Medical devices

The client is a global leader in the rapidly emerging field of robotic-assisted minimally invasive surgery. The India entity is engaged in providing sales and post-sales support services to customers in India. The client was looking for a trusted partner to help them manage the accounting, payroll, and tax compliance functions for the Indian entity.

Our team deployed two dedicated on-site accounting personnel to function as part of the client’s extended finance team. They managed regular bookkeeping and collaborated with cross-functional teams to ensure compliance with all timelines. Their support included transaction recording, month-end closures, MIS design, balance sheet and P&L analysis, annual audit and tax support, payroll processing, weekly updates, and process improvements. Additionally, they handled email, invoice, and folder management to enhance data management initiatives.

The engagement resulted in the establishment of a robust accounting and compliance management system, smooth and timely book closure and monthly reporting, effective implementation of internal controls, and timely completion of annual audits. The engagement continued for more than 3 years before transitioning to the client’s in-house finance team.

The client is one of the world’s leading developers and manufacturers of innovative scientific instruments and software designed to optimise the efficiency, safety, and productivity of key processes in chemistry and biology applications. The head office of the Indian subsidiary is based in the UK. The client was looking for a compliance and outsourcing partner to help them manage the accounting, payroll, secretarial, and tax compliance functions of the Indian subsidiary.

Our team assisted the client in opening a sales and marketing office in Mumbai to facilitate business expansion in India. We provided guidance on entity incorporation, funding options, and the implementation of an accounting ERP. Our support extended to documenting processes and service level agreements, employee onboarding, and securing necessary compliance registrations. Additionally, we supplied a dedicated back-office team for ongoing accounting, payroll, tax, and regulatory compliance. Regular services included transaction recording, month-end closures, annual audit and tax support, payroll management, statutory compliance, and weekly operational reviews for continuous improvement.

Through a smooth initial setup of the company with Grant Thornton Bharat's support, the client was successfully able to manage regular operations and related compliances.