Anand Capital is a 4,100-person mid-market NBFC headquartered in BKC, Mumbai, with subsidiary offices across Delhi, Bengaluru, Chennai, Dubai, Singapore, London, and three smaller wealth-management entities in Pune, Hyderabad and Ahmedabad. Their 16-day monthly close was their largest operational liability — and the reason their CFO, Devika Anand, started looking for a new accounting platform in early 2025.
The problem
Nine legal entities. Four reporting currencies (INR, USD, AED, GBP, with SGD via parity). Three different accounting platforms — Tally Prime for the Indian entities, SAP B1 for Dubai, QuickBooks Online for the London office. Intercompany eliminations done quarterly via spreadsheet. The audit firm — a Big Four — flagged the close process every year as a material weakness, even when the books eventually reconciled.
RBI compliance for an NBFC adds another layer: monthly NBFC-DR returns, quarterly DNBS-PD returns, annual statutory audits. Every one of these depends on accurate consolidated numbers within a tight window.
The audit firm flagged the close every year. The books reconciled, but the process was the risk.
Why Tracket
Devika ran a six-month vendor evaluation in mid-2025 — Oracle NetSuite, SAP S/4HANA, Tally Prime ERP, and Tracket. Tracket won on three things: out-of-the-box NBFC-friendly chart of accounts, willingness to ship custom RBI-return templates within 60 days, and the fact that the entire finance team would be trained and live within 5 months instead of the 18+ months the alternatives quoted.
The migration
Anand chose Tracket Enterprise. The migration ran over five months with parallel ledgers — Tracket and the legacy systems both producing books for three months before cutover. Intercompany rules were translated and tested entity-by-entity. The Dubai entity was migrated first as a pilot, followed by the three Indian wealth-management subsidiaries, then BKC last.
The result
Monthly close compressed from 16 days to 5. Quarterly close from 28 days to 9. The audit firm's 2026 management letter included one of the rarer phrases in Indian financial services: "no material weaknesses identified in financial close process". Devika's finance team — 38 people across four cities — got their evenings back. RBI returns now go out three days before the deadline instead of three days after.
A multi-entity close in five days. Used to take sixteen.
— DEVIKA ANAND · CFO · ANAND CAPITAL