Hospitality industry is one of the lucrative industries that always has something enticing to offer to guests. It includes hotels, tourism, agencies, theme parks, restaurants, bars, etc. With each passing year, this industry is witnessing a new record of travelers in India.
However, with every good news follows the bad news as well. As the no. Of travelers or visitors increases in these areas, managing accounts, manpower, payrolls, and fixed assets becomes tricky to handle.
Accurateness, reliability, relevancy, and consistency are the factors that accounting demands to administer proper finance decisions. On the contrary, In-house accountants often mislead their owners with positive data in fear of being reprimanded.
Accounts should be based on facts, verifiable data, and neutrality. For that matter, many hospitality industries rely on an external agency to give them a clear picture of their financial accounts.
Using advanced technology, our accountants accumulate financial data and record it using pre-designed structures, resulting in improved, consistent and comparable data. Further, our accounting software can provide audit track records abided by the set industrial regulations, resulting in data credibility. With it regulating the consistency method, our accountants pursue the same accounting principles every year, enabling significant trend analysis.
There are many types of the workforce involved in the hospitality industry, like cashier, receptionist, bell boy, waiter, server, housekeeping staff, IT department, etc. While most of them are hired permanently, some get stationed on a contractual basis.
Thus, hospitality service providers find it a demanding job to maintain the payroll of both these categories, often ending up in inaccurate payments.
Our recruiting team has complete access to the main job portals, monitoring relevant candidate databases and saving them in their software. This enables them to come up with the required candidate details within a stipulated period meeting our client’s requirements. Along with it, we also facilitate payroll processing for both contractual and permanent employees.
Fixed assets take over 70% of investment in the hospitality industry and maintaining them, is a real challenge for in-house personnel. Creating a list of current assets from different locations can be a tedious job to perform.
Registers and spreadsheets are often used by industries to keep track of assets, but those are insufficient on their own. A new acquisition or the disposition of an asset may not be recorded immediately. Added to it, ghost assets that are no longer available physically or are non-functional also depict a part of fixed assets that are being recorded in the company’s balance sheet.
To eradicate such issues, we automate the complete lifecycle of our client’s fixed asset. It includes procurement, depreciation, re-assessment, disposition, etc. Our fixed asset administration team makes use of advanced software instead of the traditional register or spreadsheets method providing accurate details of all the fixed assets (including client’s branches spread across anywhere in India).
The vendor statement usually requires the vendor’s invoices and the company’s invoices to be the same, helping the company analyze how much outstanding balance is there that needs to be paid to vendors.
However, in-house workers either miss certain data to enter their records or don’t consider it important to record it, which, at a later stage, leads to a rift between vendors and the company. The absence of a vendor reconciliation method results in an over-assessment of vendor invoices that a company cannot recognize.
Our specialized team tries to locate the root cause of mismatched accounts between vendors and the company’s system by scrutinizing the opening balance, scanning line items, and ensuring accuracy in a purchase transaction. By fixing their relationships and reducing vendor queries in the future, we are helping both parties. Our controllers leverage modern technologies to manage the process efficiently and effectively.
As we know, statutory laws change according to states. Different states come with distinct regulations, and failing to abide by these rules can end the company in legal trouble. Such companies avoid taking risks and often ask for a third-party agency for assistance. We are equipped with the knowledge of statutory rules and regulations due to our years of experience, network, and exposure in the hospitality industry.
Fear not!!!
We are offering services that help our clients in managing their Hospitality business efficiently
A Qualified Chartered accountant from the Institute of Chartered Accountants of India and a commerce graduate from Delhi University with 20 years of post-qualification experience in Internal Controls, Process audits, and Retail audits.
He specializes in exploring the market potential for various services and converts them into new business opportunities contributing to growth and expansion in Retail, FMCG, Manufacturing, Infrastructure, and Project-based industries.
He has played an indispensable role in building the core business verticals in the company and maintains strong PR with clients.
He is based out of Delhi and overlooks the North and East Business Operations. Further, he is also a partner in Jack & Associates for practicing chartered accountancy in the firm. He is passionate about traveling and exploring new places. He believes in self-determination, discipline, and quality work by maintaining a balance between work and family.
A Qualified Chartered accountant from the Institute of Chartered Accountants of India and a commerce graduate from Mumbai University with 15 years of supreme knowledge and expertise in internal audits, controls, taxation (direct and indirect), and advisory. His forte is assessing and understanding clients across cultures, geographies, and industries, designing customized transition plans for manufacturing, retail, FMCG, and service industries, and implementing them. Additionally, he is also responsible for fostering strong and lasting relationships with clients.
At Pro-TEAM Solutions currently, he plays a role of a Regional Associate Director focusing on taxation and audit related areas, supervising west-region operations. He is also a partner in Jack & Associates for practicing Chartered Accountancy in the firm.
He is an active marathon runner and an avid cricket fan who believes in the power of “SELF-MOTIVATION” and “SELF-REALIZATION”.
He is a senior retail industry expert possessing 11 years of specialization in Inventory, Fixed asset, Negotiation, Budgeting, Internal Audit, Analytical Skills, and Accounting. He holds a degree in Masters in Business Administration (MBA) in Finance from Bangalore University, after completing his graduation in commerce from Dhadwad University. His forte is handling various complex and multiple audit assignments for customers in retail and FMCG.
His current position is Regional Associate Director for inventory audits in our Bengaluru Headquarters, playing a significant role in Relations, Operations, and Customer Service Delivery.
His free time is well-spent exploring new places and enjoying some great activities.
His life principle is “The beginning is half of every action”.
A qualified CA with quality experience in the fields of Assurance, Internal Audit, Business Advisory and Finance and Accounts. He was associated with PWC where he started his professional career. He is a seasoned professional with over 27 years of experience in Telecommunications, Manufacturing, Infrastructure, Real Estate and Hospitality Industry.
He specializes in Consulting, Designing Risk Management Framework, Implementation of ICFR and IFC controls, SOPs, Accounting Systems and Corporate Governance.
He is based out of Chennai and an avid reader of books. He believes in “Start by doing what’s necessary, then what’s possible, and suddenly you are doing the impossible”.
A specialist in manufacturing and warehouse-related activities, holding 18+ years of experience in finance, audit, human resources, and general administration.
He earned his Master of Commerce (M.Com) from Karnataka University, Dharwad in Costing & Statistics and his Master of Business Administration (MBA) in Finance from KSOU, Mysore. Additionally, he also has immense knowledge of human resource and labour law compliance management.
At Pro-Team solutions, he is positioned as a Regional Associate Director based out of the Bangalore corporate office, taking care of outsourcing division services like process outsourcing for manufacturing and infrastructure-based verticals & Quantity Surveying.a strong networker.
He is certified in Internal Auditor Training: Quality Management System to ISO 9001:2000 Standard from DNV.
Jitendra has a Master degree in Commerce with 20 years of professional experience. He specializes in internal controls and audit in Manufacturing, Infrastructure and Project based industries. He has rich experience in handling RE, TL, HVDC and OHE project site stores. He plays a key role in Client Relations, Operations and Customer Service Delivery in the organization.
A Chartered Accountant with a Bachelor’s Degree in Commerce and has 7 years of service experience in Internal Audit and controls, FAMS, Accounts Payable (P2P), Receivables (O2C) Audits and Advisory. He specializes in implementing SOPs, System Designs and Internal Controls. He has exposure to Retail, FMCG, Manufacturing, Infrastructure and Service Industry.
An experienced senior professional in assurance and audit domain with 20 years of extensive experience in internal controls, assurance audits, industry specific process audits, Sarbanes-Oxley (SOX), ICFR implementation, and compliance related to corporate governance. He holds masters in the field of commerce from Karnataka University.
Currently, he is positioned as a Regional Associate Director in assurance services in our Bengaluru’s corporate office where he plays a significant role in Client Relations, Operations, and Customer Delivery in the organization.
He believes in a never-give-up attitude, persistent effort, and dedication and has penned many customer success stories.
A specialist in process excellence and system implementation area with over 19 years of profound experience in business finance, project management, fraud and loss prevention audits and fixed asset management services. He holds a degree in Commerce along with being a Certified Fraud Examiner, clasping a commendable experience and knowledge in diverse industries like BPOs, Retail, Manufacturing, Real Estate, and Services. His expertise in process automations, designing and development of software applications for addressing the key concerns of the organization are his key strengths.
In Pro-Team Solutions, he currently serves as a Regional Associate Director in the areas of Client Relations and Business Development. He is also an avid gamer and loves to go on long drives during his leisure.
He truly believes in “Empower your team, Empower yourself & watch our vision come true”
A highly qualified individual with a Fellow Chartered Accountant (FCA), as well as a Diploma in Information System Audit (DISA), a Certificate in Concurrent Audit of Banks (CCAB) and Diploma in Insurance and Risk Management from the Institute of Chartered Accountants of India. Presently pursuing LLB degree from Karnataka State Law University and completed his degree in commerce from Gulbarga University.
In his 16 years of professional career, his forte is AP management, certification, taxation, forensic audits (both public and private sector enterprises), and bank audits (concurrent and statutory).
He has his expertise in direct and indirect taxation, system audits, bank audits and managing various statutory compliances.
In Pro-Team Solutions, he is currently positioned as a Associate Director-Taxation operating in a Bangalore region administering taxation. Further, he is also a partner in Jack & Associates for practicing Chartered Accountancy in the firm.
In 2006, he was awarded Best Leader for Guidance to SGHS in maintenance of books and finance conducted by BRB College of Commerce. Moreover, he is also one of the top 3 performers in Academics in his college days.
He has participated in several marathons, is an avid cyclist whose passion is to explore different places in his leisure time. Added to it, he is a voracious reader of motivational biographies, religious as well as military related books.
“Do good wherever possible, good things will happen without one’s knowledge wherever it is decided by the almighty” is the life principle he follows.
We are one of the leading service providers for retail industry at PAN India level and we offer specific customised services which include showroom audit, compliance audits, warehouse audit, return / damaged stock audit, SOP audit, hygiene audit, dispatch audit, GRN audit, reconciliation and asset confirmation.