One Software, One Team & Multi-Country Accounting With Finac

Customer Success Stories

One Software, One Team
Multi-Country Accounting with Finac

In today’s fast-paced business environment, adaptability and efficiency are paramount for any organization striving to thrive on a global scale.

❝ One of our clients, a prominent USA-based market research company, transformed its financial operations with the help of Akssai’s Finac accounting software, uniting its USA and India branches under one streamlined system.❞

The Challenge: Broken Finance Operations

Before using Finac, our client’s USA and India branches were operating independently in terms of accounting and finance. Each location was using a separate accounting software, which led to numerous challenges:

1. Different Financial Systems: Managing finances in two different software platforms proved time-consuming.

2. Redundant Work: Duplication of efforts was a common issue. The finance teams in both locations were tasked with reconciling financial data manually, leading to errors and inefficiencies.

3. Compliance Complexities: Complying with the distinct taxation and compliance regulations in both the USA and India was a significant challenge, requiring dedicated teams at each location.

4. Communication Barriers: Different financial systems hindered effective communication between the two branches, leading to misalignment and operational inefficiencies.

We understand the pain points that businesses face when dealing with fragmented financial operations. Finac was designed with the aim of providing a unified solution that streamlines processes, enhances accuracy, and simplifies compliance. Our mission is to empower businesses to focus on growth, rather than getting burdened by administrative hassles.

Lokesh Jain, CTO - AKSSAI ProjExel Pvt. Ltd.

The Solution: Unifying with Finac

Recognizing the need for a cohesive financial solution, our client turned to Akssai and started using the Finac accounting software. Finac’s integrated approach allowed the client to unify their financial operations, creating a seamless experience for their finance teams across the USA and India.

1. A Single, Unified Platform: With Finac, our client could consolidate their financial data into a single platform accessible to both branches, eliminating the need for separate systems in different countries.

2. Effortless Compliance: The software’s built-in capabilities for GST returns, corporate tax calculations, and compliance management simplified the process of adhering to the intricate regulations in both countries.

3. Streamlined Invoicing: Finac’s invoicing features made it easy for the client to create and manage invoices, reducing administrative overhead and ensuring prompt payments from clients.

4. Enhanced Communication: Finac’s collaborative features allowed for seamless communication between the USA and India teams, enabling real-time data sharing and collaboration.

The Impact: A Systematic Finance Operation

The adoption of Finac brought about a big change in our client’s financial operations. Here are the key outcomes:

1. Cost Savings: By consolidating their financial systems and reducing the need for redundant finance teams, our client experienced significant cost savings.

2. Improved Accuracy: The risk of errors in financial reporting was drastically reduced, due to Finac’s automation and data accuracy features.

3. Compliance Confidence: Our client could navigate the complex tax and compliance requirements in both the USA and India, knowing that Finac had them covered.

4. Enhanced Efficiency: Tasks that once required hours of manual effort were streamlined, allowing the finance team to focus on strategic initiatives.

5. Better Decision-Making: With access to real-time financial data and insights, our client’s leadership team could make informed decisions quickly, leading to more agility in responding to market dynamics.

The CFO of the market research company shared her thoughts on their journey with Finac: "Before we implemented Finac, managing our finances across two countries was getting difficult and the risk of non-compliance was a constant worry. But with Finac, things became easier and more efficient. Now, we have one unified team handling our finances, and we can confidently handle taxation and compliance in both the USA and India. It's not just software; it's a partner that's helping us grow and thrive."

Sustaining Success: The Journey Forward

As our client continues to leverage the benefits of Finac, they are actively exploring new opportunities to optimize their financial operations further.

1. Scalability: With the groundwork laid by Finac, our client is now well-prepared to scale their operations globally. The ease of adding new branches and regions into the unified financial system ensures that expansion is a manageable prospect.

2. Advanced Reporting: Finac’s reporting and analytics capabilities provide our client with deep insights into their financial performance. With this data, they can make informed strategic decisions to enhance profitability and efficiency.

3. Regulatory Updates: With Finac’s commitment to staying up-to-date with the latest regulatory changes in both the USA and India, our clients can rest assured that they are always in compliance, regardless of how the tax and regulatory landscape may evolve.

The Impact: A Systematic Finance Operation

The experience of our client with Finac illustrates the power of partnerships in achieving transformative results. Beyond just being a software provider, Akssai has become a trusted partner.

The CEO of the market research company reflects on their ongoing partnership with Akssai: "Our journey with Akssai has been great. They didn't just provide us with a software solution; they empowered us with the tools and knowledge to transform our finance operations. The ongoing support and commitment from Akssai's team have made all the difference. As we set our sights on new horizons, we do so with the confidence that Akssai will continue to be our partner in success."

Uniting Finance for Growth

Akssai’s Finac accounting software played an important role in bringing our client’s USA and India branches together, fostering collaboration, efficiency, and compliance. By uniting their financial operations into one software, it became possible for just one team to oversee the finances of different countries, making our client well-equipped to expand their global footprint.

In today’s interconnected world, Finac has proven to be an indispensable tool for businesses seeking to streamline and unite all their financial operations in one place, reduce costs, and navigate complex international regulations. Our client’s experience is a testament to the capabilities of Akssai’s solutions in the areas of consulting, IT, and financial services.

At Akssai, we understand that every business is unique, and our commitment to providing tailored solutions remains unwavering. Our partnership with this market research company exemplifies our dedication to helping businesses of all sizes and industries thrive in an increasingly globalized and interconnected world.