The performance improvement services provided by Practus assisted The Retreat in reducing commission cost to OTA’s at an average of 4% every quarter and developing segment-wise detailed MIS reports for better decision making.
|Client Name||Industry||Ownership||Management||No. of Employees||ROI On Fee||Size||Project Duration|
|The Retreat||Hospitality||Private||Family Managed||~150||6x||~$3.2 million||15 months|
About The Company
The Retreat is one of the most luxurious resorts in Lonavala/Khandala on the Pune-Mumbai highway. The Retreat, which is set amidst mother nature and offers gorgeous views of the famed cliffs of the Western Ghats, has roughly 80 luxurious accommodations. The Retreat has excellent corporate facilities and is a popular site for corporate day picnics, when teams come to enjoy the recreational facilities and go trekking in the surrounding hills.
- Practus was mandated to play the role of an ongoing CFO.
- Initial challenges included the absence of authority matrix for approvals on pricing, communication gap between teams and lack of tracking mechanism.
- ERP implementation- Identified and corrected the segments and source, and developed a tracking mechanism through IDS ERP.
- Sales restructuring – Developed systems and processes for transparency of sales bookings and reduction of revenue leakages.
- Evaluated existing process flaws and correct the same – adapting best practices to assist effective cash flow management.
- Ensured a process for effective communication between Sales and Front Office Departments.
- Ensured local compliances and Implement internal controls in line with company.
- Assisted in the detailed departmental budgeting process and track performance along with detailed MIS reporting to management.
- Better communication, controls and performance measurement assisted in Increased revenues at par with the Budget Revenue numbers.
- Reduced Commission cost to OTA’s at an average of 4% every Quarter.
- Assisted in developing segment-wise detailed MIS reports for better decision making.
- Improved Sales Efficiency and Increased transparency with Improved communication between departments.
- Prompt resolution of Invoice queries resulted in improved collection time – The Day sales outstanding reduced from an average of 12 days to 10 days.