Practus assisted the E-Commerce company in creating To-Be processes compliant with statutory requirements and providing guidance on industry standards and practices.

Client NameIndustryOwnershipManagementNo. of EmployeesSizeProject Duration
A Shopping Destination For Senior CitizensE-CommercePrivate, PE-BackedProfessionals~125$2.5 million2 Months

About The Company

Shoponix is an Indian startup that aims to help older adults by combining third-party products and services into an easy-to-use omnichannel retail network. Shoponix is India’s first dedicated senior citizen shopping center. They cater to the medical and lifestyle needs of the elderly with a portfolio of thousands of goods, with the goal of making their lives easier and more independent. They currently operate out of a Pune experience zone and an e-commerce platform. They are backed by the RPG Group, which has a market capitalization of $3 billion.​

Practus’ Role

  • Perform a diagnostic investigation focusing on the process mapping exercise and map it on Visio—P2P, order to cash, record to report, statutory compliance, and so on.​
  • Identify bottlenecks in present processes and make recommendations for improvements.​
  • Prepare for the To-Be process and get it signed off.​
  • Make a closing checklist for each month.​
  • An evaluation of the current F&A team to see if the numbers and skill set are enough.​

Impact Delivered

  • To ensure that future penalties for non-compliance are avoided, To-Be processes are compliant with regulatory requirements.​
  • The bifurcation of functions has been cleared, resulting in a greatly enhanced F&A framework for future expansion plans.​
  • The F&A team were taught how to function more efficiently in their respective departments.​
  • The total finance function and related operations can be completed more quickly.​
  • Shared responsibility structures have been abolished, and process ownership has been cleared.​