Incorrect ERP implementation challenges
Challenge
- Unable to finalise the Balance Sheet in 8 months FY close
- Unable to provide requisite information to auditors from new ERP.
- Incorrect filing of VAT/ Excise and Service Tax returns.
- No monthly reporting of financials
- Required excess resources
Recommended Solution
- Root-cause analysis revealed, implementation gaps in accounting flows, inadequate reports/data were n the new ERP.
- Resulted in manual records for statutory compliances; like VAT, Excise, Service Tax Etc.
- Root-cause analysis revealed lack of user awareness and training leading to incorrect and inefficient manual processes.
- Suggested the action plan in three categories; detective, preventive and ‘to-be-process’ applicable for all stakeholders including IT.
- Organised training for the users and formed a team of Super- users for better hand- holding with the users
- Recommended process changes to restrict duplicacy and redundant process
- Recommended IT for development of reports for indirect taxes.
- Periodic review with steering committee
Benefits
- Project delivered successfully with all user issues addressed
- Manual and redundant process were done away with improve and brought efficiency.
- Monthly financial closing put in place to ensure real time accounting.
- Implemented SOPs and SLAs.
