How we’re enabling
CFOs and Finance Heads
Years
Of working with leading companies lending our expertise to implement best practices in financial reporting and technical accounting.
Clients
To whom we provide a host of bespoke consulting services ranging from Business FP&A advisory, International GAAP implementations & boutique management advisory. We work to build businesses that will thrive for decades.
Transformations
We’ve conducted outcomebased transformations for top corporates pan-India & across the Globe. Whether it’s building world class finance teams, tailor made programs or process implementations, we’re here for you.
Community
Building a thriving finance community that leverages the power of networking, fostering relations between India Inc., industry veterans and leaders of tomorrow – is part of our vision of helping the entire fraternity succeed.
Challenges:
In the initial days of the new IFRS 9 standard, there was a lot of ambiguity surrounding IFRS 9 and ECL was a topic without any guidance.
Solution:
We carried out the entire implementation and impact assessment of IFRS 9 and worked out the ECL modelling for Mashreq and minimized bottom-line impact for the bank.
Challenges:
The voluminous (asset tracking) and complicated (lease accounting as per IFRS 16) nature of the transactions were taking up entire bandwidth of the finance team.
Solution:
We completely automated the lease accounting and fixed assets tagging and tracking by implementing state-of-the-art accounting automation tools for the online marketplace.
Challenges:
The UAE based financial conglomerate was facing a skill-gap in the finance function, because of which capabilities and KPIs of the finance team was being called into question.
Solution:
Created curated and customised finance training modules for the Finance Team across verticals and brought about an outcome-based-approach to training, with a focus on real-world tangible skills.
(( FROM “LIMITEDSCOPE TRAINING” TO SETTING
UP THE ENTIRE SHARED SERVICES FUNCTION ))
Challenges:
Pierian Services onboarded the western world’ biggest e-commerce giant as a client. And they needed help with training the finance shared services to take up the task – a mammoth task to begin with.
Solution:
Our association began with a limited objective of training the finance function but grew tenfold and included setting up the entire processes, systems & recruitment sourcing for a team of 500+ shared services employees in the finance Center of Excellence of the organization. Talk about putting Finance Forward!
Challenges:
Our clients (having a global presence themselves) – witnessed exponential organic growth and were grappling with the accounting, since they did not have the bandwidth to set up a dedicated finance function.
Solution:
For two of our most valued off-shore clients, we began as partners to support with periodic accounting, but transitioned into strategic partners who helped them grow through an effective blend of FP&A and management consulting
Challenges:
Today, Gupshup is a unicorn. Back when our association began (3 years ago), the requirement was to upskill the finance team with an on-premise 2-week IFRS training program.
Solution:
Through demonstrating strong subject matter expertise and the value we bring to the table, the scope of work now includes being their strategic partners in all matters financial reporting – GAAP implementation, SAP migration, technical accounting advisory & IPO readiness.
Challenges:
The client had issued complex financial instruments (compulsorily convertible debentures) which were both redeemable & also had committed coupon payments.
Solution:
Though our engagement was primarily for Ind AS implementation, we went over and above and advised the client regarding how expensive the instrument was turning out for the company. They were newly oriented regarding the factors to think about before issuing such instruments
Challenges:
For HDFC Securities, the engagement was to automate their fixed asset tagging and verification, along with Ind AS implementation. Guess what we found? Their leases did not have a lock-in period at all.
Solution:
Not having a compulsory lock-in period is extremely risky for the lessee!
We went above and beyond the scope of the assignment and because of our subject matter expertise, we were able to advise the client accordingly on this issue.
Challenges:
Transitioning to IND AS was the only thing on the scope. But we ended up improving their PAT and margins by 30 crores! How did we do this?
Solution:
Because of our subject matter expertise in IND AS, we were able to demonstrate that the GAAP justified capitalization of INR 30 crores of intangible assets. This was a perspective that naturally brought a lot of joy to the finance and senior management team!
Challenges:
Both the clients had the scope of IND AS implementation. However, both were uniquely in the position of having to impair intangibles on account of a flawed understanding of the accounting literature.
Solution:
Since we brought in unique subject matter expertise, we were able to prevent the impairment of the intangibles – a decision that was perfectly okay in light of the GAAP requirements. Needless to say, the senior management of both clients were ecstatic!
Challenges:
The client “Product Dossier” wanted to carry out a buy-back and also wanted to issue ESOP to the clients. What started as a general ESOP engagement.
Solution:
Went on to improve their valuation entirely! This was also a perspective uniquely afforded to the client on account of the subject matter experience we bring to the table. This also demonstrates the holistic perspective that is required when it comes to every issue involving financial reporting – which has far-reaching effects on the business! team!
Challenges:
Exponential growth does not wait for you to set up processes and new challenges keep cropping up – especially for the finance team who are sometimes expected to derive business insights posthumously – without any control on process of data collection.
Solution:
India’s growth story is being forged by home- grown companies like Candor Foods and Captain Tractors. But growth cannot happen without understanding how to measure it and setting up processes, and checks & balances before you really fly!
At Biz”finomenal”, we keep a beady eye on the fundamentals and help you understand how to truly achieve “scale”.
Challenges:
Initially the client only engaged us for a US GAAP technical advisory for a 3-month period. During the engagement, we also did a deep-dive into the company financials and realized a fundamental flaw in the business model of the company.
Solution:
A 3-month US GAAP engagement grew into an annual business finance solutions where we are now setting up periodic review systems – all with a focus on scaling the business in the right direction, with the essential finance fundamentals & processes in place.
We walk the talk & help you set up all the building blocks you need to make your business “finomenal”.
Challenges:
55 years old industrial battery manufacturer (Capital Goods) having serviced every major power and allied companies struggling with constant cash flow challenges and repeatedly resorted to bank funding.
Solution:
Identified the major challenge being debtor collection. Modified the working capital policy of the company and profiled the customer for improved collection.
Challenges:
Tissue culture company in the business of selling banana and Papaya sapling, despite unit level profitability unable to understand the reason for losses. Also, lacked data for control and monitoring.
Solution:
Data analysis and regular monitoring of critical business parameter with focus on controlling abnormal loss, helped to improve the sales and profitability by 30%.
Challenges:
Flexo printer manufacturer hitting a turnover of approx. 7 crores unable to improve sales and profitability – on account of lack of FPA visibility.
Solution:
Identified procurement as the bottleneck in operations resulting into a delivery delay. Set the business processes to capture and analysis financial and operational data to control the delivery cycle through vendor consolidation and effective operational policy resulting into improved cash conversion cycle.
