Transforming financial operations for a leading warehousing business

The challenge

Our client is a premier provider of warehousing services delivering advanced infrastructure and tailored solutions that meet the evolving needs of modern businesses in India. With operations spanning across multiple states in India, the client wanted to streamline and centralise their entire accounting and finance function which included 30+ warehousing entities.

This project also encompassed the standardisation of financial reporting processes in Ind-AS and IFRS with different reporting periods, including compliance reporting to investors based in Singapore, ensuring adherence to both domestic and international regulatory expectations

Our solution

We streamlined the delivery of a wide range of services which included accounting (transactional accounting, MIS and financial statements), direct and indirect tax compliance assistance, due diligence support, litigation assistance, and related services for 30+ entities.

All reports and deliverables were submitted to the global parent company and relevant stakeholders in accordance with internally agreed timelines, ensuring accuracy, compliance, and alignment with organisational standards.

An added complexity was the transition between consultants prior to kick-off. Nonetheless, we were able to successfully conclude the process soon, which was made possible by an agile and responsive workforce, a thorough understanding of the business/transition toolkit, and the timely and effective PMO around knowledge transfer from the outgoing consultant.

The outcomes

• A successful transition with appropriately crafted risk mitigation strategies, proactive stakeholder communication, and phased implementation to ensure zero disruptions to ongoing operations and maintaining business governance.
• Seamless integration with the client’s organisation, functioning as one cohesive team. This collaboration enabled the client to maintain a lean finance function by strategically leveraging Deloitte’s expertise and capabilities.
• A strong and robust project management office to efficiently manage all requests across tax and accounting domains, oversee investor reporting mandates and provide strategic support by streamlining the handling of ad hoc and recurring requirements.
• Embarking on a continuous improvement/transformation trajectory, Deloitte has consistently improved the timelines and quality of financial reporting and audit completions with faster turnaround and enhanced accuracy.