Introduction:
Drinks.ng is an online drinks retailer with a large e-commerce site and physical outlets in Lagos, Abuja, and Oyo. The company is a growing business that continues to expand its presence and distribution across Nigeria.
Background:
One of the critical challenges faced by Drinks.ng was managing its accounting and inventory management effectively. To address this challenge, the company implemented Xero Cloud Accounting Software to manage its accounting and Vend Cloud Point of Sale and Inventory management software to manage its sales outlets, customer relationships, and inventory management.
Challenge:
However, the company still needed additional support to ensure the smooth operation of its financial and accounting processes.
Solution 1:
That’s where Pillarcraft came in. Pillarcraft provided Drinks.ng with a hybrid outsourced service that complemented the company’s in-house accounting capabilities.
Solution 2 :
While Drinks.ng maintained an Account officer to manage its bank statement, Pillarcraft provided the company with outsourced bookkeeping services, specifically to handle the various payment reconciliations between the Point of Sale and the Bank account, ensuring that all payments made by customers are adequately reported in the bank. Additionally, Pillarcraft provided the company with outsourced accounting services, which ensured that management reports were ready before the 10th of the following month. The live Monthly Management report This helped Drinks.ng management to have a clear picture of the business performance and take the necessary actions. Furthermore, Pillarcraft also provided Drinks.ng with an outsourced CFO service that included regular meetings with the management team to review strategy and performance with KPI.
Outcome:
This support from Pillarcraft helped Drinks.ng to focus on growing the business across Nigeria while the company’s accounting
