Improving The Livelihoods of Farmers: How A Company From Tamil Nadu Optimized Invoicing Process Contributing to Farmer Sustainability
About the Client
Our client from Madurai, Tamil Nadu, represents the Tamil Nadu Integrated Farmer Producer Company Limited. The objective of the company is to improve farmers’ livelihoods.
Streamlined invoicing and maintaining an efficient book of records was an immediate requirement which led them to Elixr Books.
An association with Elixr Books fostered a productive learning experience for both parties.
Challenges
The primary focus was to provide sustainable living to farmers by improving access to resources, technology and credit. However, managing records, bills, and maintaining accurate data entry became a challenge.
With the implementation of Elixr Books software, streamlined accounting process, automated data entry and precision financial tracking was made easier, resulting in improved efficiency and transparency in managing accounts.
A summary of challenges
- Invoicing management -Heavy paperwork led to inefficient management of distributors’ invoices specifically in streamlining outstanding payments' data
- Client appointed a beginner to maintain accounting processes which required Elixr Books team to train, guide the accountant on effective utilization of our software
- GST filings was another key requirement & the client required help with timely filings
How did Elixr Books asses the problems?
- Elixr Books team analyzed that the client’s administrative expenses & selling expenses were not monitored in a structured way
- Past financial year’s data was maintained in a traditional way which had to be migrated into Elixr Books for automated workflows
- Invoices of distributors needed effective management
- Client’s admin staff required assistance/ guidance in setting up the entire accounting workflow from scratch
- Client was initially dependent on an auditor to do the GST filings. With Elixr Book’s automated & expert GST filings, the process was streamlined, and auditor was also able to access reports within the software itself
Solutions
- Invoicing management
- Income & expense tracking
- Book of accounts maintained
- Comprehensive software training & support provided
- GST filings were conducted
Cross-functional collaboration
With emphasis on post implementation support services, our team trained them on a deeper level by coordinating between the management team and their ground level staff on setting up Elixr Books.
Upon understanding their background on accounting, we gave a tailor-made Customer Journey plan which comprised of assisting them with 1-1 training sessions, video tutorials on the required modules, enabling them to be in control of accounting management when stuck anywhere and take ownership.
- Client's business experienced a significant increase in operational efficiency by 30% upon implementing Elixr Books
- The billing process implemented by Elixr Books facilitated a better customer experience, fostering enhanced customer loyalty
- Optimization of e-Invoicing & e-Way Billing improved cash flow and reduced costly manual errors by 15%
Results
- Increased invoicing efficiency - by 65%
- Saved cost of hiring external auditors - by 50%
- Bookkeeping efficiency enhanced - by 100%
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