CFO Services for a large distributor
Challenge
- Lack of strong finance leadership
- Lack of business forecasts and action plans to achieve management objectives
- No monthly reporting of financials and other MIS
- Low investment in Technology relative to size of organization
- Poor compliance with finance regulations and other allied laws
Recommended Solution
- Setup a strong finance leadership and Second – in – command.
- Strengthened accounting processes to ensure real-time accounting
- Moved organisation to a strong ERP and developed automated BI reports
- Setup an internal audit Framework and arrested inventory management issues
- Arrested compliance issues and set up a monitoring mechanism
- Developed detailed insights into various business segments which in turn lead to developing actionable business plans
- Organised working capital for the Compnay at favorable terms and conditions Regular governance meetings management
Benefits
- Strong business intelligence systems driving day – to – day organizational decisions
- Strong financial leadership and strategic direction
- Completely complaint with all applicable laws with regular audit checks
- Strong foundation for BI through realtime accounting systems
