Practus’ performance improvement and Business transformation Solutions enabled the finance company to automate P2P processes and order-to-cash processes.
|Client||ROI||Industry||Ownership||Management||No. of Employees||Size||Project Duration|
|A Finance Company||5X**||Petrochem||Public Ltd||Professional||~100||$650 million||12 months|
About The Company
It is India’s largest producer and exporter of polystyrene polymer, and it required assistance in improving its performance. In certain product lines, it has a market share of more than 50% in India. Not to mention that the finance company is India’s largest exporter, with shipments to over 93 countries worldwide. The company also owns and operates a cutting–edge facility with an installed capacity of 272 K TPA, as well as a coloration and compounding facility with a capacity of 17 K TPA. In India, the company operates a 6KTPA EPS plant.
Practus’ Role in Performance Improvement
- The O2C, P2P, and B2R processes have been improved, with a high level of automation for real-time data.
- Set up KPIs in every function to benchmark against global majors.
- The project oversees the optimization of SAP Hana as well as the correction of various flaws in earlier implementations.
- Above all, Practus implemented product costing for the large process plant, which enabled the company to improve their daily production planning.
Impact Delivered in Performance Improvement
- Automated the Order-to-Cash Process to ensure accuracy through automated checks and to reduce effort in checking freight invoices and generating credit notes.
- P2P process has been automated to ensure updated inventory records, improved process efficiency, and reduced managerial efforts.
- Practus brought in speedy completion of month-end reports and comfort for all stake holders.
- Optimization of SAP by the Practus team led to the Annual Business Plan being generated with a monthly or quarterly breakup. Therefore, quarterly rolling forecasts are made and an annual, quarterly, and monthly cash flow statement is generated for the management to make business decisions.