Finsmart Enhances Accounting Efficiency of Leading Indian Telco

Finsmart Enhances Accounting Efficiency of Leading Indian Telco

Client : Idea Cellular (later merged with Vodafone India)

Industry : Telecommunications

Products and Services : Network provider offering 2G, 3G and 4G connectivity

Market : Pan-India

Challenges in Processing High Day-to-Day Sales Volumes

With rapid growth in subscribers and sales, the accounting function of Idea Cellular was challenged in processing the data in a timely manner. Sales entries were generated via outlets spread across the length and breadth of the country, and these needed to be updated in the Oracle ERP system on a daily basis. There was a mismatch between the volume of sales entries and the capabilities of the accounting function, leading to backlogs and delays in updates of sales receipts. Furthermore, there was pressure from the company’s board to achieve real-time updates of data to enable meaningful evaluations of the company’s financial health and cash flow requirements.

Revamping the AR Function

We were appointed to review the accounting function, and to establish new streamlined processes with higher efficiency. We discovered that the inputs were largely manual in nature and that the high volume of transactions translated to highly labor-intensive work. The CPA firm has been our customer for more than five years now. Outsourcing bookkeeping helped them to leverage their in-house resources for value-added services including accounting and tax advisory. The firm could channel its energy towards adding more clients, while we serve as their backend to effectively deliver bookkeeping services.

We were able to leverage our technology expertise to deploy automation solutions that accelerated the processes. We also deployed a team of ten members who were able to implement the necessary changes to achieve daily updates on Oracle of prepaid and postpaid connections across Maharashtra and Goa, in spite of the staggering volumes involved.

Business Benefits

  • We established processes that brought them to the speed of getting the daily sales updated on the Oracle platform
  • Real-time updates ensured accurate visibility of data and enabled forecasting and evaluation by senior management
  • Efficiency in AR operations was improved by 80%
  • Improved accuracy resulted in a decline of customer complaints by 50%
  • Real-time accounting helped them to pluck the revenue leakages in terms of reconciling the sim cards inventory on day-to-day basis
Have Questions?

FAQ'S

How does Outsourced Accounting work with Finsmart Solutions?

With new technology, working as your virtual/outsourced accountant/partner has become simple. You can opt for any of the following delivery models: Remote, Visit Based Or Dedicated Resource and we would be able to customize the solution accordingly. Our team is well trained to work on the accounting software of your preference ensure deliveries are met as per the set date plans.

What time zone you work in?

We have the flexibility to work in any time zone as preferred by the client, be it real-time, overlapping time or offshore time.

What is your cancellation policy? What if I prepaid for the year?

We want you to work with Finsmart Solutions because you’re happy with the service, not because you signed a contract. You can cancel anytime with one month notice period

Can I speak to someone who has or is working with you?

Yes of course! We want you to be sure that you are making right decision by choosing us and hence we would be glad to share our references with whom we are working with.
However this can be done post our initial discussions about your service requirements and our proposed service offering.

Let us do your books so you can run your business.

Contact us today to learn more

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    Electronica Finsmart Solutions Pvt. Ltd.
    1, Mandakini, S.No. 64/24,
    Income Tax Office Lane, Erandwane,
    Pune, Maharashtra -411004 INDIA.
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