Client Profile:
A listed beverage manufacturing company in the alcobev sector, operating pan-India with a network of bottling units and distributors
(Annual revenue: ~$144 million USD)
Engagement Objective:
The company sought an independent review of its Internal Financial Controls (IFC) framework and business processes to strengthen governance, improve operational efficiency, and align internal systems with future growth plans.
CFO Pulse Approach:
🔍 1. IFC Audit & RCM Revamp
- Conducted a detailed control risk assessment across key financial and operational cycles
- Identified gaps in design and operating effectiveness of controls, especially in procurement, inventory, and dispatch processes
- Completely revamped the Risk Control Matrix (RCM) with updated control objectives and test plans
- Aligned control design with updated business realities, ERP workflows, and listing compliance requirements
🔁 2. Comprehensive Process Review
- Performed end-to-end walkthroughs of sales, procurement, production, inventory, and dispatch processes
- Identified operational bottlenecks, manual overrides, and process duplications that impacted efficiency
- Flagged inconsistencies in documentation trails and approval mechanisms
- Recommended improvements for better process automation, compliance alignment, and control ownership clarity
🔮 3. Future-Readiness & Process Improvements
- Provided actionable insights to align business processes with future scalability, ESG reporting needs, and digital transformation goals
- Benchmarked current control maturity with best practices for large-cap manufacturing listed companies
- Delivered a roadmap for enhancing internal audit coverage, including emerging risk areas like cybersecurity and data governance
Tangible Impact:
- Strengthened IFC framework with updated controls and streamlined documentation, improving audit readiness
- Eliminated key process inefficiencies, reducing delays in approval and reconciliation cycles by up to 35%
- Empowered internal teams with clarified process ownership and SOPs, enhancing compliance culture
- Positioned the company to scale with stronger internal governance and investor confidence
