Practus’ finance and accounting services assisted the retailers specializing in home deliveries to improve the inventory turnover ratio.
|Client Name||ROI||Industry||Ownership||Management||No. of Employees||Size||Project Duration|
|Retailers Specializing in Home Deliveries||6x||E-commerce||Private, PE Backed||Professional||200||$1 million||6 Months|
About The Company
FullStop.com was a home-delivery-focused e-commerce and call-center retailer. In 2013, a mid-cap PE fund invested in FullStop.com, and Practus was brought in to give visibility on the company’s growth, put up system and process strategies, and provide visibility on the financial position.
- Setting up the complete finance and accounting process, delegating roles to teams, completing accounting, and directing the function.
- For the Finance team, implement performance measurement mechanisms.
- Across all locations, standard operating procedures for order to cash and procure to pay have been introduced.
- The amount of money spent on online marketing is measured in terms of gross merchandise value (GMV).
- Creating a reporting system for investors that includes operational and financial metrics.
- Weekly visibility on cash burn and inventory (SKU) movement is required.
- To determine the amount of leakage, order-by-order/product-by-product collection reconciliation was ensured.
- To eliminate cash transactions, set up a payment gateway.
- Promotions and cost discounts, as well as non-moving inventory and working capital blockage, were detected. The inventory turnover ratio has improved.
- Strategic choices sharpened the emphasis. GMV and online traction increased as a result of outcome-based marketing spending.
- Investor reporting days have been shortened by ten days.