Practus’ automation solutions enabled the FinTech company to automate end-to-end accounting workflows and provide real-time management dashboards through Qlik Sense.
|Client Name||Industry||Ownership||Management||No. of Employees||ROI On Fee||Size||Project Duration|
|A new-age FinTech company||NBFC||BSE Listed||Professional||50-250||6.4x||<$10 million||16 Months|
About The Company
Empower Tech is a new-age FinTech company aimed to support small and medium enterprises in India, by providing them with access to unsecured credit as well as innovative solutions that assist them in realizing their full potential. Practus has been associated with this company for the last 19 months.
- Set up and managed CFO’s office.
- Ensured LMS was designed to enable finance-related data points and metrics to be pushed in accounting software through API eliminating human intervention.
- Set up CMS facility in such a way that transactions were executed through minimum approval protocols without impacting liquidity.
- Continuously looked and shortlisted investment avenues to ensure budgeted yields are met.
- ALM monitored and ensured adequate liquidity for disbursements.
- Designed 3-year and 5-year business plans.
- Implemented budgeting and MIS framework, coupled with strong budgetary controls over costs and a standard process of monthly variance analysis of actual against budget.
- API-based end-to-end automation of accounting ensured the finance team was geared up to manage the spurt in volume.
- Reporting framework ensured there were no last-minute surprises.
- Multi lever business plan ensured that business team was equipped to independently plan and update multiple variables in the business plan which rolled up to organization plan.
- Real-time management dashboards driven through a Qlik Sense ensured all data points were easily available to stakeholders.