FINANCE AND ACCOUNTS

OUTSOURCING

Case study showcasing how Mynd Solutions reduced the operational cost for

a large US Multi-National’s manufacturing units

=

1

ClientLarge US Multi-National into the manufacturing of Hermetic Compressors for Air-Conditioning & refrigeration systems with operations spread across two large plants in different parts of the country.

Magnitude of workConsolidated Volume exceeding 10,000 (AR & AP) transactions per month.

Scope of work:Accounts Payable, Accounts Receivables, Help Desk, Vendor Reconciliation, Customer Reconciliation.

Business Problems:

Increased stress on the manufacturing industry due to declining margins and high operational cost1 Non-Linear work load on

teams – resulting in bottlenecks at different stages2

Manual processes leading to loss of time and increasing the chances of human error5

Lack of standardization of processes resulting in delays and expectation/delivery gaps3 Heavy people cost due to

tenuredemployees – Out-pay versus productivity issue4

Compliance:SLA, SOX & Multi-State Taxations

2

Solutions Offered

Business Impact

The first phase of the transformation required the team to understand and consolidate the processes, finding

loopholes, bottlenecks and shortcomings in the process. Once the problems were pin-pointed, technology wasused to make the process faster and more efficient.

Centralized shared service Centre was set-up to minimize the man-power requirements beyond the

key nature of business and automation was introduced in the process flow to reduce the need

of manual intervention & thus reducing the chances of errors and delays.

Better control and visibility for the management through introduction of automated MIS system.

Step 1

Step 2

Through the solutions offered, client achieved a cost reduction of 30% at the TCO level. This was achieved through centralization, reduction in non-value adding activities and introduction of automation.

COST

An age old Fixed cost model was turned into agile variable cost model.

Process was re-engineered to achieve best-possible outputs. A big percentage of fixed costs were

converted to variable costs enabling ease of scaling up and down.Step 3

For more information on how Mynd Solutions can help propel your business on the road to high performance, visit www.myndsolutions.com or connect with our corporate office:

Mynd Solutions Pvt. Ltd.296, Udyog Vihar, Phase-IV, Gurgaon - 122001 Haryana, India Phone: +91-124-4646000 Fax: +91-124-4100395 E-mail: sales@myndsol.com

Get in Touch