Case Study

KPMG

KPMG India is the Indian member firm of the big 4 accounting firm KPMG international and was established in 1993. KPMG India is one of the leading financial, advisory, assurance and tax services providers in the country. 

Essilor is World Leader in Prescription Glass in Eyewear Glass business and one of the Customers of KPMG.

Essilor India has grown exponentially in India in Organic and Inorganic way of growth by taking over many small companies who are already making their presence felt in many parts of India.

Over a period of time, Essilor India Management was finding it very difficult to consolidate the data across different entitles since each one was having their own way of maintaining their books of accounts.

To overcome this problem and bring in Standardization of Accounts, Controls and Processes to be implemented across all these entities so that the Management will be better access to the information on time Essilor India approached KPMG India.

KPMG India in turn approached Nova Technosys who is the experienced 5 Star Tally Partner to help them to implement the required custom built solution on Tally.

Nova Technosys along with KPMG jointly put in the effort to Standardized their Chart of Accounts with Codes, Re-grouping of Chart of Accounts as per MIS requirements, Merging of Chart of Accounts where required, Cleaning up of Chart Of Accounts, then migrating the Data to reflect the newly implemented Codes to reflect in their Transactions, eliminate the discrepancy between the Ledger Balance and Bills Outstanding

Using Nova Tally, the flagship customized solution from Nova Technosys on Tally.ERP as well as Tally Prime, Implemented Process like, making KYC and KYS mandatory for Customers and Suppliers without which the Transactions will not be allowed in the System, Implementation of Work Flow to control the Transactions / Limits, Linking Purchase Order to Supplier Bills and Tracking the Pending Bills at Purchase Order Level, Linking Sales Order to Customer Invoices and Tracking the Pending Invoices at Sales Order Level, Provision to attach Documents at Master and Transaction Level

Tally was customized to Allocate the expenses incurred against the support cost centers to the Profit Centers at the ratio pre-set in the system to make the month closing process simpler for user and eliminating the manual process in allocation as well as the manual mistakes made due to high pressure during the month end closure

We have also developed Report Generator Tool on Tally which will allow the User to Configure the Profit & Loss Statement (P&L Statement), Balance sheet and other Schedules as per the needs of their Parent Company in their prescribed format as and when required without any manual effort so that the Consolidation at the Parent Company will also happen smoothly

Customized Nova Tally Solution is implemented at 48 Locations across different States in India and these 48 Locations were part of 9 Entities and also implemented the same at the Essilor India Head Office at Bangalore.