Case Study 3
Transforming Finance Function at a multi-brand legacy business
CLIENT ASK
MIS reporting from 20th to 5th of next month
Streamlining various statutory compliances
Closure of financial audits by July (previous year it was Dec)
CHALLENGES
Lack of process documents
Complex landscape with multi-location, multi-brand and multi-ERP
FINNOSIGHTS APPROACH
Studied existing processes
Identified bottlenecks for closure
Suggested alternative mechanism to accelerate the timelines
Conducted workshop with finance team members to own up transformation
Held meetings with auditors to resolve key audit issues and clear roadblocks
RESULTS
Consistent MIS reporting on 5th of every month
Compliance dashboard to stay the course
Statutory audit was signed off by July-end
IMPACT
Ability to control cost and re-work sales target based on actual vs budgeted growth
Bandwidth to scale with growing business volume