Client Challenges
A client engaged in apparel retail business approached PKC with the following issues
- Confined to one location without any growth for more than 30 years
- Very traditional & conventional family owned business
- Lack of concurrence between first & second generation management about future plans
- Inefficient accounting system led to lot of statutory backlogs
PKC Solutions
PKC helped the client with the following solution:
- Acted as a arbitrator to bring concurrence between first and second generation management
- Identified & highlighted potential for business expansion
- Restructured the finance operations with the help of tech savvy solutions
- Helped client to understand the data analytics importance and installed MIS reporting system
- Advised & helped client to start up new ventures
Results
- 1 TO 4 STORES – Opened 3 new stores
- Saved management & employee time on finance operations
- Zero statutory non compliances
- Industry specific KPIs can be measured to gauge the business performance
- Clear & transparent business expansion plan
- Improved business decision making quality
