The Green corridor is a fruit retailer where they currently service about 10 outlets in Singapore.
Zephyr’s Expert Accounting Solution
Zephyr the top accounting services company in Singapore was called and the team leader was Constance. Zephyr looked into the profit margin and it seemed to be on the low end. They were not able to cover their operational expenses.
Zephyr accounting firm scrutinised their Gross Profit of the past six months (due to lack of data since it is a relatively young firm) and come out a GP margin for them. Zephyr together with the team conducted a site survey and found it to be competitive. They then introduced the new GP margin and after 3 months it started to show profit in their p/l accounts.
The internal control on inventories was found to be lacking at The Green Corridor. Zephyr advocated the idea of Bin Rack Shelf and packing list to the organisation. They started working on it and this had ensured all goods packed are accurate.
The accounting function was incapable. There seems to have a fair bit of missing documents such as missing payment vouchers with no supporting documents. Their financial practices were not well placed and a lot of accounting procedures were not done correctly.
Delivered Business Results
Zephyr introduced internal control in the organisation and much improvement had been seen. Now the accounts personnel at Green Corridor can easily trace the documents they need to manage their P/L accounts and the trouble of dispatching wrong items is totally rectified.