About the Client
Client is an online platform that makes planning air travel as easy as possible with its tools, affordable pricing options, and clear information. Search ⇒ filter ⇒ sort & compare flight offers from hundreds of airlines at once.
Data and Software
FinLead was required to work on their server’s, using virtual private network. Data was maintained in oneC software.
Initial Analysis and Problems faced
Air travel tech company was growing very fast. Company was growing at 200% YoY basis putting a strain on existing finance team. Company management was facing resource shortage issue especially during peak seasons. Finance processes were not very well defined and errors were also noted at times. They had approached to solve the accounting related issues they were facing.
We did the following
a) Defined policy for various areas including receivable and payable management
b) Reconciliation of bank account was monitored tightly
c) Monthly MIS reports were generated.
d) Additional finance persons was deployed in the team at lower cost during seasonal times
e) Monthly financial statements including the BS and P&L account were prepared. Proper reporting to Key Managerial Persons were designed for efficiency and effectiveness in decision make.
Overall cost at individual level had got reduced substantially by 50% and our team functioned as an extended office of the Air Travel company which was acquired subsequent by a air travel industry giant.