Our consulting and outsourcing services have developed successful long term relationships with many clients. Here are some of our success stories.
ICTI CARE FOUNDATION
ICTI CARE Foundation is a global non-profit organization dedicated to promote ethical manufacturing, in the form of fair labor treatment, as well as employee health and safety, in the toy industry supply chain, worldwide. The roll-out of the CARE (Caring, Awareness, Responsible, Ethical) Process has initial focus in China, where 80% of the world’s toy volume is manufactured. Its intent is to provide a single, fair, thorough and consistent program to monitor toy factories’ compliance with ICTI’s Code of Business Practices. The organization outsourced its finance and admin functions to us in May 2008.
How We Helped
We provide a full suite of F&A outsourcing services to ICTI CARE Foundation’s HK office including invoice processing, monthly management reporting, budgeting, monthly payroll and time and attendance reporting. Monthly management reports have to be submitted to US office within 10 days of month end. We also act as project manager to assist the company to implement the Enablon Information System, an integrated reporting & management solutions for corporate responsibility, quality, environment, health & safety and corporate governance.
Braloba AG is a Swiss manufacturer of high end watchstraps and their success is due to a total dedication to supreme quality and exclusive design. As the company has been achieving impressive revenue and profit growth, it has expanded its manufacturing base to the PRC. Like many overseas manufacturers operating in China, management attention has to be focused primarily on driving revenue growth and managing the factory operations. As the company grows, management was getting increasingly dissatisfied with the performance of office support functions such as finance and IT systems, especially with regard to timely and accurate monthly financial reporting and factory controls. The decision was made to outsource the finance function in 2008.
How We Helped
Our first priority after assuming responsibility for the finance function in Oct 2008 was a complete revamp of the company’s monthly closing process and management reports with even the COA completed resigned. The revised closing and reporting processes started in Jan 2009 and monthly management reports are now available within 3-4 weeks of month-end, with information formats and comparisons as specified by management from time to time. We also introduced a full bottom-up budgeting process resulting in the introduction of detailed budgetary control for the company’s operations from 2009.