Manufacturing Industry Enhances Bookkeeping Efficiency & Streamlines Invoicing for International Clients
About the Client
Sri Raghavendra Indian Hair Exports is a global supplier of human hair extensions. They ethically source raw human hair and manufacture them into quality hair extensions and other wide range of products.
Challenges
Efficient management of multi-currency billing as they had an international clientele, invoice management for exports and imports, and automated bookkeeping were urgent demands.
Manual book of records led to bad bookkeeping
Lack of efficient accounting within client’s team
Lack of diverse workflows for exports/ imports invoicing
No multi-currency management
How did Elixr Books asses the problems?
- Our team analyzed they required a billing software to calculate different currencies. Also, since they did both exports and imports, two different invoicing processes to streamline them individually was another requirement.
- Learn how Elixr Books provided strategic solutions to all the above, increased their cash flow with better bookkeeping and achieved key milestones along the way...
Solutions
- Cut down on manual data entry that led to errors & inaccuracies
- Rapid, easy & automated bookkeeping
- Segregated the exports invoices & imports invoices as two different workflows for improved efficiency
- Multi-currency option enabled to process billing for different currencies
- e-Way Billing & e-Invoicing were other significant deliverables
Current support services
- Project healthchecks are conducted
- Proactive communication at every stage
- Dedicated accountant provided
- Evaluation of data reports done by the accountant assigned
Results
- 30% cash flow increase due to accurate bookkeeping
- 100% increase in invoicing efficiency
Success Story
Managing international clients’ finances smoothly, segregating exports and imports invoices into two different categories for improved invoice management and automating their book of records were the milestones delivered.
In addition, a personalized approach for a niche industry like the Human Hair industry, made it an enriching collaboration.
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