Snappy Data’s International Business Expansion

SnappyData, now known as TIBCO Software Inc., is a company that develops software enhancing communication amongst financial markets in real-time without human intervention. The founder of the startup SnappyData company, Sudhir Menon, conceptualized a subsidiary formation plan and desired to build a development center in India.

His intention in this business expansion agenda was clear: to direct all efforts to the core business while handing over all the administrative hassles to an expert agency in India. The company needed to establish operations in India but wanted to avoid the complexities and distractions of managing back-office operations, compliance, and administrative functions that would divert resources from their core technology focus.

Sudhir relied on Remunance again, having earlier worked with Remunance in the capacity of Engineering Director in his previous assignment. SnappyData chose Remunance as their first port of call while entering the Indian market for business expansion because of the confidence and trust their services had built.

Keeping SnappyData's objective in mind, Remunance rolled out a comprehensive array of back-office services including:

- Complete bookkeeping and accounting services

- Audit support and compliance management

- Full payroll management

- Building a chart of accounts tailored to their needs

- Establishing norms for the exchange of information

- Setting up reporting protocols

- Managing all compliance-related details

- Selection and coordination with bankers

- Comprehensive back-office framework setup

The Remunance team took the lead in establishing all administrative and operational foundations, allowing SnappyData to focus entirely on their core technology development.

The partnership with Remunance delivered exceptional results for SnappyData:

- Successfully established a development center in India

- Achieved transparent communication between SnappyData and Remunance

- Completed all tasks on schedule without delays

- Enabled the company to focus entirely on core technology without administrative distractions

- Established a well-structured back-office framework that was acknowledged by authorities

- Successfully cleared all due diligence regulatory paperwork in the first attempt when SnappyData was acquired

- Built a strong operational foundation that supported the company's growth and eventual acquisition

- Maintained continuous compliance and operational excellence throughout the partnership

The success of the collaboration was evident when SnappyData was acquired, and all regulatory paperwork was cleared in the first attempt, demonstrating the quality and compliance of Remunance's framework.