The performance improvement services provided by Practus assisted SF Foods in taking business decisions through graphical MIS, Dash Boards, and BI tools and acquiring operating licenses and statutory registrations at the PAN India level within four months.
|No. of Employees
|Private Limited Company
About The Company
SF Foods is a food service and restaurant firm with locations in a variety of cities and formats. It is one of two major franchisees in India for an American fast-food chain that includes Taco Bell, KFC, Pizza Hut, Delifrance, and WingStreet. Sri Lanka Foods recently took over approximately 280 stores in India after a significant private equity fund infusion of capital for a 100 percent stake. Sri Lanka Foods also has operating and development rights in 15 Indian states. SF Food employs over 9,000 people and has a $92 million annual revenue per share.
- Implemented best practices and standard operating procedures (SOPs) across numerous business functions.
- Created approval hierarchies, a new account chart, and masters.
- All banking and Treasury activities were set up.
- Vendor invoice processing, AR processing, project accounting (for new store rollouts), and fixed asset management are all completed processes.
- Initiated several ERP system customizations and automation to provide accurate and timely financial and management reporting.
- Produced a 2016-17 operating budget as well as a mechanism to track actuals against budget.
- Within four months of taking over, the company had obtained operating licenses and statutory registrations across the country.
- Within two months of our engagement, we launched operations across India with an initial 100 outlets.
- Within six months of taking control, best practices and integrated IT systems were adopted.
- After the business was consolidated, SF Foods’ EBITA gradually improved.
- Despite repeated changes in the heritage company/business’s finance team, they managed the complete volume of finance functions and operations.