Practus’ Finance Transformation Solutions offered this Pre-school chain better visibility in their business operational parameters, resulting in faster decision-making.
|No. of Employees
|Private, PE Backed
|1000 – 1500
About The Company
Star-School is a pioneer in India’s branded pre-school segment with international standards and is ranked among the top five pre-school chains in the country. The company manages 884 pre-schools in 311 cities on a franchise model. The brand also started the K-12 schools to provide continuity of higher education.
Practus’ Role in Finance Transformation
- To improve the effectiveness of the F&A function, conduct finance transformation to identify gaps and manage project implementation.
- To implement controls at all the levels – transactional, process, ledger, and trial balance.
- To evaluate data integrity and the accounting systems.
- To develop a comprehensive SOP document for the revenue and transactional booking process.
- To create a straightforward month-end closing process to address all areas of concern, including CARO and company law requirements.
- To evaluate the gaps and conduct a one-time master clean-up.
- To create procedures and reports to handle payment tracking and collection.
- To train the F&A team members to run the processes independently.
Impact Delivered in Finance Transformation
- Provided better visibility into the business’ operating parameters, resulting in improved and faster decision-making.
- Assisted in business process improvements and improved the financial reports’ quality, accuracy, and credibility.
- Developed a detailed SOP document– which reduced the learning curve and improved ease in delegating tasks for better performance evaluation
- Created a master data review, assisted in reconciling legacy issues, and completed cleaning up the data and systems.
- Improved control standards dramatically and helped in the recovery of old debtors.
See how Practus can assist you in improving your organization’s Performance
*Client Name has been masked for the purpose of confidentiality