The performance improvement services provided by Practus assisted IndEPC in diversifying revenue streams and developing a detailed SOP document.
About The Company
IndEPC Indian company with a global presence and diversified business portfolio in Projects, Products, and High-tech Manufacturing. More than 100 years of legacy, it has strong engineering, project management, and manufacturing infrastructure to undertake projects and supply machinery and equipment, in the fields of Nuclear Power, Aerospace, Missile, Defense, Oil and Gas, Steam generation plants, Independent power projects, Turnkey Cement Plants, Mineral Processing, Bulk Material handling, and Turnkey Sugar plants.
Practus’ Role
- Hiring heads for each division to own accountability.
- Department and Division profitability reporting framework implemented.
- Process Improvements and best practices implementation.
- End-to-End SAP expert who acts as a bridge between IT and user departments.
- Better working cap management, and credit rating improvement.
- Monthly P&L, Balance Sheet, and Cashflow.
- Standard costing in SAP.
- Replaced in 12 months deliverable.
- Incorporated key metrics and deliverables to ensure compliance focus.
Impact Delivered
- The business was EPC focused with skewed margins, Practus advised and got the company to focus on other revenue streams with high-profit margins, thereby diversifying revenue streams.
- Assisted in Master Data setup, reconciled legacy, implementation, and smooth Go-Live of ERP systems within 6 months from the start date.
- By tightly monitoring the performance and forecasting, project cost overruns Practus was able to diligently keep the variance at a minimum.
- Timely submission of MIS reports provided visibility to the board and investors on the true state of business performance of the company.
- Development of a detailed SOP document – the reduced learning curve and improved ease in the delegation of tasks for better performance evaluation.
- Better communication, controls, and performance measurement assisted in increased revenues at par with the Budget Revenue numbers.
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