Catapult

30% Cost Savings

A global advertising and marketing services provider wanted to establish a centralized accounting to support it’s global operations and expansion.

Designed and successfully implemented the solution in 3 months. The scope of work included :

Accounts Payable I Accounts Receivable I Payroll: End to end management of the processes, including the exchange of information from onsite to India.
Month close : A complex Revenue Recognition process involving tracking Deferred income, accruals and release to revenue, Bank reconciliation, inter-co reconciliation, VAT returns & other compliance.
Other activities: Treasury management including a weekly cash management system.
Consolidated reporting: Preparation of a comprehensive monthly reporting comprising of:
- Board Pack including budgets vs. actual for the board at individual entity level and consolidated group level.
- Ageing analysis of payables & receivables
- Accruals / Prepayments analysis
- Deferred Income tracker
- P&L and Balance sheet schedules.
Multi-Dimensional Financial book-keeping and analysis:
- Sales Person
- Service Line
- Geography

Reduced costs: Estimated savings of 30%
CFO’s ability to focus on business requirements: Being freed up from daily accounting operations, the CFO was able to focus more on business partnership.
Improved processes: Implemented various processes/templates that ensured improved visibility & granularity, plugging revenue leakages/errors.
Successful remote transition: Our experienced leadership ensured that the transition was carried out remotely without having visited the client site.
Improved analytics: In the process of implementing an online management reporting tool which will enable better analytics by the ability to slice/dice data in an improved manner, online access to reporting templates to all stakeholders, reduced reporting timelines.