Re-engineering the Finance and Accounting process for leading garments manufacturer

A leading garments manufacturer and distributor wanted increased transparency into its financials and improve the order to pay cycle for the business. NKRP was engaged to determine root causes of inefficiencies in the process and remediate the gaps.

NKRP conducted an eight-week assessment and concluded that the client’s current technology system was missing relevant data points. This created issues with transparency and missed payments.

NKRP recommended an overhaul of the technology in order to achieve

• Faster Payments to Creditors
• Reduction in Liabilities of the company
• Timely payments of Statutory Liabilities
• Full Control over inventory, control wastage
• 100% expense management
• Periodic audits for comparing financials with actuals

This led to increased transparency and allowed the client to focus on the core business production and sales.