About the Company

Industry: Design Studio and Furniture Manufacturing

Type: Privately Held

Josmo Studios is a design studio and furniture manufacturer known for crafting artisanal, bespoke furniture with a focus on sustainability and Indian craftsmanship. They cater to a wide range of industries, including hospitality, real estate, and commercial spaces, offering well-designed, functional furniture solutions.

Problem Statements

Complex management of advances: Josmo Studios struggled with the proper maintenance of advances received and given, leading to financial discrepancies.

TDS compliance challenges: Ensuring the correct deduction of Tax Deducted at Source (TDS) on advances was difficult, raising compliance risks.

Delayed expense recognition: Josmo experienced delays in booking purchase invoices, leading to inaccuracies in their financial reporting and profit-and-loss (P&L) statements.

Our Solution

Streamlined advances management: We implemented an advanced accounting system to accurately track advances received and given, ensuring appropriate adjustments were made in the accounting system.

TDS deduction compliance: Brego developed an automated system for TDS deduction on advances, ensuring timely and accurate compliance with tax regulations.

Purchase invoice management: We introduced a digital invoice management system to automate the receipt and processing of purchase invoices, improving the accuracy of expense recognition and reducing delays.

Results

Improved financial transparency: The implementation of advanced record-keeping tools enabled Josmo to better track liabilities and assets, leading to more accurate financial reporting.

TDS compliance: Automated TDS deduction processes ensured timely and accurate deductions, reducing the risk of penalties and legal complications.

Enhanced P&L accuracy: By streamlining purchase invoice management, Josmo’s profit-and-loss statements reflected a more accurate financial position, improving decision-making.

Benefits and ROI

Higher financial accuracy: Improved financial processes reduced errors in managing advances and expenses, leading to better financial control.

Compliance and risk mitigation: Automated TDS systems minimized the risk of non-compliance with tax regulations.

Increased operational efficiency: Faster processing of purchase invoices improved overall workflow efficiency.

ROI: Brego Business’s financial solutions delivered measurable improvements in accuracy, compliance, and operational efficiency, positioning Josmo Studios for sustainable growth and stronger financial control.