What if you are paying more than you need to only because of lack of software?
A leading world-renowned sanitaryware company with business operations across the globe faced serious challenges on a daily basis because of a manual legal notice tracking system; with the consequence that they ended up paying millions of dollars in fine and dispute resolution. The business faced huge financial losses, the catch? All completely avoidable!
The entire legal notice tracking management was done in an excel sheet manned by a single person. Understandably, this system was inefficient, time consuming, and heavily labor-intensive.
Anyone who has worked with large data filled excel sheets knows the pain of working with multiple tabs.
They faced several challenges including heavy financial losses, corporate and legal fines, and immense process inefficiencies.
The lack of a centralized repository led to fragmented systems, siloed work culture, and heavily delayed processes, missed hearings, leading to fines and unpleasant repercussions.
Setting the roadmap:
Our team did a thorough analysis of the inefficiencies in the current system.
After taking stock of what the existing systems lacked, we curated a tailor-made tax and legal notice management solution for the client that was configured with the appropriate tools and capabilities to address the unique challenges the client faced.
The business impact:
The business impact, post implementation was massive!
- Post implementation, the client saved more than 1M USD [approximately 40 lakhs INR] annually, 75% time savings and turnaround times reduced by 35%.
- All details, documents, and reports related to notices were maintained, and tracked in one central repository.
- The internal team had complete visibility into all critical information of notices received, approaching due dates, etc, all in one place, leading to expedited process and accurate reporting.
- The management level had access to a powerful dashboard that let them see, track, and manage who worked on what, which legal team was tackling a particular case, leading to better and faster decision making, and optimized resource utilization.
Read the tax and legal notice management case study here: