Client Challenges
- Firm unmindful of actual business profits
- Improper GST implementation led to significant errors and manual work
- Presence of non-value-added activities and double work
- Issue of double payments as major payments was made in cash
- Work burden on the Management to check each transaction
- Absence of an effective reporting system for decision making
PKC Solutions
- Installed best accounting practices to arrive at business profits
- Properly implemented & automated GST and even trained client members
- Integrated the inventory and accounting software to avoid to avoid errors such as work duplication, manual errors etc.,
- Executed management exception rule for effective decision making
- Reduced work burden by segregating petty cash from main cash
- Placed effective controls to avoid double payments
Results
- 50% Reduction of employee time in non-value added activities.
- 60% cash payments were routed through bank.
- Accurate real-time segment-wise profitability was made known.
- Simplified & automated GST return filing process to avail eligibility for GST Input credit.
- Management time saved by delegating work to employees and EOD reporting mechanism
