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Centralizing Shared Services Centre for a Leading Steel Manufacturer

From 8 Entities to One Unified System — SAP & Tally Integrated for a Multi-Unit Steel & Engineering Manufacturer

Manufacturing Finance — Centralized Shared Service Center Success

Implementation Highlights

• Tenure: 5+ years
• ERP: SAP & Tally (Integrated)
• Scope: Taxation & Accounting (Multi-state)
• Compliance: SLA & SOX compliant
• Delivery: Centralized Shared Service Centre (SSC)

A multi-unit steel & niche-engineering manufacturer engaged MYND Integrated Solutions to centralize accounting and taxation across their 8 legal entities. MYND Integrated Solutions completed the transition in 2 months and cleared the compliance backlog within 3 months, delivering standardized processes and SLA-driven governance.

Challenges before Automation

Entity-driven fragmentation

Each unit followed different accounting rules, producing inconsistent financial data across locations.

Lack of standardization

Missing SOPs and process notes led to varied reconciliations and recurring errors.

High churn & backlog

Staff turnover caused frequent backlogs and delays in closing periods and filings.

Missed compliance deadlines

Decentralized ownership increased risk of missed statutory and tax timelines.

OUR SOLUTION
Centralized Shared Services Center & Process Discipline

MYND implemented a rapid, SLA-driven shared services model, consolidating accounting and taxation activities into a central SSC covering all 8 entities. The approach combined SOP creation, ERP integration, KPI governance and a focused backlog clearance plan.

Rapid transition — 2 months

Onboarded Core SSC team, enabled governance, and migrated entity processes into the central model within 60 days.

Backlog clearance — 3 months

Prioritised statutory filings and period closures; cleared pending compliances and reconciliations within 90 days of takeover.

SOPs & standardized controls

Documented process notes and SOPs with stakeholder sign-offs; introduced SLA/KPI monitoring for sustained control.

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Implementation Roadmap — Phase-wise Journey

From immediate stabilization to continuous governance

🛡️

Phase 1

Stabilize (0–2 months)

  • Mobilize SSC core team and assign immediate governance owners.
  • Perform rapid process mapping to identify high-risk gaps.
  • Clear urgent exceptions and stabilize month-end close procedures.
Goal: Remove statutory exposure & stop-gap backlogs.
⚙️

Phase 2

Standardize (2–4 months)

  • Document SOPs & process notes with stakeholder sign-offs.
  • Harmonize GL mappings & chart of accounts across entities.
  • Integrate SAP & Tally data feeds; automate reconciliations.
Goal: Unified processes, fewer manual interventions.
📊

Phase 3

Optimize & Govern (4+ months)

  • Implement SLA & KPI dashboards with automated reporting.
  • Run continuous training to reduce churn impact.
  • Conduct SOX readiness checks and regular process audits.
Goal: Sustained accuracy, predictability & improvement.
Talk to our Finance Transformation Team →

Integrated with SAP & Tally — Real Time Flow

MYND built connectors and reconciliation flows between the client’s SAP ERP and subsidiary Tally systems to ensure a single source of truth for accounting entries. This integration reduced manual posting, improved timeliness, and enabled automated exception alerts.

Learn how we integrate with SAP →
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Business Outcomes

Entities Centralized
1 Units
Transition Time
1 Month
Backlog Cleared within
1 Months
Engagement of
1 + Years

Process Standardization

SOP / PROCESS NOTES — Documented end-to-end accounting tasks with stakeholder sign-offs and ownership matrix
KNOWLEDGE TRANSFER & TRAINING — Ongoing sessions to reduce impact of churn and retain process knowledge.
GL MAPPING & CHART OF ACCOUNTS — Harmonized COA mapping across entities for consolidated reporting.
EXCEPTION HANDLING — Defined escalation matrix and SLA turnaround times for reconciliations

Want Results like this?

Talk to our finance transformation team to explore SSC setups, SAP/Tally integration and SLA-driven operations. Fast transitions — measurable outcomes.

See more Transformation Journeys Book a 20-minute Consultation

Want Results like this?

Talk to our finance transformation team to explore SSC setups, SAP/Tally integration and SLA-driven operations. Fast transitions — measurable outcomes.

Ready to Fix Your Finance & Accounting Processes ?

Let's Start Your Transformation Journey

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ABOUT MYND

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Saurav Wadhwa

Co-founder & CEO

Saurav Wadhwa is the Co-founder and CEO of MYND Integrated Solutions. Saurav spearheads the company’s strategic vision—identifying new market opportunities, unfolding product and service catalogues, and driving business expansion across multiple geographies and functions. Saurav brings expertise in business process enablement and is a seasoned expert with over two decades of experience establishing and scaling Shared Services, Process Transformation, and Automation.

Saurav’s leadership and strategy expertise are backed by extensive hands-on involvement in Finance and HR Automation, People and Business Management and Client Relationship Management. Over his career, he has played a pivotal role in accelerating the growth of more than 800 businesses across diverse industries, leveraging innovative automation solutions to streamline operations and reduce costs.

Before becoming CEO, Saurav spent nearly a decade at MYND focusing on finance and accounting outsourcing. His background includes proficiency in major ERP systems like SAP, Oracle, and Great Plains, and he has a proven track record of optimizing global finance operations for domestic and multinational corporations.

Under Saurav’s leadership, MYND Integrated Solutions maintains a forward-thinking culture—prioritizing continuous learning, fostering ethical practices, and embracing next-generation technologies such as RPA and AI-driven analytics. He is committed to strategic partnerships, long-term business development, and stakeholder transparency, ensuring that MYND remains at the forefront of the BPM industry.

A firm believer that “Leadership and Learning are indispensable to each other,” Saurav consistently seeks new ways to evolve MYND’s capabilities and empower clients with best-in-class business process solutions.

Vivek Misra

Founder & Group MD

Vivek is the founder of MYND Integrated Solutions. He is a successful entrepreneur with a strong background in Accounts and Finance. An alumnus of Modern School and Delhi University, Vivek has also undertaken prestigious courses on accountancy with Becker and Business 360 management course with Columbia Business School, US.

Vivek is currently the Founder & Group MD of MYND Integrated Solutions. With over 22 years of experience setting up shared service centres and serving leading companies in the Manufacturing, Services, Retail and Telecom industries, his strong industry focus and client relationships have quickly enabled MYND to build credibility with 500+ clients. MYND has developed a niche in Shared services in India’s Finance and Accounting (FAO) and Human Resources (HR). MYND has also taken Solutions and services to the international space, offering multi-country services on a single platform under his leadership. Vivek has been instrumental in fostering mutually beneficial partnerships with global service providers, immensely benefiting MYND.

Mynd also forayed into a niche Fintech space with the setup of the M1xchange under the auspices of the RBI licence granted to only 3 companies across India. The exchange is changing the traditional field of bill discounting by bringing the entire process online along with the participation of banks through online auctioning.

Sundeep Mohindru

Founder Director

Sundeep initiated Mynd with a small team of just five people in 2002 and has been instrumental in steering it to evolve into a knowledge management company. He has brought about substantial improvements in growth, profitability, and performance, which has helped Mynd achieve remarkable customer, employee and stakeholder satisfaction. He has been involved in creating specialized service delivery models suitable for diverse client needs and has always created a new benchmark for Mynd and its team. Under his leadership, Mynd has developed niche products and implemented them on an all India scale for superior services. Mynd has been servicing a large number of multinational companies in India through its on-shore and off-shore model.

TReDS (Trade Receivable Discounting System) has been nurtured from a concept stage by Sundeep and the Mynd team. M1xchange, Mynd Online National Exchange for Receivables was successfully launched on April 7th, 2017. While spearheading the project, Sundeep and his team have built up the TReDS platform to meet RBI guidelines and enhance the transparency for all stakeholders. This platform and related service has the capability of transforming the way the receivable finance and other supply chain finance solutions are operating currently.

Sundeep is currently focused on providing strategic direction to the company and is working towards achieving high growth for Mynd, which will help in creating the products as per customer needs and increase its top line while maintaining the bottom line. He directly involves, develops, nurtures and manages all key client relationships of Mynd. He has also successfully acquired numerous preferred partners to support Mynd’s technology-based endeavors and scale up its business.

Sundeep has been the on the Board of Directors for many renowned companies. He has played a key role in planning the entry strategy and has set up subsidiaries for many multinational companies in India. In his leadership, Mynd has seen consistent growth at the rate of 20+ % CAGR from the year 2009 onwards. This was primarily because of investing into technology and bringing platform based offering in Accounting and HR domain for the customers.