Case Study: a renowned coffee and beverage brand in India achieves a reconciled fixed asset register with MYND

Renowned Coffee and Beverage Brand in India reconciles 2-3% missing assets with Mynd

The customer, a renowned coffee and beverage brand in India, faced significant challenges with its fixed asset register after a period of rapid PAN-India expansion. The company's growth had outpaced its internal controls, leading to a complex portfolio with assets that were missing, untagged, or inaccurately depreciated. This resulted in an overstated asset base and misstated financials. They engaged vendor Mynd for a fixed asset audit to address these discrepancies and control gaps.

Mynd implemented a three-phase audit solution that included physical verification, an accounting review, and an internal control evaluation. This process reconciled the asset register, corrected depreciation schedules, and strengthened controls. As a result, Mynd identified that 2-3% of registered assets were missing or unused, leading to a more accurate financial picture and improved reporting for the customer.

Renowned Coffee and Beverage Brand in India