Under business support services umbrella, Unicus steps in to provide myriad of important functions without disrupting the company’s focus on its core areas of operations. Unicus team consists of in-house staff as well as external advisors assisting for co-ordination with different government agencies. The data compilation, transaction accounting and statutory compliances are all done seamlessly onsite of offsite through drives.
Accounts and HR outsourcing for a Software company
Challenge
- The software company in India supplying services outside had just changed ownership.
- It was on its growth path, however current owners needed to concentrate on better solutions and better marketing strategy.
- They needed expert to take over their HR and accounting hastles.
What we did
- Unicus offered end to end solution from data compilation to computing salaries, resolving employee issues, transaction accounting, payment management and statutory compliances.
- The financial statements were prepared and taxes filed regularly.
- Monthly reporting system was set up in order to provide data to management for decision making.
What we achieved
- It was a single window solution to all its legal, HR, accounting and taxation issues.
- Timely and accurate maintenance of financial and legal data eased the work on the management and it could focus on its core competencies.
IndAS implementation of a German manufacturing subsidiary
Challenge
- The world’s largest manufacturer of construction machinery commenced its India operations in 2013.
- With almost 130 all over the globe, the company insisted that the financial accounts of its Indian arm should adhere to IFRS standards.
- The Indian entity decided to adopt IndAS voluntarily.
- The company needed a consultant who would drive the entire process of IndAS translation.
What we did
- Unicus expert on IndAS carried out following important steps while driving this process –
- 1. Assessment of GAAP differences and analysis of impact of implementation
- 2. Planning and data collection to carry out the transition.
- 3. Conversion working with issue resolution
- 4. Process to be implemented for integration of IFRS into regular accounting
What we achieved
- Impact analysis helped set up expectations at the planning stage.
- Complex accounting issues were resolved and taken care of.
- The entire exercise was completed within timelines set by the management.