About a decade ago, the Indian Microfinance sector has gone through a phase where it suffered a crisis of credibility. This scenario in which the MFIs operated was so out of balance that countless number of austere dictums was imposed on their viabilities. This resulted in the rack and ruin of many such organizations. Discerning this distressing set of affairs, four experts Deepak Alok, Rahul Bist, Rajeev Kumar and Atul decided to start a consultancy firm to succour the MFIs return to their former state. This aspiration incited them to establish Prime M2i Consulting, to provide the best application of modern management principles that enable enterprises and projects enhance their productivity plus status in the market and at the same time achieve their purpose or intentions. “We basically wanted to be a climbing step for all those enterprises that lack economic means. However, our task is to give them a helping hand and take them to the economic main stream,” states Deepak Alok, Founder, Prime M2i Consulting.

Prime M2i Consulting intends to help all the resourceful and potential businesses earn recognition in the mainstream economy

The founders of the company hold great experience and knowledge about this niche domain. They were quite aware of the pronounced opportunities and complications this space comprises of. So, through Prime M2i Consulting they intended to help all the resourceful and potential businesses earn recognition in the mainstream economy by conferring good fiscal and financial solutions. One of its noteworthy services is the Code of Conduct Compliance Assessments. This measure was introduced to analyse if the operating practices observed by the MFIs are similar to the code of conduct observed by the industry. Apart from this, it also renders services like Financial Inclusion, Monitoring and Evaluation,Training and Client Certification. “Using The Code of Conduct Compliance Assessments, we have supported many MFIs and stakeholders. We have successfully helped them expand their profits, services, reaches and presence,” he adds.

Prime M2i Consulting has been availing analytics and technologies to enable the SMEs become more customer centric. It provides methodized training to the

employees which eventually upgrades their proficiencies and engenders services that result into ultimate customer satisfaction. However, before offering any kind of support to its clients, the company makes sure to evaluate and understand their requirements as well. Thus, by reinforcing the MSMEs through its unique solutions,the company has created significant disruption in the market. And ever since its establishment, it has earned to itself much notable achievements. There has been a significant growth in its revenue which can be estimated as 15 to 20 percent each year. As a matter of fact, this growth has empowered the company to the extent that at the present day it has the power to sponsor and support its own ventures. “From a team of four we have increased to a team of 15. They are continuously upgrading their knowledge for generating solutions that could tackle the up to minute challenges that our clients are facing,” he adds.

In the near future, Prime M2i Consulting has planned to further incorporate the potentiality of technology with the prospective of delivering more defined services and solutions to MSMES, SMEs and MFIs. The company is devising M2i training mobile and web applications which it believes is capable of setting new benchmarks in the industry.

“We have decided to use technology to design an application that will handle many of the operational risk management issues faced by the MSMEs,”he concludes.