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My internship project at Maantt Global Services was to prepare templates for projecting Return on Investment (ROI) and Break-even analysis statements for one of their products. This involved generating templates that can enable simulating returns for the firm in different scenarios. The internship also provided hands on experience with the accounting software Tally ERP 9.
Tally ERP 9 is single software that allows users to manage multiple financial and business functions. It provides a comprehensive framework and integrates various business operations. The various functions provided by Tally ERP 9 include Accounting & Finance, Sales, Inventory & Purchase Management, Job Costing, Integrated Payroll Management, Data Synchronization, Statutory Compliance and Security & Access Control.
The internal auditing at Maantt Global Services focuses on cloud computing services which are largely being adopted by technology companies from both business applications and IT infrastructure perspectives. The cloud services provide various benefits such as high reliability, flexibility in terms of the operating system platforms and rapid scalability of IT infrastructure. The parameters that Maantt considered while adopting the cloud services include the nature of data, privacy concerns, data security, contractual considerations, etc. The company’s internal auditing involves a key role in these critical initiatives by helping the company understand the risks associated with cloud solutions and appropriate risk mitigation strategies.
Maantt Global Services Private Limited
Maantt Global Services was founded in 2014 to create a platform for digital products with the latest trends in technology. The company was started with the vision of talent management and to reach out to the education-technology (Edu-tech) sector.
Mr.Sakthivel Kannan is the Co-Founder & CEO of the company. He has 15 years of experience in cross-functional teams, driving product quality, technology and solution specifications, training & development. Mr.Mahendra Prasad is the Co-Founder and COO of the company. He was the brain behind various business initiatives in diverse fields such as Glazing, Windoors, Consumable exports and Realtors.
The vision of Maantt is to enrich employability of young value creators.
Their mission is to reach the real quality of global communities’ life by means of enduring value creation. Maantt follows the principle of “People first” to deliver the right solution at the right time. They operate by a process of “Simplify” to stipulate business solutions to resolve complex business challenges.
Maantt’s clients include Cognizant Technology Solutions where it provides learning management systems. The other clients include educational institutions like SRM University, Sikkim, SCHAWK, a global cross-media Production Agency and Omega Institute, Hyderabad.
Maantt Global Services is located in Chennai, Tamilnadu, India. It has another branch in Singapore.
Maantt has developed 4 different products which cater to the need of the target audience.
1) Andhima – The last mile connect
A B2C digital platform that allows users to:
Wishdel – You wish, We deliver
2) Banyan – Talent Development System
Talent Development Systems integrate HR processes to develop, motivate and engage and retain productive employees. Their main goal is to create a high-performance sustainable organization to meet its strategic objectives. Training goals are established to help the individuals in the organization for career planning. The system provides professional development courses to master their core competencies, enhance job performance and encourage personal growth. An electronic course catalog is made available, a personalized learning plan, displaying a list of recommended courses, a track list of the courses which have been successfully completed and a calendar of upcoming training events.
The product ‘Banyan’:
3) Benchaway – Freelancer Community
There are several people out there, constantly, in the lookout for jobs and to have a meaningful career. The idea of a fulfilling career reflects one’s skills, competencies, passion and also their moral values. There are people who feel that they are stuck with jobs that don’t give them any job satisfaction and are unhappy about it. A freelancer community plays a major role in helping the freelancers find an interconnection between their values and talent. This is a platform for them to showcase their talents are connect to the employer. This also helps organizations to meet their potential employees and get the work done from the freelancers.
The following are the key roles of the product ‘Benchaway’:
4) Delxpro – Program boot camp
A programming boot camp is a technical training program that helps individuals gain programming skills that employers look for. This helps them to master their programming skills and solve real-world problems.
The following are the features of the product ‘Delxpro’:
DESCRIPTION OF PROJECT
Using Microsoft Excel, I enabled simulate scenarios for a product Maantt intended to offer. I had to estimate expenses, classify them into fixed and variable, project for revenue and compute the minimum number of participants, keeping in mind the required rate of profit margin.
DESCRIPTION OF WORK
a) Preparing a Return on Investment (ROI) statement
Maantt signed a deal with SRM University, Sikkim for 5 online courses through Banyan platform namely:
The first three courses were for a duration of 3 months each and the next 2 courses were for a duration of 1 year each. The data of the costs of selling each course was provided. My task was to do research and identify the various expenses incurred in designing and selling an online course. The expenses identified were:
Revenue was calculated after providing a 50% scholarship for the students of the first batches of all 5 courses. I also calculated a 10% commission to the University for promoting the company’s product.
The expenditure for studio and infrastructure was computed by visiting places and negotiating a price with them. Subject Matter Experts (SME) propose packages for their content and their lecture recording based on the number of hours. Marketing expenses were computed after analyzing the market prices.
b) Preparing a Break-even analysis statement
Break-even analysis allows a company to determine what needs to be sold, monthly or annually, to cover the costs of doing business. It calculates a break-even point based on fixed costs, variable costs per unit of sales and revenue per unit of sales. The break-even point is reached when the expenses incurred are equal to the revenue generated, that is, no profit no loss. Break-even analysis deals with the contribution margin of a product. It is the excess between the selling price of the good and total variable costs. Fixed costs are not considered in calculating the contribution margin.
Maantt wanted a break-even analysis to forecast their break-even sales figure and to analyze the number (number of students) at which they will break-even. Also, to know the minimum sales quantity needed to avoid losses. This also helps them to set targets in terms of the number of units or revenue.
Break-even analysis helps Maantt to set their delivery price of the product to understand the economic impact of various price and sales-volume scenario. Having the right price for the product can boost profit much faster than increasing volume.
To calculate a break-even analysis statement, I categorized the fixed and variable expenses. With the total revenue from all 5 courses and the total expenses (fixed and variable), I calculated the profit. Then, I calculated the sales revenue per user and the variable cost per user to know the contribution margin per user. The profit margin was calculated, and the break-even point was calculated by dividing total fixed expenses by contribution margin per user. Finally, the break-even sales was computed by multiplying break-even point with sales revenue per user.
c) Voucher entries on Tally software
Voucher entries were created on Tally software for various transactions using the invoices. The transactions were:
After accounting for these transactions, bank reconciliation was performed on Tally. A bank reconciliation statement tallies the balances in a company’s accounting records to the corresponding information on a bank statement. This is done to identify the differences between the two and to make the appropriate changes.
RESULTS AND FINDINGS
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