Case Study: a large UK-headquartered steel & engineering manufacturer achieves centralized accounting and tax compliance with Mynd’s Shared Service Center

a large UK-headquartered steel & engineering manufacturer centralizes 8 entities in 2 months with Mynd

The Indian subsidiary of a large UK-headquartered steel and engineering manufacturer faced significant challenges with its fragmented, entity-driven accounting and taxation operations for its eight Indian entities. The decentralized structure led to a lack of standardization, high employee turnover, compliance backlogs, and delayed reporting. To address this, the company partnered with vendor Mynd to implement a Shared Services Center (SSC) for accounting and taxation.

Mynd executed a rapid transition to a centralized SSC, clearing a backlog of compliances and establishing standardized processes with SLAs and KPIs. This Mynd solution resulted in significant cost savings, a single point of contact for all entities, improved reporting, and timely statutory compliance across multiple states. The partnership has been successfully maintained for over five years.