Implementation of Oracle E-Business Suite R12

Client background

Client: A leading non-banking financial company (NBFC)

Industry type: Banking, financial services and insurance (BFSI)

Products or Services: Loans (Individual, housing, vehicle and SME/Corporate – merchant cash advance, business expansion, healthcare equipment finance)

Areas of operation: India

Customers: Over 5000

Challenges

The client was using multiple complex third-party systems to book revenue because of which its error tracking and handling processes were time-consuming, requiring a great deal of manual intervention. The Procure to Pay (P2P) and finance processes were also manual and non-standardized. There was no mechanism to track progress of purchase orders and payments, leading to poor levels of response to vendors as well as internal stakeholders. Furthermore, there was an urgent statutory need for GST compliance of the Enterprise Resource Planning (ERP) system.

Solution

The client faced an urgent business need to replace its legacy systems in order to accommodate the increase in demand from its customers and to meet regulatory requirements and chose Wipro as its strategic IT partner for the upgrade and optimization of the inherited Oracle ERP system as well as implementation of the Oracle ERP core solution.

Following are the highlights of the scope of the engagement:

Automated procurement and payable processes to reduce processing time of payable invoices
Enabled tracking of approvals, payments, and revenues in a centralized system (Oracle General Ledger)
Set up integration between the banking partner and Oracle application for vendor payments
Implemented a complex GST compliant solution to cover all aspects of GST as per Govt. of India requirements
Integrated receivable third-party applications, such as ORBI, Indus and Info-Lease with Oracle applications for better visibility of revenue to higher management
Set up an offshore-based 24x7 dedicated service desk for L1 ERP application support, cloud network, and datacentre support

Business impact

Implementation of Oracle E-Business Suite by Wipro has resulted in significant savings in terms of time, efforts and cost to the client through automation of data validation and process optimization.

90% reduction in manual effort through automation of data validation by creating a transactional data processing program which was then integrated with third-party systems
50% time savings in P2P processes - Notifications now go via email to the approving authority and the approver can approve the Purchase Order (PO) via email. There is no longer a requirement for the approver to enter the application for approving POs
30% reduction in development and support costs
Tracking of approvals, payments, and revenues in a centralized system
100% GST compliant ERP system

With the implementation of Oracle E-Business Suite R12, Wipro streamlined the existing finance processes of the client and enabled them to adopt industry-wide best finance practices, process automation and 100% GST compliance. Wipro’s strong domain consulting expertise, excellent project management capabilities and co-ordination between various stakeholders during the cutover ensured a seamless and timely delivery.

R. Mohan - Vice President, Applications Services (India), Wipro Limited

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How a leading non-banking financial

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