Background

When entering Kerala with an automobile dealership, a Saudi Arabian Business Conglomerate chose Proaegis as its partner to set up the company, systems, operations, and accounting processes from scratch. The main decision criteria for choosing Proaegis were its comprehensive suite of services and our ability to help automate the finance and operational processes.

Challenges

The challenges the client did not want to deal with while setting up its business presence and gaining market share were:

• Lack of knowledge of local laws and accounting requirements


• Ability to source, hire and retain accounting staff


• The Difficulty of legal and compliance processes

Results

Proaegis team helped establish the company and manage its entire accounting, finance, and tax activities as well as implementing systems and processes to improve efficiency in other core business areas. We had a peak staff of 20 people working on the engagement at one point in time. This helped the company focus on its strategic growth as it grew 10 times over four years timeframe and became the top ten dealership for the brand across India.

During the engagement, Proaegis team implemented SAP Business One accounting system and inventory management system at the dealership. We also implemented Easy Office taxation system and an HR management system. Though outside our scope of work, we went above and beyond to re-define the processes for sales and services to make them more efficient, as part of the process of system implementation.

Our processes of budgeting, cash flow forecasting, and inventory management were well appreciated by the client’s management team. The MIS created by us provided the management with an analysis of business performance and insights. It was the basis to take many crucial business decisions and was used for its discussions with the automobile manufacturer. The automobile manufacturer has recommended our MIS reports to be followed by other dealers for better decision-making. This is a testament to the quality of our team's work and the value it has provided to the company.

Overall, Proaegis has played a crucial role in the growth and success of the company and its ability to make informed business decisions.

"Our Group aims to partner with the best and hence we chose to work with Proaegis for our F&A function. It’s been many years of a great association, where the founders of Proaegis kept their service levels as we navigated from when we started to currently where we are today. They have supported us with cumbersome bookkeeping, multiple taxations, and disciplined MIS."

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