Client Challenges
- The software consulting firm had a lot of statutory non compliances to begin with.
- The financial team of the company not completely aware of the applicable statutory compliances
- This caused imbalance and auditors were changed twice within the span of 9 months
- Financial operations of the firm failed to impress the foreign parent company
PKC Solutions
PKC deployed complete training for the finance team to understand the different Indian enactments:
- Rectified all the past statutory non compliances with limited damages.
- Further, restructured their accounting system to assure minimum errors in the future.
- Complete handholding to bring back the financial system on track to assure parent company.
- PKC equipped finances with resources to understand IT,GST,TDS etc.,
Results
- PKC dealt with 12 lakhs non compliance liability to ensure maximum savings and saving time for the management in India
- Major reductions in statutory non compliances
- Due to strong and real time accounting system, Management time saved to large extent
