The finance and accounting outsourcing provided by Practus assisted the application solution firm to allow the stakeholders to streamline their finance department and supported them with factual data acting as an enabler to their decision-making.
|Client||ROI||Industry||Ownership||Management||No. of Employees||Size||Project Duration|
|An Application Solution Provider||4.3x||IT Services||Family Owned||Professional||~200||~$20 million||12 months|
About The Company
CE started in 2003. They work with a single point focus – to help their clients to enhance their operational efficiency. They provide best-of-breed resources, with hands-on experience in JD Edwards and Oracle CX solution portfolio and unmatched expertise in complete application life cycle management.
Practus’ Role in Finance and Accounting Outsourcing
- Practus played the role of a strategic CFO wherein the client was required to transform their current way of bookkeeping and reporting so to foster their growth potential and align their future strategies.
- Practus assisted the company to form a coordinated structure by bringing three different tools together, which are ZOHO, Click Time, and QuickBooks, which indeed helped the company to get a console monitor that enabled them to see a lot of information on a single screen.
- Practus implemented MIS roster every month which included profitability analysis, financial planning and analysis, cost optimization, working capital, and cash flow management, along with their audit and compliance management.
Impact Delivered in Finance and Accounting Outsourcing
- Practus has allowed the stakeholders to streamline their finance department and supported them with factual data acting as an enabler to their decision-making.
- Our recommendations on profitability by project helped them in presales, budgeting, and manpower allocation which led to an increase in their profit margins across various verticals.
- The company had very high account receivables and DSO numbers, Practus backed their sales reps with reports that helped them to develop follow-up routines that eventually generated liquidity in working capital which was nearly 50 percent up-trending.
- Practus has consistently been delivering and ROI of 5x-x for the last 3 quarters for the client.