Cost & Working Capital Optimization
At IRSL, we assist our client management to trim down working capital and improve cash flow, manage risk in their business activities, and control and optimise overheads. We assist management in improving their control over major capital and construction projects, creating more reliable project timelines and reducing avoidable exposure to cost overruns. We assist in the improvement and perfection in the performance of the supply chain through operations process improvements, strategic sourcing strategies, inventory management, contract management and enhancements to working capital.
Definitely you need our service, if your company is experiencing any of the under listed indicators:
· Poorly maintained vendor master file (inactive vendors, duplicates, missing or incorrect data, etc)
· Lack of standardized processes and controls across several business processes like travel and entertainment, purchasing, procurement cards, accounts payable and contract management processes.
· Limited use of integrated system functionality (ERPs – SAP, Oracle, etc)
· Recent staff turnover in AP and/or procurement
· Decentralized accounts payable function
· Recent merger/acquisition
· AP system upgrades or overhauls or multiple AP systems in place.
Companies need to adopt a disciplined approach to maximizing cash flow and managing cost structure on an enterprise wide basis. By doing this, they can emerge even stronger after an economic downturn, with inherent competitive advantages. With a successful approach, a business can achieve:
· Working capital improvements
· Reduced on-hand inventory and carrying costs
· Improved visibility and reporting
· Reduced total cost of ownership for materials and services
· Improved sales and operational planning process effectiveness
· Enhanced master data integrity
· Reduced financial leakage