ERP for a financial services Company
Overview: Transition accounting and financial reporting requirements of one of the largest financial services company from their legacy global ERP system to IDOS.
Challenges: The company, a listed entity, was keen to replace their existing ERP owing to difficulties in implementation and revision of internal financial controls on the ERP. Further, it was cost- prohibitive to upgrade and simultaneous compliance with regulatory changes was a challenge, given the lack of trained resources to maintain the ERP architecture. The client needed an easy to deploy, customised product that could adapt to changes that would be encountered upon ERP transition.
IDOS Solution: IDOS customised its platform to ensure that the capabilities correlate to the requirements of the company and deployed the solution in advance i.e. 2 weeks before the scheduled date.
Results: The customer was able to go-live in a smooth, hassle-free manner. IDOS helped in migration of data from the legacy ERP to ensure that the transaction history was readily available. The company deployed IDOS across multiple branches in a seamless manner. This was achieved with consistency in transaction processing, effective compliance across multiple locations, absence of additional costs from manual supervision and control. With a future-ready software system, the company is well-poised to meet all future demands, irrespective of size, scale and scope of operations.