Parvez Sultan Rupani, the Chairman of DGTX Holdings, is an accomplished entrepreneur with a proven track record in driving digital transformation. He has consistently been at the forefront of innovation as a leader, contributing significantly to DGTX Holdings’ success and its emergence as a leading player in digital transformation.
Rupani’s vision and ability to anticipate and adapt to new trends have been pivotal in the company’s achievements. The coveted Arabian Best of Best award for digital transformation is a testament to his unwavering dedication and hard work, a great honor.
Rupani’s commitment to delivering innovative solutions to his clients has been unwavering. He has quickly identified trends and opportunities that others might have missed, giving DGTX Holdings an edge over its competitors. The ‘Arabian Best of Best Award’ for digital transformation is a recent accolade bestowed upon him.
This prestigious award is granted to exceptional individuals and organizations that have made significant contributions to the digital transformation industry in the Arabian region. Rupani’s notable achievements in this field have earned him this recognition, highlighting his outstanding contributions and commitment to the industry’s growth and success.
Prior Journey
Having been born in Pakistan, studied in the United States, and lived in Dubai, Rupani has gained diverse and extensive global exposure. He has run several businesses, managing teams of up to 300 or 400 people in various parts of the world, giving him a unique perspective on business mentality and market trends.
Rupani believes this experience has given him an edge in anticipating market shifts and adjusting strategies accordingly. Thanks to his deep understanding of the market pulse, he is confident in his ability to predict future trends and prepare for them proactively.
Rupani moved to the United States after completing high school for higher education. He worked in school stores, gas stations, and other part-time jobs to finance his education. He ventured into entrepreneurship and experienced successes and failures. Through these experiences, Rupani learned valuable lessons and gained the strength to overcome obstacles and setbacks, which he now uses to inspire and mentor others.
In 2009, Rupani relocated to the UAE from Pakistan with his brother and partner, Asif Ahmed, with no established business then. Starting with a small six-person operation, they worked hard to become the number one partner of Etisalat by 2016, earning multiple awards within just a few years. Their team has since grown to over 200 people, and they have developed their own product, DGTX, which Etisalat now sells.
DGTX
DGTX is an acronym for digital taxation, and it was established in response to the introduction of direct taxation in the Middle East three years ago in the form of value-added tax (VAT). The government taxation authority required businesses to have a proper point-of-sale (POS) system to record all sales because there needed to be an existing mechanism. Small businesses in the country were not handling any accounting. The POS system was essential because it allowed the collection of the additional 5% tax that consumers paid. Additionally, a company or person was necessary to calculate the taxes owed and file them properly, keeping archives of all documents for five to ten years. In case of any issues, such as report errors, a tax agent or local lawyer was required to represent the business. All five components were challenging for small businesses to manage, making it difficult to comply with the new taxation laws effectively.
DGTX, which stands for Digital Taxation, recognized the challenges small businesses face in complying with the new taxation laws in the Middle East and offered them a comprehensive solution. For only 500 Dirhams, DGTX offered to handle all aspects of taxation, including providing a point-of-sale system, calculating taxes owed, archiving documents, representing businesses in case of issues, and providing a tax agent.
This service was a significant success, and DGTX registered 16,000 businesses and now serves over 4,000 active customers. However, the challenge of collecting payments remained, which DGTX overcame by partnering with Etisalat, a company with a significant presence in the UAE’s business community, to include the 500 Dirhams in their monthly bills. This partnership provided DGTX with Etisalat’s brand and collection mechanism, making it easier to collect payments. DGTX is certified by the FTA and is gearing up to introduce Corporate Tax in June 2023, where they plan to offer even more services to their customers for the same price. Overall, DGTX’s comprehensive approach to taxation has made compliance easier for small businesses, and its partnership with Etisalat has made payment collection more accessible.
With a customer base of over 4,000 active clients and FTA certification, DGTX is well-positioned to expand its services to corporate taxation, which will be introduced in June 2023. The company aims to target 10,000 customers in this area and has a top-of-the-line infrastructure, software system, and customer service team to provide the best back-office setup.
DGTX was valued at $56 million in 2021 and aims to expand its services beyond tax solutions in the next five years, including data mining and other services. The company plans to expand its reach beyond the UAE to other GCC countries. The ultimate goal is to help businesses grow and succeed by providing them with the tools and expertise they need to comply with regulations and achieve their goals.
Facing Challenges to Becoming a Success Story
Rupani’s biggest challenge has been gaining credibility and making people believe in his vision. Despite having a solid intuition for predicting future trends, making successful decisions, and persuading others to see things, his way has sometimes been challenging. Rupani understands that success often has many fathers. Still, failure is an orphan, meaning people quickly claim credit for success but shy away from taking responsibility for failures. However, he remains committed to his vision and perseveres in making people understand and believe in his ideas, even if it takes time to convince them. Rupani thinks that becoming successful involves making good decisions, which come from experience, including learning from bad choices.
Rupani’s perspective on success is holistic, emphasizing the importance of defining success for oneself and recognizing that success can take many different forms for different people. Additionally, Rupani emphasizes the importance of looking beyond individual companies and investing in industries that have the potential for growth in the future. This requires anticipating and forecasting industry trends, which Rupani sees as a superpower. Ultimately, Rupani believes that while hard work is necessary, success is finally in God’s hands.
Vision For Future
Rupani envisions himself dedicating his time entirely to philanthropic work and aiding others, aiming to empower young individuals by providing them with knowledge, opportunities, and funding to achieve their goals. He seeks to accomplish this within five to ten years and views this as a challenge to overcome. In contrast, Rupani sees his company, DGTX, as a leading taxation firm in the Middle East that caters to large-scale businesses. He foresees DGTX as a cutting-edge company that utilizes data mining to help small and medium enterprises grow. He anticipates that DGTX will become a prominent brand in the market within three to five years, offering high-quality customer service at a reasonable cost, comparable to obtaining a Mercedes for the price of a Suzuki.
Words of Wisdom
Rupani advises emerging leaders to believe in themselves and their vision, even if others doubt them. He encourages taking calculated risks and taking the necessary action to succeed. He emphasizes that knowledge alone is insufficient and action is the key to achieving goals. It’s important to remember that even the wealthiest person in the world was not predicted by their school teacher, emphasizing the need to have faith in oneself and one’s abilities.
Rupani also focuses on the importance of helping others achieve success, a valuable lesson for emerging leaders. It highlights the fact that success is not just about personal gain but also about making a positive impact on others’ lives. By being a leader who empowers and uplifts others, one can create a culture of growth and success that benefits everyone involved.
Moreover, Rupani’s emphasis on the “human touch” is crucial in today’s business world. In a world where technology is rapidly advancing, it is easy to forget the importance of human connection and empathy. However, successful leaders know business is ultimately about building relationships and understanding people’s needs and desires.
Social Media Links:
- https://www.instagram.com/psrupani/
- https://twitter.com/ParvezRupani
- https://www.linkedin.com/in/parvez-sultan-rupani-14738224/
- https://www.facebook.com/ParvezSultanOfficial
Written by Steve Sanchez.
