The challenge.
The primary objective of the client was in establishing the “Control Operation” and generation of regular monthly MIS, which details the Operational Highlights along with the Financials.
They were also looking to establish a team, with the objective of ensuring sustainability keeping long term objectives of the business in view.
The Warehouse operation, which was the most critical business area, establishing a control process and Debtors Management were also the prime focus, which the client was looking inputs to streamline. Since the Business Model was successful and the turnover is reasonably good, around 10 Crores per month, management was interested of inputs from CFO centre in regard to areas of operation which extended beyond regular accounting processes.
The approach.
An initial strategic review was undertaken to explore the growth plan for the business and to understand the extent to which the business was operating and working on the expansion of the business.
Working as one team, the CFO and co-founders agreed a detailed plan of action to ensure the business was well prepared.
This action plan was initially focused on upgrading financial reporting, establishment of Controls and Processes so that the business of geared for future expansion and growth of the business.
Based on the type of business and nature of operations, there were few areas which were identified as main areas of focus.
Over the next 24 months the founder worked closely with The CFO Centre and ensured that all Controls and Processes are put in place, systems for Robust MIS were set up and a team was formed to ensure smooth and seamless operations in regards with day to day work. Keeping the future in mind adequate frame work was established to prepare for future Investment.
The CFO Centre’s solutions.
Our Bangalore -based CFO, Rajib Chakraborty was the perfect candidate for this client with experience of retail company of Nike and other multiple new businesses and startups.
Rajib C was able to give the client confidence in the potential of their business, something that was instrumental to them determining the next stage of their journey. He combined his pragmatism and energy to help explore opportunities and goals and, eventually, laid out a structured, step-by-step Process of controls which helped them in growth and expansion of business as well as attracting New Investment.
Bling Brand founders felt reassured throughout the complex process of establishing controls and, a regular MIS with all the desired information.
Bling Brands robust Controls, Processes , MIS and Budgeting was key in helping the investor to complete due diligence and execute the deal in record time. The value we provide to our clients doesn’t always take the form of reports or forecasts, something that was highlighted here as they described their quiet confidence in the knowledge that their historical and projected financial plans were detailed, solid, and ready to be scrutinized.
