A Fortune 500 company, our client is the world leader in consumer electronics, communication and infotainment industry

Wipro partnered with this infotainment giant to fructify Day One Financial Closing (DOFC) across 26 of its cross-functional units and plants. The objective was to provide a summary and projections for financial data at the end of each month, instead of the middle of the following month. Our solutions which comprised implementation of Oracle R 10.7 and Oracle R 11.03 suite of solutions, helped “cut–off” sales and inventory transactions at a pre-defined day and time before month-end (day minus 1). The key challenge was of integrating various subsidiary systems to Oracle across these 26 cross-functional and geographically separate units, involving 3 Time Zones and 3 countries. Further, our solution ensured centralized tracking of corporate-wide non-trade invoices, drastically cutting cycle time and errors. We also implemented a central system for the settlement of inter–company transactions across all affiliate companies, including the head office. This resulted in significant savings in terms of transaction cost, interest paid to banks and currency hedge.