My Eco Tribe, a family-run business promoting eco-friendly products, achieved improved financial transparency, vendor relationships, and compliance with Brego’s structured Accounts and Financial Management services, setting the stage for efficient operations and sustainable growth.
My Eco Tribe
Industry: E-commerce (Eco-Friendly Products)
Type: Family-Run Business
My Eco Tribe is a family-run business committed to promoting sustainability through eco-friendly alternatives to everyday products. The company offers a range of products such as reusable straws, bamboo toothbrushes, and biodegradable cleaning supplies. In addition to product offerings, My Eco Tribe provides educational resources to encourage customers to adopt more sustainable lifestyles.
Lack of formal accounting system: The absence of a structured accounting and bookkeeping system caused difficulties in managing cash flow and financial records.
Vendor payment delays: Delays in vendor payments and billing affected the company’s reputation and relationships.
Compliance gaps: Limited expertise in tax compliance exposed the business to potential legal risks and penalties.
Accounting and bookkeeping: Introduced a formalized accounting system to manage financial transactions efficiently and ensure cash flow visibility.
Vendor payments management: Streamlined the payment process to avoid delays and improve relationships with vendors.
Compliance assistance: Provided guidance on tax regulations, ensuring timely GST filings and adherence to legal requirements.
Improved financial transparency: The structured accounting system improved financial visibility and accuracy, allowing for better decision-making.
On-Time vendor payments: The optimized payment process strengthened vendor relationships and boosted the company’s reputation.
Full compliance achieved: The business adhered to all tax laws, mitigating risks of penalties and ensuring smooth operations.
Operational Efficiency: Streamlined processes resulted in smoother operations and time savings.
Improved Vendor Relationships: Timely payments enhanced the company’s standing with its suppliers.
Financial Accuracy: Accurate financial reporting enabled informed decision-making and better cash flow management.
ROI:Â Our Accounts and Financial Management services helped My Eco Tribe improve operational efficiency, achieve full compliance, and enhance financial visibility, positioning them for continued growth in the eco-friendly market.
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