Page 13 - SKC Newsletter 2020

PERSPECTIVES BY SKC
Case Study
Helping Organisations Through
Data Analytics
While offering its services in the Compliance division, SKC's vision is to “enable organizations make right and timely business decisions through business analytics”. While working even as auditors, the internal goal that we have for clients is to unlock the areas of productivity and chart out ways for organizations to tap on that unutilized potential.
In many such cases, we were able to help organizations improve their business and profitability by adopting simple yet effective data capture and analysis tools. Below is a summary of such success stories:
Industry / Organization
Manufacturing setups in areas of medical devices, control panels, machine tools, and consultancy.
Business challenge
Lack of real time data of inventory, cash flows, debtors and other critical areas. Incorrect data as per books of accounts and data maintained on excel by various
departments.
Problem in Forecasting of revenue and cost mapping, which led to payment of higher than needed advance tax, leading to reduced working capitals.
Mistrust of the founder on the data presented by accounts team, which was hampering
smooth decision making.
Reasons for above challenges
Lack of awareness .
Lack of data capturing processes.
No orientation towards data analysis. Lack of initiative.
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