Escorts, an automotive manufacturing company in India, has deployed Oracle E-Business Suite and achieved 50 percent cut in financial reporting time.
The company consolidated four ERP systems onto Oracle E-Business Suite to make business processes more efficient and increase revenue opportunities.
“We wanted a standardized ERP platform to increase enterprise-wide transparency and ensure interoperability between our four lines of business. Because of our prior experience, we were confident that Oracle had the best answer to our requirements,” said Vipin Kumar, group CIO, Escorts.
The deployment of the standardized ERP platform has enabled Escorts to accelerate its supply chain process and improve decision-making across its four lines of business. This apart, Escorts automated supply chain operations to enable faster responses.
Escorts has also improved its inventory and warehouse management, which has increased revenue opportunities and enhanced customer satisfaction.
Before deploying Oracle ERP solutions, Escorts’ business units used separate enterprise resource planning (ERP) platforms, which resulted in disparate operating and control processes and created difficulties for management.
Oracle Financials has supported Escorts to implement a shared-services business model to centrally manage all financial activities, including accounting, taxes, and fixed assets. Escorts can complete their financial reporting on the fifth day rather than the tenth day of the next month by using the integrated workflow and automated data consolidation.
Escorts – by deploying Oracle Discrete Manufacturing – has automated all key procurement and manufacturing processes, from planning and procurement to manufacturing and fulfillment. The company gained real-time data availability for supply-chain cycle and enabled faster responses to market demands to bolster revenue opportunities.