Practus’ CFO Solutions assisted the juice company to Improve the workflow and documentation process completion by more than 35% in the overall department.
|Client Name||ROI||Industry||Ownership||Management||No. of Employees||Size||Project Duration|
|A Healthy Juice Company||3.5x||F&B||VC Backed||Professional||100-150||$4 million||12 months|
About The Company
GoodHealth is a healthy juice startup that was founded in 2013. It is well-established, with commodities available in Mumbai, Pune, Delhi, Bangalore, Chennai, and Hyderabad.
Practus’ Role in CFO Services
- A lack of adequate documentation.
- Difficulties with process control.
- Assume ownership of the accounting, function and lead the accounting staff.
- Closing the books on time and giving the monthly management information.
- Accounting issues from the past.
- The requirement for a fully integrated system.
- Raw materials, packing materials, and finished goods inventory problems, as well as inventory reporting to accounts.
Impact Delivered in CFO Services
- Practus analyzed each area’s and department’s internal processes, found loopholes, and created processes and controls for complicated revenue systems.
- We synchronized the registration and statutory compliance processes for direct and indirect taxes, labor compliance, and other areas.
- The whole department’s workflow and documentation process completion improved by more than 35%.
- A process was implemented across all departments, and an inventory control system was implemented.
- Backlogs were cleared, legacy issues were addressed, and accounts were closed on schedule.
- The usage of monthly MIS with analysis report timing was lowered by 40%.
- SOPs and supporting templates for end-to-end processes implemented were:
- Order to Receipt Sales.
- The Process of Record-to-Report.
- Inventory Control (RM, PM, and FG).
- SOP adoption has improved as a result of cross-functional collaboration.