Interim CFO for a Large Indian Corporate

Challenge

• Exit of CFO and Finance Controller during critical time of audit close
• Inability to share the financials to auditors whilst nearing the filing of annual return
• Compelled to seek extension for filing annual return
• ERP system was in a mess with mismatches aplenty
• Use of multiple systems by different teams
• Lack of accountability leading to conflicts
• Multiple product lines and

How we helped

• In-depth assessment of issues of accounting process and ERP design gaps
• Prepared emergency action plan in coordination with the stakeholders
• Coordinated action between plant, HO and ERP team to address the functional and ERP glitches
• Reconciliation between ledgers, sub-ledgers and indirect tax returns
• Hand-holding at bottlenecks
• Coordination with the Statutory Auditor from Big4
• Weekly governance with Senior Management and Directors

Benefits

• Achieved finalization of Financials within record 3 months
• Demonstrated to the management the design issues in ERP
• Suggested measures in the ERP at macro level
• Suggested process corrections to avoid duplicate tasks