With headquarters in UAE and a subsidiary in India, the customer offers Information Technology solutions and Professional Consulting Services, across multiple verticals such as Banking & Financial Services, Telecom, Government, Oil & Gas, Logistics, etc

The Problem

The client faced the following challenges:

• The company had a backlog of Compliance for over two quarters, thereby exposing themselves to huge risks, with the potential to impact business and client relations
• Lack of Internal control on financial processes, especially w.r.t to payroll – with major expense head being employee cost
• Lack of visibility of MIS reports to the Management

The Solution

iRAISE took charge of the book keeping, compliance and payroll for this customer and, implemented the below solution

• Quick clearing of compliance backlog
• Streamlining the accounting with Cloud based accounting system
• Setting up process with internal controls in financial management
• Monthly MIS reporting to the Management

The Result

• Risk exposure and potential negative client relations due to noncompliance was removed
• Avoided the possibility of additional cost of penalties due to non-compliance
• Timely reports to the Management for quick decision making