The company overcame it’s financial challenges by the new vendor assigned to them who linked all salary payments to attendance

The company was facing the challenge of making payment of Salary to the lower level staff in Cash as the employees didn’t have any Bank account due to lack of documents. The management was of the view that there is some leakage in the process and assigned the task to tighten the same. We followed the following approach and delivered results:

1. 1. Understanding of complete process being followed in the organization and identification of flaws in the existing system considering the practical aspect of geographical location as critical factors.
   2. Identified the vendor who can make their documents, identified Banking partner for the client, Implemented the New Attendance system, and also process for recording of attendance.
   3. Cash payment was reduced to 5% of earlier cash payment by transferring the salary either through banking channel and/or through Contractor model
   4. Linked all the salary payments to the attendance and thereafter processing salary based on attendance record.
   5. The company was able to save appx 7.5% of monthly cash flows due to the above systems in place.

1. Saving of 10% of Salary cost due to controls being implemented in place