Practus’ CFO Solutions assisted the ATMs and POS deployment supplier in developing segment-wise detailed MIS reports for better decision making.
|No. of Employees
|A Supplier Of Quality ATM & POS Deployment
About The Company
NMC Payments is a wholly-owned subsidiary of the MBB Group, Australia. It is headquartered in Bangalore and started operations in India in 2006. NMC is PE-funded and a highly credible supplier of quality ATM and POS deployment and managed service and today owns and operates close to 8,500 POS terminals and over 500 ATMs for respected banks.
Practus’ Role in CFO Services
- Practus was mandated to play the role of an interim controller, after the capital infusion from PE.
- Streamlining the monthly closing process and data entry lags of up to 50 days were initial challenges where Practus stepped in and ensured minimizing the lag period and month closures by the 15th of the subsequent months.
- AR and collections from public sector banks was a challenge wherein Practus built in the process of constant follow-ups and weekly review meetings and assigned collection responsibilities.
- Developed detailed MIS reports for management and investors to get a better view of the operations and the numbers.
- Assisted in professionalizing the pricing policy by benchmarking margins and winning better rates during SLA renewals.
- Ensured local compliances and implemented internal controls in line with group policy.
- Practus assisted in an ERP upgrade project, automating various aspects of revenue recognitions and vendor payments.
- Helped in the creation of an annual operating plan for the business to measure its performance and create a rolling forecast for the balance period.
Impact Delivered in CFO Services
- Streamlined monthly closure process and reduced reporting time and data entry lags to assist in generating MIS reports faster.
- Developed process and responsibility matrix for AR dunning and collections and brought down the DSO by almost more than 32%.
- Assisted in developing segment-wise detailed MIS reports for better decision making.
- Improved pricing policy assisted in winning better rates during SLA renewals.
- The annual operating plan assisted in tracking the business in terms of targets, expenses through allocation and performance measurement.