Indian IT services vendor Infosys said it delivered a Strategic Financial Systems (SFS) program to SITA, a provider of air transport communications and IT solutions.
Also read: Mindtree announces IT deal with SITA for SFS platform
Designed by Infosys and SITA’s SFS program team, and enabled by Oracle E-Business Suite 12.1, SFS can efficiently process accounting transactions for 310 legal entities worldwide operating in 125 currencies with a globally distributed user base of 4,500 people, and support the filing of tax returns in over 150 countries worldwide.
SITA expects the SFS program will deliver, in excess of 20 percent, direct operational savings and efficiencies within the finance function over four years.
The SFS program, comprising a joint team of Infosys consultants and internal SITA resources, designed and implemented the new SFS solution, which has transformed SITA’s finance and procurement operating model by creating a Global Finance Center to manage their geographical complexity. This program has delivered a standardized and fully integrated transaction processing, reporting and analysis solution in a truly global context.
The Infosys / SITA team simplified a complex and fragmented legacy IT landscape by implementing a single global instance of Oracle E-Business Suite 12.1 and integrating it with Oracle’s Hyperion and Business Intelligence solution.
The Infosys / SITA team also deployed a new global payment platform and enhanced treasury operations functionality to drive significant improvements in cash management globally.
SFS has also made business planning, budgeting, and forecasting capabilities more efficient and helped improve resource utilization, product and project profitability calculations. This is helping finance teams at SITA deliver faster, more accurate and insightful analysis of financial performance within a target five-day close window.
SITA’s purchasing team can now extend its services to its locations globally with online procurement catalogues that aggregate and target spending to help improve buying efficiencies, and support the efficient processing of 10,000 accounts payable invoices a month.
The new SFS solution has unified and dramatically simplified master data and accounting structures for SITA, driving enhanced compliance and internal controls, and supporting audit capabilities across the globe.
Prasad Thrikutam, global head of Energy, Communications and Services, Infosys, said: “SITA can improve its day-to-day operations and provide its management with information to make faster and better decisions. It will help SITA deliver tangible business value to its customers and member shareholders across the air transport industry.”
