Recruitment & Staffing

Overview

The company is a Global Recruitment firm with capabilities in Executive Search, Global Migrations, Contract Staffing and managing complete talent supply chains.

Context & Challenges

The company was managing its accounting over traditional tools like Tally & MS Excel & was highly dependent upon these tools, which lead to delay in finalizing of accounts. Besides this firm was having three business segments i.e. Temp Staffing, Perm Staffing & Other services. Firm was not able to quantify Business Segment wise Financials due to limitations of existing accounting tool used by the firm. Firm was having low profit margins on Temp Staffing, hence needed to apply for the lower deduction certificate u/s 197. Company was facing following challenges:-
  • Business Segment wise profitability
  • Calculation of variable pay of Teams in relation to business brought by them 26AS Reconciliation with books
  • Payroll Management (Both Temp Staff & Perm Staff)
  • Various Compliances to Statutory laws i.e. PF, ESI, Service Tax, TDS, Income Tax etc.