About TARZ Distribution Pvt Ltd:
TARZ Distribution India Pvt. Ltd. has been India’s leading partner for luxury beauty since 2007. An expert in distribution and marketing services, headquartered in Mumbai, with regional offices across India. Their expertise and intimate knowledge of luxury beauty, spanning six decades, is derived from being an integral part of The Chalhoub Group, making them a major player in the luxury beauty market. TARZ Distribution India Pvt Ltd represents the following brands in India, Dior, Givenchy, Burberry, Calvin Kline, Davidoff, Marc Jacobs, Chloe, Roberto Cavalli, Make Up or Ever and IsaDora.
Learn more about them at https://www.tarz.co.in/
TARZ Distribution Pvt Ltd was looking to gain better insights for improved data-driven decision-making with the development of key financial reports on Dynamics 365 Business Central.
CloudFronts addressed TARZ Distribution’s challenge by developing essential financial reports on Microsoft Dynamics 365 Business Central. These reports provided TARZ Distribution with enhanced visibility, analytics, and improved decision-making capabilities.
The following reports were developed for TARZ Distribution:
- Trial Balance Report: This report enabled TARZ Distribution to ensure the accuracy and integrity of their financial records with a dimensional view. It allowed them to compare debits and credits for each account, identifying any imbalances or errors in their accounting system.
- General Ledger Entries Dump: The General Ledger Entries Dump report provided TARZ Distribution with a detailed record of all transactions posted to the general ledger along with multiple dimensions. It facilitated transaction analysis, transparency, and accuracy in financial reporting.
- Debtors Ageing Report: This report categorized accounts receivable based on age and flexible age buckets, helping TARZ Distribution manage cash flow and monitor timely customer payments. It allowed them to identify overdue payments and take appropriate actions for collections.
This was Phase 1 of the project. As part of Phase 2 of the project, CloudFronts expanded TARZ Distribution’s financial reporting capabilities by developing the following reports:
- GL Dump with All Dimensions: This report allowed TARZ Distribution to access detailed records of all transactions posted to the general ledger with a comprehensive view of multiple dimensions, enabling in-depth transaction analysis and enhancing transparency and accuracy in financial reporting.
- Creditors Ageing Report: The Creditors Ageing Report categorized accounts payable based on age, facilitating efficient cash flow management and enabling TARZ Distribution to monitor timely vendor payments. This report empowered them to address overdue payments and streamline their financial processes promptly.
- Stock Ageing Report: With the Stock Ageing Report, TARZ Distribution gained insight into the ageing of its inventory. This valuable data assisted in inventory management and optimizing stock levels.
- Stock Ageing – Provision Report: The Stock Ageing – Provision Report provided TARZ Distribution with a detailed view of inventory ageing, including provisions, which were essential for accurate financial planning and decision-making.
- GSTR-1 Report: This report allowed TARZ Distribution to effortlessly manage their Goods and Services Tax (GST) returns, ensuring compliance with tax regulations and simplifying their tax reporting process.
- Trial Balance (New Format): The newly formatted Trial Balance report improved TARZ Distribution’s ability to verify the accuracy and integrity of their financial records, offering a dimensional perspective to compare debits and credits for each account.
With the successful completion of Phase 2, TARZ Distribution had an even more powerful set of financial reports at their disposal to facilitate data-driven decision-making.
The reports developed by CloudFronts empowered TARZ Distribution Pvt Ltd with improved visibility, data-driven decision-making capabilities, streamlined processes, and enhanced cash flow management.
- Dynamics 365 Business Central
Post Go Live:
Following the implementation of reports in Phase 1 and the extended set of financial reports developed in Phase 2, TARZ Distribution Pvt Ltd enjoyed numerous benefits:
- Improved Visibility: The newly added reports provided TARZ Distribution with an even more comprehensive overview of its financial position, enhancing its visibility into financial data and bolstering its ability to make informed decisions to drive business growth.
- Enhanced Data-Driven Decision-Making: Access to these additional reports allowed TARZ Distribution to make data-driven decisions with confidence. The reports enabled them to analyze trends, detect irregularities, and proactively optimize their financial performance.
- Streamlined Financial Processes: The extended suite of financial reports further streamlined TARZ Distribution’s financial processes. They could promptly identify errors, reconcile accounts, and track transactions more effectively, which improved overall operational efficiency.
- Effective Cash Flow Management: The additional reports, particularly the Creditors Ageing Report, empowered TARZ Distribution to manage their accounts payable more effectively, resulting in better cash flow management and reduced risks associated with overdue payments.
- Audit Readiness: With accurate and comprehensive financial reports at their disposal, TARZ Distribution was well-prepared for audits. They could provide transparent and reliable financial information whenever needed.
In conclusion, the reports developed by CloudFronts empowered TARZ Distribution Pvt Ltd with improved visibility, data-driven decision-making capabilities, streamlined processes, and enhanced cash flow management. The developed financial reports on Microsoft Dynamics 365 Business Central played a crucial role in achieving these post-go-live benefits.