Business Situation
A Multi-National Company was engaged in the manufacture of automobiles. The company - with sales offices in 22 locations all over India, which coordinated with its regional distributors - was looking for a system which could centralize the entire accounting function and report on day to day remittances and office expenses.
Challenge
Install a robust system that could handle the challenge of multi locations, coordinate with branch staff, and get the accounting done on a timely schedule.
Our Services and Solution
Team Levare consisted of trained and experienced accounting professionals. We studied the client’s current business processes, identified the various types of transactions, and created a detailed process report, which was vetted by the client.
The process report included:
- Expense statements, along with supporting vouchers, were couriered by each of the branches every week / fortnight, along with the remittance balance statement
- Each statement was serially numbered by the coordinator at HQ and handed over to Team Levare on periodic basis
- The data entry was handled by Levare at their premises
- Entered data was periodically transferred from Levare to the main database of the company
- Levare highlighted 1) expenses that were not part of the company’s accounting policy 2) instances of high outstanding executive expenses
Results and Benefits
- The need for a unique accounts clerk at each of the sales offices to manage tour advances and expenses was eliminated
- The company can concentrate on its core business functions
- The company experienced substantial savings since we eliminated the need to staff an account clerk at each office and company HQ
- No transactional interfaces are required between Levare and any of the regional office staff.
- This created transparency in reporting deviations from policy and unwarranted outstanding expenses
- Regional spending is both disciplined and automatically maintained
- An independent agency, like Levare, now monitors all expenditures
- All sales office accounts are available in time for finalization purposes
Testimonial
“Our experience with LCPL has been excellent and they have been delivering to our satisfaction. Their dedication, sincerity and domain knowledge are of a high order.”
- Director Finance, Auto Compopnent Indian Company
