advisory services in three key markets: the US, the Middle East and India.

Speaking to Khaleej Times after the inauguration, Khatri said Uniqus will focus on two key businesses – finance function consulting and ESG climate change consulting. “We step in as advisors whenever the finance function of a business needs help, and we think it’s an evergreen business. Given the regulatory requirements in the deal, the company will need that. As we know, ESG and climate change is the focus of everyone – society, government and companies –,” Khatri said.

Khatri emphasized that the company seeks to make a difference by focusing very deeply on technology. “While skills and people are important, so is having technological solutions to our customers’ problems, which we believe will help us serve our customers in a more holistic way,” he said.

Khatri identified three drivers for the UAE market. “When it comes to ESG, there is a strong awareness in the UAE driven by government policy. We’ve been talking to a lot of the big state-controlled companies. It’s not just about regulation, it’s about really wanting to do the right thing,” he said.

The second driver for the UAE market is the corporate tax laws that are being introduced in the UAE. “This will require companies, especially family businesses, to prepare a lot of financial reporting for the new tax regime. This is a great opportunity for us,” Khatri said.

Third, all companies are looking at productivity automation, which Uniqus believes it is in a strong position to do.

A major problem is that many businesses, such as family-owned businesses, are now planning to expand and consider IPOs. “But their finance function couldn’t support them, so they needed to upgrade,” said Dinesh Jangid, regional managing partner for Uniqus’ Middle East operations.

Sanjay Nayar, chief executive of KKR India and managing partner of venture capital firm Sorin Investments, which has invested in Uniqus, believes it will be a highly scalable business and it will take time for the big four audit firms to grasp new opportunities. “What attracted us was a new company with experienced professionals,” Nayar said.

Vijay Malhotra, former chairman of KPMG in the lower bay area, said: “Unqius focuses on very mature markets in consulting services, accounting and ESG. These two areas are not really deep into the Big Four, so there is huge potential.”