The cash flow management services provided by Practus assisted the wealth management firm in creating a detailed management MIS.
|Client||ROI||Industry||Ownership||Management||No. of Employees||Size||Project Duration|
|A Wealth Management Company||6x||Financial Services||Private; PE backed||Professional||~110||$20 million||24 months and ongoing|
About The Company
SC Wealth Management is an Indian wealth management firm that has acquired RBS India’s private banking business. With end-to-end wealth management solutions for high-net-worth individuals (HNIs), they aspire to be the most trusted Indian wealth advisor for our clients and partners. The product line offered are – broking, PMS, real estate advisory, distribution of financial instruments, and estate planning.
- Developing the finance framework defining the role and responsibilities of the finance function.
- Developing three policies governing respective areas (revenue policy, governance handbook and trade receivable policy).
- Streamlining the operational systems with finance systems.
- Automation of the employee reimbursement and vendor workflow systems.
- Monthly cost structure reporting.
- Cash flow management.
- SOP documentation.
- Enhancements to finance MIS reporting.
- Set up margin utility mechanism thus released $136,000 of funds hence extending the working capital cap utilizations.
- Practus’ cost savings initiatives resulted in savings of $83,000 per annum i.e. 1.81% of cash burn and 113% of payback.
- Assisted in completing due diligence for funding completed within 6 weeks.
- Developed budgets and business models.
- Created detailed management MIS.