Client Profile
One of the biggest fashion groups with over 6,000 stores worldwide, the client designs and manufactures almost all its products in-house. The group entered the China market in 2005 and operates more than 500 stores in the country today.
Challenges
- The client has to process voluminous invoices and payments for shops in different locations and its e-commerce shop.
- The client needs to reconcile receipts issued to its customers with payment collections.
- As a retail business, the client faced crucial but complicated cost accounting and variance analysis processes.
Our Engagement
- Propose solutions based on an understanding of the company’s operations
- Recruit members for the client’s accounting team
- Team performance management and review
- Propose solutions to support ongoing process improvement efforts
- Provide replacements for accounting team members who left
- On-site support for treasury team
- On-site support for revenue recording and collection team: manual refund
- On-site support for procurement and payment processing team
- Reimbursement of staff travel and entertainment expenses
- Vendor payment
- Payment process review
- On-site support for stock management
- Advisory for workflow standardisation and optimisation
Results
With SBA Stone Forest’s team of 4 professionals providing on-site support and processing about 3,000 documents a month, the client has greatly improved its productivity. By leaving important routine processes to SBA Stone Forest, the client has also been able to focus more on its core business.
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