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Tech Magify LLP

Case Study

Client Details:

Client Name: 
Magenta Mobility Pvt. Ltd.
Industry: 
All-electric logistics company

ZOHO Products Involved:

TechMagify Services Taken:

1. Consulting   2. Configuration  3.Development  
4. Integration   5.Training  6. Documentation  7.Support

Overview

Magenta Mobility Private Limited faced numerous challenges with their existing accounting software, which was unable to meet the growing demands of their multi-branch operations. Data storage on a local server, sluggish performance due to large data volumes, and the absence of essential features such as role-based access control, approval mechanisms, and transaction locks made it difficult to manage their accounting processes efficiently. To address these challenges, we implemented Zoho Books, a cloud-based accounting software, providing them with advanced functionality to manage their multi-branch operations seamlessly.

Executive Summary

Magenta Mobility Private Limited is a fast-growing company in the mobility sector, managing multiple branches across different cities in India. They needed a more robust and flexible accounting solution to handle the complexities of their operations. Their previous software, Ta was slowing down their processes due to limited functionality. Zoho Books was implemented to streamline their accounting processes, provide real-time insights, and enable multi-branch management from a cloud-based platform.

Problem Statement and Key Challenges

Magenta Mobility Private Limited faced the following key challenges with their earlier accounting software:

1. Local Server Storage: The data was stored on local servers, limiting accessibility and making collaboration between branches difficult.
2. Performance Issues: As data volume grew, hindering productivity and performance.
3. Lack of Role-Based Access: There was no ability to control user access based on roles, leading to security and operational inefficiencies and giving acess for everything to everyone.
4. No Entry Approval Mechanism: The absence of an approval workflow for financial entries increased the risk of errors and unauthorized transactions.
5. PDF Attachment Issues: Uploading and managing PDF attachments was cumbersome, impacting document management and creating compliance issues.
6. Difficult Bulk Data Export: Exporting large volumes of data was time-consuming and inefficient.
7. Inadequate Reporting: Mis-reporting was not possible, limiting the company’s ability to gain insights into financial performance.
8. Inventory Management Issues: Accounting software did not support multi-location inventory management, affecting the company’s ability to track stock across branches.
9. Product Assembly and BOM Setup: The inability to set up Bills of Materials (BOM) and manage product assembly processes was a significant bottleneck.
10. Transaction Lock Feature: Without a transaction lock feature, there was a risk of unintentional modifications to past entries.
11. City-Wise Profitability: It was difficult to analyze profitability on a city-wise basis, hindering decision-making.


Evaluation of the Problem

Magenta Mobility Private Limited needed an advanced cloud-based accounting system that could overcome the limitations of their current software and meet their growing needs. We conducted a detailed assessment of their operations and determined that Zoho Books was the ideal solution due to its powerful cloud-based capabilities, role-based access control, approval workflows, and support for multi-branch and multi-location operations. Zoho Books also offered enhanced reporting capabilities, including city-wise profitability, which would be critical for the company’s decision-making.

Proposed Solution

We proposed the implementation of Zoho Books to address the challenges faced by Magenta Mobility Private Limited. Key features of the solution included:

●Cloud-Based System: Zoho Books eliminated the need for local server storage, enabling real-time access to data from any location.
●Role-Based Access Control: Users were assigned roles with specific permissions to enhance security and operational efficiency.
●Entry Approval Mechanism: An approval workflow was implemented for financial transactions, reducing errors and ensuring compliance.
●Improved Document Management: PDF attachments could now be easily uploaded and managed within the system.
●Efficient Bulk Data Export: Zoho Books simplified the process of exporting large volumes of data, improving productivity.
●Advanced Reporting: Custom reports were created to track city-wise profitability and provide deeper insights into business performance.
●Multi-Location Inventory Management: Zoho Books allowed for seamless tracking of inventory across multiple branches.
●BOM Setup and Product Assembly: The system supported the assembly of products and Bills of Materials, streamlining the production process and bringing visibility on their Raw Material and as well as FInished Goods Inventory to plan reorder levels accordingly.
●Transaction Lock Feature: Transaction locks were implemented to prevent unintentional modifications to past entries.


Implementation

The implementation of Zoho Books for Magenta Mobility Private Limited involved several phases:

  1. Existing Process Understanding: We sat with the Magenta team and understood their existing processes and systems in place to try and replicate their operations into Zoho Books.
  2. System Configuration: Zoho Books was configured to meet the specific needs of Magenta Mobility, including multi-branch setup, role-based permissions, and approval workflows.
  3. Training: Comprehensive training was provided to the Magenta Mobility team to ensure a smooth transition to the new system.
  4. Support: Ongoing support was provided to ensure the system was functioning smoothly and to address any post-implementation queries or minor changes as per their requirements.

Result

The implementation of Zoho Books transformed Magenta Mobility Private Limited’s accounting operations:

●Increased Efficiency: The cloud-based system improved collaboration across branches and eliminated performance issues associated with local servers.
●Enhanced Security: Role-based access control and approval mechanisms improved security and accountability in financial transactions.
●Improved Reporting: City-wise profitability reports allowed for better decision-making and financial planning.
●Streamlined Operations: The ability to manage multi-location inventory and product assembly processes streamlined their operations, reducing errors and inefficiencies.
Magenta Mobility Private Limited is now able to manage their accounting and operations more effectively, with real-time insights and streamlined workflows that support their growing business.


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