The enterprise solutions included Ramco ERP fpr their financials and a legacy homegrown solution for the HCM function. Limited integration and interoperability as a result of in process, configuration gaps, had led to limited visibility into financial data, and inaccurate revenue recognition. Stakeholders lacked a accurate and 360 degree view of metrics, KPI’s profitability at various levels, impacting strategic decision-making.
Problem areas and Opportunities identified
Fragmented Systems: Heterogeneous, on-premises, and siloed systems posed integration challenges between ERP and HCM.
Data Visibility and Accuracy: Manual reconciliation and lack of streamlined processes led to inadequate financial data visibility and inaccurate revenue recognition.
Profitability Predictability: Complexities in predicting profitability at service or contract levels hindered growth strategies.
Operational Inefficiencies: Laborious statutory and management pack generation drained resources and time.
Alignment and Governance: Lack of alignment between Finance and HR operations required a robust governance structure
Approach
Integration Optimization and Vendor Selection
Collaborated with stakeholders to optimize processes and select suitable vendors to bridge ERP and HCM gaps. Key roles: Process implementers, design reviewers, implementation partners for new entity integration.
Oracle Fusion Implementation for Governance
Deployed Oracle Fusion to streamline governance, enhancing visibility into financial data. Key roles: Process reviewers, coordinators, Quarkcube platform implementers for Analytics.
Finance & HR Alignment
Aligned Finance and HR operations to ensure coherence and synergy in processes. Key role: Finance & HR Ops alignment specialists
Pricing Model Optimization and CRM Alignment
Optimized pricing models and aligned CRM strategies with the Projects module for better profitability forecasting. Key roles: CRM architects, pricing model optimization specialists
Streamlined Approval Workflows
Established end-to-end governance, streamlined approval workflows, reducing inefficiencies in statutory and management pack generation. Key roles: Governance structure establishers, coordination with tech teams.
Role-Based Invoicing Implementation
Implemented role-based invoicing to enhance accuracy in revenue recognition. Key roles: Implementation partners, key process reviewers for integration.
Overall Process Review and Alignment
Conducted a comprehensive review of processes to align EBITA and Margin, enhancing financial insights. Key roles: Process reviewers, optimization specialists for pricing models
Benefits
The strategic implementation of solutions brought about a transformative shift in the company's landscape:
Improved operational synergy and efficiency through integrated systems.
Enhanced visibility and accuracy in financial data, empowering informed decision-making.
Strengthened profitability predictions and strategic planning capabilities
Streamlined workflows and reduced resource-draining processes
Established robust governance structures, aligning Finance and HR operations for cohesive performance
Conclusion
This case study showcases how a strategic overhaul of systems, alignment of operations, and implementation of robust governance structures which led to a transformative journey for client. By addressing specific challenges through strategic solutions and dedicated roles, the company achieved a unified operational landscape, fostering efficiency, accuracy, and strategic foresight