Case Study

Optimizing Financial Operations for a Manufacturing Giant

Sector: Manufacturing

Overview

Streamlining financial and operational processes with Oracle ERP

A global manufacturing giant with $5 billion in annual revenue was suffering from operational inefficiencies due to outdated financial and procurement systems. Financial reporting was largely manual, leading to frequent errors and delays that impacted decision-making and business agility. Procurement processes were similarly inefficient, with a lack of integration leading to missed cost-saving opportunities, overstocking, and frequent supply chain delays. Project management systems were also fragmented, leading to delays and budget overruns in major projects.

Skild Solutions stepped in to modernize the company's financial and operational processes by implementing Oracle ERP. The system automated financial reporting, cutting down the time to close quarterly books by 50%, while integrating procurement processes to enable better supplier management and cost optimization. By enhancing the company’s project management tools and integrating them with finance and procurement, Skild Solutions reduced project delays by 20% and increased the company’s ability to meet deadlines. This digital transformation provided significant cost savings and improved operational efficiency.

Challenges

Manual financial reporting processes that were time-consuming and prone to errors.

Lack of visibility across procurement operations, leading to inefficiencies in the supply chain.

The lack of real-time access to financial data made it difficult for leadership to make timely, informed business decisions.

Ensuring compliance with financial regulations was becoming increasingly difficult due to the manual nature of the reporting process.

The company’s project management systems were disconnected from financial and procurement systems, leading to project delays and budget overruns.

Automated Financial Reporting

By automating the company’s financial reporting processes, we reduced errors and shortened the time required to close the books. Financial data could now be accessed in real-time, allowing for faster decision-making and greater accuracy.

Procurement Optimization

We integrated Oracle ERP’s procurement features, enabling the company to streamline supplier management, automate purchase orders, and track procurement performance. The system provided visibility into supplier contracts, ensuring that the company could take advantage of bulk discounts and other savings opportunities.

Integrated Project Management Tools

Oracle ERP’s project management capabilities were fully integrated with the company’s financial and procurement systems, allowing for better tracking of project costs and timelines. This enabled the company to stay on budget and meet deadlines more consistently.

50% Faster Financial Reporting

The time required to close the books each quarter was reduced from 30 days to 15 days, significantly improving financial visibility and decision-making.

15% Cost Savings in Procurement

By optimizing procurement processes and taking advantage of supplier discounts, the company achieved a 15% reduction in procurement costs, amounting to savings of over $10 million annually.

Improved Project Delivery

The integration of project management tools reduced project delays by 20%, helping the company complete projects on time and within budget more consistently.

Enhanced Financial Control

Real-time financial data allowed the company’s leadership to make informed decisions quickly, leading to a 10% improvement in overall financial performance.

Our solutions are designed with a customer-first approach.

We take care of end-to-end implementation and offer comprehensive support services.

We are proven, trusted partners of top-tier companies across sectors such as finance, banking, insurance, and retail.

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