Practus’ finance transformation services enabled EdTech to evaluate and implement a suitable ERP, reducing data entry time by 30%.

Client NameROIIndustryOwnershipManagementNo. of EmployeesROI On Fee SizeProject Duration
An Edutech Company2.5XEdutechPrivateProfessional302.5x< $1 million6 months

About The Company

Deal EduTech is a hybrid education company that offers education services to graduate and undergraduate students in the fields of management, HR marketing, and finance. As a result of outstanding liabilities and various debtors, the company had a negative operating cash flow.

Practus’ Role in Finance Transformation

  • Finance diagnostic: Prepared books of accounts for the previous financial year with the help of the previous auditor.
  • Compliance diagnostic: Practus assessed the compliance for the entire previous year and presented it to the management, which helped us to ascertain cash outflow for the statutory compliance part.
  • ERP implementation: The ERP accounting system (ZOHO Books) was implemented for day-to-day accounting, and the books for fiscal year 2020-21 were finalized.
  • Preparation of MIS every month: Profit and Loss A/c, cash flow statement and sales tracker with ROI analysis is delivered to management every month.

Impact Delivered in Finance Transformation

  • Rectification of overbooked sales resulted in a reduction of GST liability for FY 2019-20 of ~$8000 .
  • Savings in interest cost due to timely statutory compliances ~$5000.
  • Assistance in timely closure of audit.
  • Evaluation and implementation of suitable ERP, thereby saving 30% time in data entry.
  • Assistance in the appointment of suitable company secretary and other consultants.
  • Delivering monthly MIS on T+7, as compared to T+12, thereby saving 5 days.

See how Practus can assist you in improving your organization’s Performance