Performance Improvement A Plastic Polymers Manufacturing Company

The performance improvement services provided by Practus assisted the polymers company in establishing a formal mechanism to review weekly monitoring and progress reports on sales, working capital, stock movement to the management.

Client NameROIIndustryOwnershipManagementNo. of EmployeesSizeProject Duration
A Plastic Polymers Manufacturing Company8xChemicalsPrivate; MNCProfessional~3600$270 milion6 months

About The Company

PolySolutions is a $700 million Indian company dealing in plastic polymers manufacturing, based in Vadodara. Practus was tasked with AR reconciliations of 7 years by the CFO.

Practus’ Role in Performance Improvement Services

  • Obtaining large data sets of accounts for all the 7 years from the client and counter-party.
  • Preliminary desktop reconciliation of accounts using spreadsheet utilities.
  • Automatic marking of items which were e-reconciled.
  • Errors and exceptions investigated manually through interactions with accounts team at client and counter-parties.
  • Automated bank reconciliations.
  • Checking of counter-party and client supporting’s on the disputed items and giving our independent view to the CFO and CEO.
  • Sending Weekly reports – indicating progress of transactions reconciled and highlighting Practus’ interventions or decisions required in specific areas during weekly calls.
  • Designed ‘offset’ accounts which allowed tracking of tax, companies act and IFRS depreciation in a single trial balance which made it easy to provide the reconciliation bridge between the profits as per the 3 different books.
  • Improve cash flow management and weed out inefficiencies in the working capital cycle.

Impact Delivered in Performance Improvement Services

  • Practus reconciled $13 million of receivables over 8 customers.
  • The total volume of 100,000 transactions was reconciled.
  • Accounts reconciled over 7 years (the year 2009 – 2016).
  • Created a document to assist and manage the project for the legal process of recovery of dues, which indirectly resulted in ~$270,000 of dues incrementally from the selected customers.
  • Established formal mechanism to review weekly monitoring and progress reports on sales, cash flow, stock movement to the management.
  • Tighter control on procurement of materials, reducing working capital by 10%.

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