Yair Jacob Porat: Our focus is our clients’ business success
BDO, the world’s fifth-largest consulting and auditing company opened a member firm in Mongolia on January 1, 2013. BDO Mongolia was created by the merger of audit firm “Itgelt Audit”with information technology (IT) and advisory firm “Amar-Incon”.
The co-founder of BDO Mongolia and Amar Incon,Yair Jacob Porat, agreed to an interview about the services that BDO will provide to Mongolia.
Born in Israel, Mr Porat has studied IT, Physics, ERP, E-government and business development and has more than 30 years of experience in providing IT and business development consultancy services. He has worked in Mongolia since 1996 bringing new technologies, providing consultancy and implement wide range of projects.
-What is BDO’s focus?
-BDO International is the fifth-largest audit and consultancy company in the world. The BDO network covers 139 countries and keeps growing around the world, and Mongolia is part of that growth.
BDO Mongolia’s focus is on the businesses in Mongolia both local and international businesses, and also provides services for the government sector.
We are a consultancy company that has national and international experience and knowledge. Our focus is our clients’ business success – that’s our vision.
The Mongolian mining industry is one of the main growth engines, stimulating growth in other industries, including in the service industry. Such services include banks and insurance companies, among others. Companies need to gain the know-how to build up long-term and successful businesses that provide reliable services to the Mongolian citizens. BDO offers high level and unique assistance to businesses and other entities that cover 360 degrees of the business sector.
-How do you see Mongolia’s business sector?
The Mongolian business sector is changing and rapidly growing – becoming more and more international. The decision makers understand that they need to shift and change business behaviors if they are to succeed in the open market. Businesses and enterprises need to gain more management skills, control, and capabilities.
The know-how already exist worldwide, we in BDO, with our local team, have the experience and the knowledge on how to deliver this know-how to our customers. The services include auditing and advisory services such as change management, consultancy on IT and security services. These are essential to companies in Mongolia that need local support.
As my experience in Mongolia extends more than 10 years, I am sure that Mongolia can provide the world with much more than minerals. Other sectors that can be developed include IT services, agriculture products and much more. We need to work in accordance with international standards. This will allow small and medium-sized enterprises in Mongolia to expand and to grow bigger. The economy will grow when you have the required services and infrastructure.
-Will BDO work with the government?
-We are looking forward to working with the government sector and sharing the BDO network’s knowledge and experience with the Mongolian people.I was involved in some parts of government initiatives that were related to the E-government sector. I already shared my ideas with our Mongolian partners and as part of BDO, I will be glad to share my experience with government agencies.
My vision is that the government needs to behave like a big enterprise in which the Prime Minister is the CEO with his Ministers as managers, and the parliament members are the board of directors that represent the shareholders, who are the citizens. The government agencies are like companies that have clients/shareholders: the citizens who pay for the services that are provided by the government. Citizens usually pay tax, such as income tax, and they like to have services in return.
I am sure that it is possible to build a good approach to implement e-government solutions for Mongolia based on international know-how. And implementation can be with the support of local small and medium-sized companies. BDO management looks forward to cooperating with and supporting initiatives like that.
-BDO is the fifth largest consultancy company in the world, what made it want to go to Mongolia?
-What made such a big company to come to Mongolia is the opportunity to contribute to the Mongolian business and government sectors and the market growth in Mongolia. Mongolia of 2013 is not the Mongolia of 1996, when we needed to explain to investors where Mongolia is and had to explain that it is not part of China or Russia.
Today Mongolia is a well-known nation worldwide. Mongolia is becoming international and many other companies that work with BDO around the world would like to have representation in Mongolia. BDO sees opportunities here in Mongolia to provide the services that are already provided in more than 139 countries, and now Mongolia has become part of that network. This will help to enhance the capacity, capability and services that we and other companies provide to the Mongolian market.
-When BDO came to Mongolia, it merged with two companies?
-Yes, BDO merged with Itgelt Audit, which has more than 15 years of auditing experience in Mongolian entities, and Amar-Incon, which is a consultancy group that has offered consultancy and IT services in Mongolia since 2005. They both became part of BDO to provide services to the Mongolian market. We’re going to provide a wide range of services.This will include business advisory, outsourcing, taxing advisory, IT and technology services that will provide reliable services to the local and foreign investment companies that need support here in Mongolia.
BDO Mongolia has experienced local staff and international staff. We are going to focus on some particular international markets that we have experience with. For example, we are going to have a special desk for Israel, because I speak the language and can create the bridge between the local business community and the Israeli business community that are looking for investments and projects worldwide as well as opportunities in Israel. BDO Mongolia will also provide services like that in Russia,China and Japan, as our staffs speak these languages as well.
BDO is a very unique firm in that our services are private and customer-tailored. We listen to our customers, we support, we supply,we focus.
-What can you say about your partners in BDO?
-My BDO Mongolia partners are all Mongolians. I have partnered with some of them for the past eight years. I am happy to cooperate with them and be part of a team that’s going to provide our services to the Mongolian market. My partners have vast experience in the business we work in, both local and international experience. BDO International partners are well known and supportive of BDO Mongolia in all ways, with the goal of establishing a successful service company.
-What will be the main impact of BDO in Mongolia?
-Any international organization coming to Mongolia will have an impact. As more international knowledge transfers to Mongolia and Mongolian employees are involved in the daily management and services, it creates impact. With my long experience in Mongolia I see the impact every day.
My vision, since I began working in Mongolia was, and still is, is to build better international services in Mongolia by providing the necessary training support and opportunities for capable and talented Mongolian employees. I am happy to say that in all the businesses that I managed in Mongolia, 98% of our employees were locals. We train, we support, we create opportunities and we share!
BDO Mongolia’s vision is to provide the best services to our clients, to be close to our customers, to provide services internationally and locally and to listen to our customer and give them the best solutions that we can in the market.
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