PSP is one of the biggest pharmacies in Georgia, they import and distribute pharmaceuticals in approximately 220 PSP pharmacies located almost in every region of Georgia. Their products are imported from over 100 of the world’s leading pharmaceutical manufacturers. Every month 2 million customers choose PSP as their family's pharmacy.In 2017, SavvY implemented the following services: Full Diagnostics of IFRS, IFRS Implementation and Audit Support. Deriving from the company’s specific business activities the most critical elements were Property, Plant, and Equipment, Inventories, and Revenue.

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International Financial Reporting Standards (IFRS) play a vital role to ensure the availability of the transparent, consistent and reliable financial information in the company. Timely and complete financial information is a powerful tool for management for strategic decision making. However, often it is a challenge for the already operating company to ensure smooth adoption to IFRS as this process requires specific expertise and guidance. Our goal is to support you to receive and to maintain high quality financial information. As a result, your company will be financially more stable and stronger.This service will definitely serve your company’s needs if you:<ul style="list-style-type:disc;"><li style="text-align:justify;">Wish to increase the financial efficiency of your company</li><li style="text-align:justify;">Want to implement strong financial reporting practice within the company</li><li style="text-align:justify;">Wish to assess the effectiveness of the internal controls as well as the financial processes and procedures</li><li style="text-align:justify;">Wish to effectively manage your assets and liabilities</li><li style="text-align:justify;">Want to implement managerial reporting which will provide you with the transparent and timely financial information</li><li style="text-align:justify;">Want to prepare your company for fundraising through M&amp;A, bond issuance or IPO</li></ul><img src="/uploads/website_11_a635cc5b87.png" alt="website 11.png">

When you need us

SavvY offers various IFRS implementation related services which are based our unique methodology that was developed specifically by our experts during the last 15 years.&nbsp;Taking into account the client company’s readiness, we create a company tailored IFRS implementation roadmap based on the IFRS diagnostics that was previously conducted by our expert. We want to use the time efficiently. Therefore, we only include value creating areas for IFRS implementation purposes. In addition, we actively engage with the client company’s teams. Therefore, the company not only receives the modern financial reporting tools but also offers its team a unique opportunity for further development and&nbsp; growth.&nbsp;IFRS Implementation may include:<ul style="list-style-type:disc;"><li style="text-align:justify;">IFRS compliance diagnostics</li><li style="text-align:justify;">IFRS implementation roadmap</li><li style="text-align:justify;">IFRS Compliant accounting policies</li><li style="text-align:justify;">Complete IFRS transformation</li><li style="text-align:justify;">IFRS Corporate Trainings</li><li style="text-align:justify;">Periodic IFRS Reporting</li></ul>

IFRS Implementation in pharmaceutical company