The client is a leading crane manufacturer in India working with a wide range of sectors across different industrial segments: Steel, Power, Construction, Cement, Shipyard, Fertilizer and Petrochemical, Heavy & General Engineering, and delivers high-end quality.
- A solution to maintain account with ease including functions such as (accounts mismatch), stock inconsistency, stock values, asset balance, depreciation amount not tallied, and many more critical issues in production planning to avoid unreliable data and make the decision-making hassle-free while fasten reporting that collectively affects the business.
- A solution to avoid stock mismatches that were caused due to incorrect posting and reversal of stocks, unmaintained physical inventory, poor maintenance of master data, and inability to maintain critical information that impacted profitability for a project.
- Avoid the transactions from being posted in incorrect GL mapping to reduce business challenges it caused for data reconciliation under various heads.
- Valuation classes were assigned incorrect GL accounts leading to wrong GL hits.
- The existing SAP ERP system wasn’t fully utilized, which hampered the efforts to achieve goals and objectives resulting in business disruption due to the misleading balance sheet and statement numbers from a financial accounting standpoint.
- To fill the gaps and rectify the existing processes, data inconsistency needed to be reduced, and the reliability of data for reporting to be ensured
- A SAP solution to implement the modules and enable an automated and streamlined system inconsistency and segregate duties properly.
- Transformations into existing processes, implementing modules like COPA, internal order, product/project costing, and dunning process were recommended.
- Skilled and efficient consultants: The solution required efficient and skilled SAP functional resources having good knowledge of configuration and in-depth study of the business process. Our team advised the client to adopt standard procedures and provided recommendations for the same.
- Trained end users: We advised and built a user-friendly solution wherever necessary. The client’s SAP team needed specific skills and advisory for smooth operation and thus, we trained end users to follow a specific process and use different reports and made them follow the SAP standard process our solution.
- The process recommended for implementation: The client industry highly utilizes the PS module hence, we recommended them to use BOM more effectively by maintaining proper master data, project budgeting, and costing to track profitability analysis by the project for efficient planning and executing the projects.
- Implemented pipeline process: Since there was no record of bill payments, it’s being directly posted as there is no proper process. There is a direct FI posting for payment and hence we advised implementing a pipeline process for electricity and services, and a PO process for payment of securities charges.
- Implemented product/project costing: For planning costs and establishing material prices, we helped in estimating the cost of goods sold, manufactured, and COGS for each product unit.
- Assisted client to examine the general effectiveness, efficiency, and economy of processes, systems, controls, and performance in an operational unit.
- Helped client to know the risks and remedies to reduce the loss due to various risks, practices, and operational processes
- Recommendations helped to focus on critical issues, and improvement areas, to have more efficiency and effectiveness, and eventually, fully accomplish organizational goals
- Inadequacies and weaknesses were addressed to ensure no material deviations from the SAP best practice guidelines
- High-risk areas were identified and given priority for resolution during a system-based audit
- Advised client on several issues that required compliance with legal and regulatory requirements
- Advisory has helped clients with a comprehensive report which identified issues and deviations of industry best practices, risks, resolution, and resolution of issues reported.