The performance improvement services provided by Practus enabled Kidsgroup to improve technology and process automation on the receivables management which resulted in getting it to the lowest levels in the company’s history.
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About The Company
Kidsgroup is a leading educational services provider in India, Operating a large number of self-operated preschools. Kidsgroup provides pre-primary education and education support services. It also leases education infrastructure and has a presence across 88 cities in India.
- Active fund flow and working capital management across all schools in the company.
- Provide technical accounting support for highly complicated issues involving the parent company and the schools which are running under a trust.
- Draft, review, and implement various high school-related agreements with trusts/ interested parties so that the same conform to the Indian laws.
- Develop and analyze capital acquisition proposals (brownfield and greenfield).
- Implement ERP systems across the chain of schools.
- Assist in substantial cost savings by identifying and applying for tax waivers in electricity/property tax bills.
- Manage day to day financial activities and fund flow management including MIS implementation of the parent entity and the trust.
- Design and implement a web-based ERP to cater to the PAN India operations of the company thereby providing significant improvements to financial management for multi-center accounting and reporting.
- Substantial cost savings (>25%) in the procurement department through innovative improvements in systems and procedures.
- Assisted in getting tax waivers in electricity/property tax bills.
- Improved MIS reports provided better visibility into the operating parameters of the business. Resulting in improved and faster decision making.
- Saved huge sums of money in potential taxes through accounting and tax treatment of inter-group transactions.
- Improved technology and process automation in receivables management resulted in the lowest levels in the company’s history.
- Assisted in listing the company and fast-tracked the entire timespan by more than 10% with the development of compliant systems and improved processes.