Practus’ CFO solutions assisted EON in improving risk management and internal control standards compliance.
| Client Name | Industry | Ownership | Management | No. of Employees | ROI On Fee | Size | Project Duration |
| EON | Finance | PE | Professional | ~3500 | 6.7x | $34 billion | 12 months |
About The Company
EON investments is a US-headquartered, leading global private equity fund with more than 2,000 employees and over 20 offices worldwide and a global asset management portfolio worth more than $350 billion. The company has invested more than $6 billion in India itself. It has a team of over 30 private equity and real estate investment professionals in its office in Mumbai.
Practus’ Role
- Practus needs to play the role of an ‘interim controller’ for 6 months and report to Asia Pacific CFO based in Hong Kong.
- Managing the financial processes and control environment while overseeing AP and cash management.
- Enforcing compliance with corporate governance around the engagement.
- Managing the monthly financial closing process in the Oracle E‐business suite’s general ledger system in conjunction with finance teams around the world.
- Contributing to quarterly US GAAP disclosure statements for BX’s SEC reporting requirements along with statutory, regulatory, and tax reporting obligations.
- Working with outside advisors and regional management to ensure the continued pace of an ongoing restructuring of legal entities in India.
- Preparing monthly analysis of financial trend reports and responding to ad‐hoc financial and tax inquiries from regional and international management.
- Keeping international finance and tax management abreast of regulatory/tax developments in India.
Impact Delivered
- Provided visibility to the regional and global team on the state of operations and business performance of the organization and its portfolio companies in India.
- Practus ensured that statutory compliances and regulatory/tax reporting requirements were met on time.
- Improved risk management and internal control standards compliance
- Adaptation to Oracle E-business suite assisted in working in conjunction with the F&A team around the world.