| An appLOAD™ Case Study - Patel Logistics |  |
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Based in Mumbai, Patel Integrated Logistics provides door-to-door logistics, international freight forwarding, land, sea, and air transportation, warehousing, and secondary distribution services. The company comprises eight divisions and employs 1,000 staff in 500 offices across India.
Solution
- Engaged Oracle Certified Partner Chain-Sys Corporation to deploy Oracle E-Business Suite to streamline the account consolidation process and improve financial management
- Supported a quick return on investment by using Oracle Accelerate methodology to capture business requirements, automate the configuration process, and go live within 45 days
- Enabled staff at 500 locations to transmit financial data electronically rather than sending hard copy spreadsheets by integrating the Oracle system with the company’s Microsoft Web-based, .NET applications for two divisions
Challenges
- Replace a local accounting package that could not support the efficient consolidation of financial data from 500 locations
- Centralize the financial operations of eight divisions and integrate two ERP systems onto one corporate finance solution
- Implement best practices in financial management to improve efficiency and maintain high accounting standards
- Shorten month-end consolidation time to ensure reports can be submitted to managers and external regulators on time
- Minimize deployment time to meet budget constraints
Benefits
- Cut month-end closing time from 50 days to 35 days
- Enabled the forecasting of cash flows across various businesses to ensure cash cycles are managed more efficiently and fraud and exceptions can be picked up
- Generated quarterly financial statements to comply with the Stock Listed Companies Act
- Tracked transportation vehicles and their operating costs
- Calculated depreciation on various assets across 500 locations
- Controlled operation costs through more efficient use of manpower in various departments
- Improved data accuracy by eliminating manual data entry