Leading Jewelry Company, USA - FNA Outsourcing
 
A Leading Diamonds and Jewelry supplier based out of New York, USA with an Annual Turnover of US$300 Million.
 
Background
 

  • A leading Diamonds & Jewelry Co. in USA finding it tough to maintain it's Leadership Position due to:

 

•  Time consuming non-Core Functions
•  Increased competition
•  Rising Interest Rates
•  Higher Attrition Rates
• Lower Productivity

 

  • They identified non-Core Function F&A as an area consuming too many precious resources such as Time, Money & Knowledge without considerable value addition.

  • They decided to outsource it's F&A Function to India and entrusted this responsibility upon AdComp OneSource, it's F&A Outsourcing Partner .

Objective
 
Improved Profitability with Outsourcing of ALL non-core Functions.
 
Outsourcing Exercise
 
  • AdComp OneSource with its well-defined Outsourcing Methodology, a dedicated Team of Chartered Accountants & Transparent working style initiated a phase-wise migration of this company's F&A Functions in March 2005.
     
  • A Startup Team of just 4 dedicated Members in March 2005 has today crossed the size of 30 Dedicated Members in December 2006.
     
  • 90% of their F&A Functions have been successfully migrated to AdComp OneSource and are being performed by Mumbai Team @99% Accuracy Levels.
     
  • Apart from Basic F&A Functions of this company. like Book-keeping, AdComp OneSource Team in Mumbai also is responsible for
Key Functions such as:
Knowledge Functions
Vertical centric Functions

• A/R, A/P Processing
• AP/AR Reconciliation
• A/R Follow-ups
• Chargeback Management (for US Market)
• Consignment Memo Sales & Returns

•  Sales Analysis
•  Revenue & Profitability Analysis
•  Category Profitability Analysis
•  Product Analysis
•  SKU Contribution Analysis
•  Product Performance Analysis
•  Customer Analysis
•  Customer Spend Analysis
•  Market Basket Analysis
•  Industry Analysis
•  Competitive Intelligence

•  Credit Risk Management
•  Treasury & Risk Management
 
Results
 

  • Real-time Support by 15 dedicated personnel working at USA Eastern Time, addressing their real-time F&A needs. Almost zero turnaround time.

  • Improved chargeback (client’s debit notes) management: - From the time, where chargeback were not crosschecked, the practice is completely revamped by carrying out reconciliations and follow ups with customers. This resulted into chargeback reduction from $2 Million to $300,000 per annum.
     
  • Working Capital Management: Average Overdue Receivables Period reduced from 60 Days to 15 Days thereby resulting in improved Cash-flow with accurate projections provided for their NY Team by AdComp OS Team. This improved working capital cycle and reduced Interest Costs.
 
 
 
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