Practus assisted the FinTech company in setting up the entire finance function and building an in-house finance team.
| Client Name | Industry | Ownership | Management | No. of Employees | ROI On Fee | Size | Project Duration |
| A manufacturer of sleep products | Fintech | Public | Professional | ~50 | 4.6x | ~$3.5 million | 2 Years |
About The Company
TechFin is a new-age technology-led NBFC that is engaged in loan disbursement and investments in India. It is involved in unsecured loans, lending, and allied activities to micro, small, and medium enterprises. TechFin was established in the year 1988. Its mission is to give small businesses access to a holistic support system, through cost-efficient, innovative technology and a committed network of partners.
Practus’ Role
- Managing the CFO function and acting as a finance controller.
- Designing all the financial processes such as the system of disbursement of loans, collection, etc.
- Integrating the finance system with the accounting tool to reduce manual intervention for accounting of the transaction.
- Designing systems and tools for F&A team – P2P (Procure2Pay), fixed asset management.
- Treasury management of ~$36 million.
- Timely completion of audits and quarterly and semi-annual reporting.
- Preparation of 3-year business plan without having previous trends and financials.
Impact Delivered
- End-to-End automation of systems for loan booking, disbursement, and other entries related to business without manual intervention.
- Set up the entire finance function and build an in-house finance team.
- Dashboards automation with Qlik Sense:
- Weekly treasury dashboard.
- Fortnightly dashboard.
- Flash dashboard.
- monthly dashboard.