The cash flow management services provided by Practus assisted the wealth management firm in creating a detailed management MIS.

Client ROIIndustryOwnershipManagementNo. of EmployeesSizeProject Duration
A Wealth Management Company6xFinancial ServicesPrivate; PE backedProfessional~110$20 million24 months and ongoing

About The Company

  SC Wealth Management is an Indian wealth management firm that has acquired RBS India’s private banking business. With end-to-end wealth management solutions for high-net-worth individuals (HNIs), they aspire to be the most trusted Indian wealth advisor for our clients and partners. The product line offered are – broking, PMS, real estate advisory, distribution of financial instruments, and estate planning.​

Practus’ Role

  • Developing the finance framework defining the role and responsibilities of the finance function.​
  • Developing three policies governing respective areas (revenue policy, governance handbook and trade receivable policy).​
  • Streamlining the operational systems with finance systems.​
  • Automation of the employee reimbursement and vendor workflow systems.​
  • Monthly cost structure reporting.​
  • Cash flow management.​
  • SOP documentation.​
  • Enhancements to finance MIS reporting. 

Impact Delivered

  • Set up margin utility mechanism thus released $136,000 of funds hence extending the working capital cap utilizations.​
  • Practus’ cost savings initiatives resulted in savings of $83,000 per annum i.e. 1.81% of cash burn and 113% of payback.​
  • Assisted in completing due diligence for funding completed within 6 weeks.​
  • Developed budgets and business models.​
  • Created detailed management MIS.