- Client descriptor: Information technology company headquartered in California, USA
- Industry type: IT Services
- Products/Services/Core Business: SD-WAN, WAN optimization, application performance management, network performance monitoring
- Geography/Areas of operations: Global
In order to capitalize on the tremendous growth opportunities in Digital Experience Management, and Application Performance Management solutions, our client organization was spun off as an independent company by its parent organization. Our client wanted a scalable ERP solution that provided real-time financial insights, and could seamlessly connect to other systems (e.g. CRM, CPQ) from start to finish, for better operational visibility, and also help them:
- Improve Finance and Accounting capabilities
- Discard multiple legacy systems and conduct operations on a single unified platform
- Ensure data integrity and data visibility to ultimately improve market touch
- Enable timely financial closing with enhanced reporting & analytical capabilities, thereby impacting the company’s financial performance
- Automate processes where manual intervention is unnecessary
- Recognize revenue based on GAAP and International accounting standards
- Enable financial reporting by Revenue segment, Product codes, Project, and Customer
Wipro helped the organization establish a Target Operating Model with a Prioritized KPI list, as well as To-be enterprise processes namely Lead-to-Quote, Quote-to-Order, Trouble-to-Resolve, Procure-to-Pay, Project-to-cash, Order-to-Cash, and Record-to-Report. Based on this business solution, Wipro implemented Oracle NetSuite to offer a robust solution for current and future needs, the core solution being NetSuite SuiteSuccess Software Premium Cloud Service.
- Modules implemented: Financial Management, Order and Billing Management, Advanced Procurement, Services Resource Planning, Advanced Revenue Management, Fixed Assets Management, Advanced Electronic Bank Payments Cloud Service
- Developed data migration strategy for legacy financial and non-financial elements including accounts, customers and vendors, projects, open transactions, and prior periods’ revenue.
- Implemented inbound or outbound automation for:
- Secure Host-to-Host Payment File transfers from NetSuite to Bank for various payment file formats of ACH, Domestic Funds Wire Transfer, Cross Border Funds Wire Transfer, SEPA, and BACS.
- Secure Host-to-Host CAMT.053 bank statements integration from Bank into NetSuite to generate Customer Payments.
- Customer and Sales Order creation from Apttus to NetSuite.
- Order cancellation resulting in Return Authorization document generation from Apttus to NetSuite.\
- Customers’ credit limit integration from NetSuite to upstream systems to review creditworthiness at each transaction, helping the management to make decisions like whether to approve or decline new business
- Single Sign-on implementation on Microsoft Azure to provision seamless access to multiple applications
- Customized solutions for automation of Procure-to-Pay business process including:
- Delegation of transactions approvals
- E-mail notification on Supplier ACH payments
- Purchase Order generation on Requisition approval
- 2-way matching for multiple bills with reference to a Purchase Order
- Customized solutions for Project-to-Cash business process including:
- Auto project generation from sales order and intimations through email notifications
- Customized Invoice printing features including Proforma Invoice generation
- Print Facsimile signature on Checks
- Reports & Dashboards pack for all areas, with the notable ones being revenue management, forecast billing, and Transaction holds.
- Global financial consolidation and real-time visibility into financials of 8 subsidiaries.
- Reduced duration for reporting month and quarter closures, enhancing productivity. Finance close time reduced by 40%.
- Improved financial analytics, auditing and profitability analysis. Audit preparation reduced by 54%.
- Best-in-class project management solution which helped them track resource allocation, costs and margins at each project level also helped in increasing the professional service productivity by 42%.
- Automated Procure-to-Pay business process reducing user manual intervention, quicker approvals, increased employee productivity, automated payables scrutiny, automated notifications to suppliers.
- Streamlined the Order to Cash Process, 45% increase in order processing efficiency.
- Fixed Assets implementation resulted in automated calculation of depreciation and related financial impact, gain or loss on retirals, tracking of the asset locations.
- High scalability, leading to greater preparedness for future growth opportunities.
- IT Support resource cost reduced up to 45-70%