The performance improvement services provided by Practus assisted the NGO in implementing the maker-approver mechanism, which eliminated errors and omissions by 100%.
|Client Name||ROI||Industry||Ownership||Management||No. of Employees||Size||Project Duration|
|A Non-Profit Foundation||~8x||Non-Profit||Trust managed by a large diversified conglomerate ||Professional||20||$1.2 billion||4 months|
About The Company
Non-Profit is a foundation run by a large diversified conglomerate. Non-Profit makes grants in healthcare, education, livelihood, and youth empowerment with a presence in 12 states. Practus was invited by the Board of the foundation to mitigate reputational and financial risks arising from non-compliance with regulations.
Practus’ Role in Performance Improvement Services
- Ascertain the applicability of legislations to the foundation across federal, state, and local laws.
- Map recurring and on-off compliance requirements based on the applicability of the legislations.
- Categorize compliances based on risk perception, penalties involved.
Impact Delivered in Performance Improvement Services
- Compliance management was IT-enabled through the implementation of a tool, reducing risks of non-compliance by over 80%.
- Implemented a maker-approver mechanism that eliminated errors and omissions by 100%.
- Compliance calendar helped the client to plan its cash flows, reducing interest costs by ~10%.