Client background
Client: The leading automotive parts manufacturer is based in North America with operations in North and South America, Europe and Asia.
Industry: Innovative global leader in design, manufacture, distribution and marketing of industrial grade products and services, including extensive offerings of aftermarket parts for automotive and heavy-duty vehicles, specifically filtration.
Products or services: Financial management solution with streamlined processes, agile accounting, collaborative accounting close, analytics with multi-dimensional reporting platform, self-service reports, risk assessment reports.
Geography or areas of operations: Worldwide
Challenges
The client’s existing business systems were dated, highly customized, and lacked the scalability to cope with the changing business demands. In addition, they lacked a chargeback mechanism to meet the demands of customers from the automotive aftermarket, who always sought for discounts on their payments. In response to these business situations and to ensure transparency, the client decided to shift to Oracle Cloud ERP to improve operations involving payables, receivables, general ledger and cash management.
Solution
Wipro did a thorough assessment of the client’s IT environment, mapped the findings to their IT strategy and, proposed a robust solution on public cloud which included the follow key components:
The financial solutions company reduced customer onboarding time from 6 months to a few hours and delivered exceptional customer experience by modernizing applications on Google Cloud
- Oracle ERP Cloud a comprehensive and scalable financial management solution that offers integrated business flow for financial activities in an organization
- CloudAdopt solution – an application which is upgraded regularly with standard business solutions across the industries and bug fix, with minimum or no downtime
- Unique chargeback solutions to meet business requirements
- Complex EDI (Electronic Data Interchange) integrations with their bank to enable seamless payments for suppliers by automating the import of bank statement in Oracle Cash management and enabling Import-Lockbox for receipt of payments from customers into the Oracle cash management modules
- Integration of their new platform with multiple third-party systems such as Baan, KABA, PeopleSoft and other multiple benefit providers with improved automation of invoice creation in payables, automation of receipt and transaction creation in receivables
- Development of integrations with trading partner to facilitate payments to suppliers and to track payment from trading partners
- Reporting and analytics for predefined analyses, dashboards and reports that help the client meet financial and business intelligence requirements with easy to develop custom reports and end-user enablement to customize reports
Business impact
With a highly secure and scalable public cloud ERP solution, the client will realise a substantial increase in operational efficiency and have better control over its overall IT spends by 20%.
Streamlined integration into sub-systems will make their business processes seamless and uninterrupted. Other key benefits of our solution include:
- 45% reduction in email handling time
- Improved Insights into business strategy
- Increased operational efficiency by 20%
The client selected Oracle ERP Cloud Financials to gain access to the latest technologies, streamline their business processes and lower their maintenance costs. The scalability and flexibility of Oracle ERP Cloud enabled the customer to integrate the system with third-party applications. Being their system integration partner, through this solution, Wipro helped them improve efficiency, gain reporting flexibility and, enable scale to support the business as it grows.
-Supreet Bubber, Client Partner, Manufacturing BU, Wipro Limited.
