The CFO services and performance improvement services provided by Practus assisted the dermatology company in optimizing cash flow monitoring and reducing group monthly reporting timeline consumption by 40%.

Client ROIIndustryOwnershipManagementNo. of EmployeesSizeProject Duration
A Dermatology Company10XPersonal CarePrivateProfessional30$2 million12 months

About The Company

Derma SkinCare is a fully owned Indian subsidiary that distributes approximately 30 skincare products obtained from its  privately held European dermatology-focused parent company. With a group turnover of approximately $790 million, the global brand has been serving skin biology for over 35 years. The organization has been a trailblazer in dermatological care.

Practus’ Role in Finance Transformation

  • Take control of the incumbent accounts team.​
  • Procurement efforts are coordinated with European parents companies.​
  • Take care of the import paperwork and bank accounts.​
  • Assess the profitability and price of products.​
  • Prepare a budget for many scenarios.​
  • Use variance analysis to report month-end earnings and losses.​
  • New GST legislation implemented throughout all of the company’s businesses.​
  • Working capital LC facility.​

Impact Delivered in Finance Transformation

  • By renegotiating the terms of the agreement, we were able to obtain an increased trade discount of $0.16 million from a parent.​
  • Within the ERP system, cost-center accounting was implemented.​
  • Provision of accurate budgets on time as per format. Cascading and monitoring of salespeople’s budgets.​
  • $10,000 in GST credits were discovered to be unutilized.​
  • Devised an altogether new India-wide MIS Framework and reduced group monthly reporting timeline consumption by 40%.​
  • Parental funding remittances and cash flow monitoring have been improved.​
  • An LC facility worth $300,000 was sanctioned and the rate of interest was reduced by 0.5% per annum.

See how Practus can assist you in improving your organization’s Performance