Case Study
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Every Flower Supplier company carries out operations as per their business requirements. Usually, a Flower Supplier business involves a huge number of transactions with several vendors. Therefore, clients as such, require an at-par level of security of transactions that is also helpful while importing the data to your accounting software.
Challenges faced :
- Improper Data Management in Accounting Software & no bank reconciliation
- Improper management of work volume
- The client wasn’t aware of the business loss profit ratio
- Poor Data Retrieval of accounting vouchers
- The client was unable to manage routine activities of business-like handling suppliers, managing cash flow positions of the company, chasing customers for payment.
- The client was not aware of his business position
Solutions :
- Mindspace’s team initially studied the process of Bookkeeping and prepared a process flow.
- Mindspace’s team find out discrepancies in his business accounts and make him aware of his current business position.
- Mindspace’s team did improvements to his data to make him aware of his business’s profit and loss ratio.
- Software accuracy – that helped save a tremendous amount of time which would otherwise be spent in reconciling and error-proofing.
- Mindspace’s team optimized all data in client’s Accounting Software
- Mindspace’s team provide up to date progress reports as regularly as the firm requires
- Mindspace’s team organized the scanned data entailing all vendor transactions and customer orders into respective folders as per the client’s SOP.
- The team connected remotely to clients via servers so clients get any time access to their data.
- Overtime processed on time, encouraging employees and Mindspace Team to work without worrying about being compensated.
- Bank Reconciliation has been done and data-optimized in client’s Accounting Software
- Improved overall accounting performance by giving access to high quality and error-free financial data that results in better decision making.
- Ensure that client was happy with the quality of the outputs and reduced costs
