The Concept of Wellness with Luxury had its own set of challenges like huge capital investment and time-lag for business to achieve break-even. To counter the above challenges, we had to on-board multiple Investors which led us to face challenges like, defining roles and responsibilities for each of the investors, documenting the arrangements for shareholders. Since the concept was new and unique, we were also facing challenges with Banks/financial institutions, to convince them for funding our Business.
Team Nine O Six is the absolute “Go to” for ours like new and unique businesses. They helped us right from the inception, where they guided us with our business plans, prepared Financial Projections(CMA), Business Feasibility reports and Budgeting, helped us organize and structure our organization roles and responsibilities along with drafting of various agreements including shareholders agreement. They helped us secure Bank funding which was very crucial for us. They also helped us design our revenue model as well as securing private equity and benefits under Government incentive schemes.
Our huge volume of Business and international exposure owing to imports and exports leads to complexities of taxation and compliances. Considering the huge amounts involved and urgency of the matters, we were always looking for “reliable team of tax experts” who have hands-on experience of handling tax litigation and are easily accessible when needed.
The Nine O Six team has rich and in-depth experience of handling different kinds of Tax litigation issues. Their research team is excellent and always comes up with supporting Judgments to support and back their submissions and Grounds at Assessment and Appellate levels.
We have been facing problems managing our Inventory considering peculiarities of inventory management of school, like huge variety of stock items and very frequent movement of such items across various branches. This led to piling up of Stock, Blockages of Capital, Wastage of Material and non-availability of material when required.
We are very thankful to Nine O Six for setting up not only our Inventory management System but also putting up internal controls in place. We found their approach to solve our inventory management problem very impressive as they carried out a detailed study of our existing inventory management system, identified the gaps, prepared a detailed report, discussed the proposed solution, got it implemented and trained our staff to use the new automated inventory management solution efficiently.
The resort business requires huge capital outlays, which we sometimes end up funding from Multiple Group Entities. This adds up to complex financial intergroup transactions. The drafting of agreements and formalizing business structure for such transactions is very challenging. Apart from the above requirements, as the business got operational, we faced challenges with establishing SOPs for operations, controlling costs and getting accurate reporting on financial health of the business for informed decision making.
Teaming up with Nine O Six has been one of the best business decisions for us. They have penned down our arrangements and financial transactions and have drafted appropriate legal agreements for the same, to secure our Business Interest and mitigate risks. Their Hospitality sector experience has been very handy in establishing SOP’s and automating reporting for our business operations, which they are monitoring and reporting through internal audit. Further we are very impressed with the customized IT solutions provided by Nine O Six which has helped us get timely reports on cost variances and other aspects.
Being a Startup, it is very important to get “One Stop Solution” for all the Finance, Accounts, Admin and Compliance Work. A Startup is a huge mental and emotional investment and it is very important to focus and build on the core Business ideas, and for that to happen, we needed someone who can mentor us and take responsibility for all the Finance and Accounts activities.
Nine O Six has been a source of freedom from the worries and complexities of Accounts and Compliances. They have been assisting and mentoring our team with all the nitty-gritties of managing and maintain finance and accounts. They have guided us utilize available workforce to the optimum level, by setting up SOP’s.
In India, entities engaged in manufacturing activities have to face multiple and complex compliances under various laws. Considering the peculiar challenges of Manufacturing sector, entities like us have to look for multiple advisors for carrying out different compliances, which can sometime mess-up the taxation, and thereby increase our Tax costs.
We are very fortunate to have taken Nine O Six onboard for Tax and compliance solutions. The Nine O Six team has in-depth knowledge of applicable laws as well as our Industry specific Incentive schemes, which has helped us smoothen our tax compliances and fulfill pre-conditions for availing benefits under Government Incentive schemes.
A DPIIT (GOI) recognized start-up by a team of Chartered Accountants & Tech professionals with vast experience in the field of Taxation (Both Direct and Indirect), Audit including System Audit & Finance, Technology-enabled Tax-Fin solutions.
Nine O Six Advisory Services Pvt. Ltd.
501 & 502, Genesis, Behind SSK Solitaire Hotel, Matoshree Nagar, Near Chandak Circle, Tidke Colony, Nashik, Maharashtra-422002, IndiaEmail: support@thenineosix.com
Phone: +91 9172270005 / 6
CIN: U74999MH2020PTC337225
DPIIT Recognition Number: DIPP69734