Detailed Case Study

Name of Industry- Cotton Textile Brand

 The Client

Cotton Textile Brand

The brand is a full-service eCommerce retailer of textiles that offers a diverse range of textile products. The organization has tied up with eCommerce platforms like Expensify, Amazon, Walmart, Spotify, WePay & more. Being an age-old company, it has a traditional workflow system. Over the last fifteen years, Kari Morales has been working with Cotton Textiles Brand as a General Manager.

The Requirements

The Accounting Process is a vital activity for every business & having a transparent workflow is the need of the hour for the Company. While they managed to have successful collaborations with eCommerce vendors, it was still looking to have an experienced accounting team. Experiencing a high attrition rate, imparting training & investment in resources was becoming a nightmare for Kari Morales! This was putting additional pressure on the existing workforce & the ‘To-Do’ list was going long. Putting together a structured workforce was a nightmare for Kari each year, & that resulted in a delay in service delivery.

The Challenges

Areas affected

• Monthly Bookkeeping
• Reconciliation
• Bi-weekly payroll
• Inventory Control & Management

GFF Provided

The biggest hurdle was to streamline regular accounting operations. GlobalFinFocus assisted the company by providing back-end support that was efficient, cost-effective, & structured. As an outsourced partner, GFF supported the company with experienced resources who knew the process & were quick to bring things under control. Documenting the process & process-centric training was another way to acclimatize the CTB staff with the best practices.

Client Benefit

The CTB team witnessed the biggest turnaround as it started saving $ 30000 each year, alongside constant back-end support from the GFF team. GFF started from scratch & built an effective system & process flow. It also reduced the cost of hiring & training the professionals at the payrolls of the company as GFF provided a competent workforce. Tracking the monthly financial activities alongside sharing the KPI’s with the CTB management helped to showcase their expertise.

Since every standard process was documented, it was quite easy for the CTB staff to perform the tasks as per structure & within the timelines. GFF had the knowledge & exposure of working on various systems that helped to initiate a smooth transition process. The entire task was executed in such a structured way that GFF now offers the Controller Consulting Service and full bookkeeping services to Consolidated Textile Brands.