Company Infomation
A newly established media organization headquartered in Mumbai, having
four major lines of business and three TV channels. The company is
planning to diversify their presence in the regional language space and
move towards their desired goal of becoming a leading player in the
Indian media sector.
Business Challenges
The
company was using a standalone legacy accounting system for their
day-today operations at their Mumbai and Delhi offices respectively.
Since each channel is treated as a separate operating unit, all
financial information had to be maintained separately. With the same set
of suppliers and customers, it was becoming difficult to uniquely
identify these units’ costs and revenues. Therefore, Ramco OnDemand ERP
was the perfect financial management software solution suiting the
dynamic demands of the media organization.
Objectives
The
organization’s goal was to streamline operations to enable ongoing
growth, as they were strategically diversifying their portfolio to
focus on growth opportunities. The company required agile and
integrated ERP solution to prepare and analyze profitability, understand
ageing of payables and receivables and generate MIS reports for each
operating unit.
Ramco’s Solution and Services
Ramco ERP OnDemand with the following modules:
OnDemand ERP Implementation
Highlights of Ramco OnDemand ERP implementation:
Multiple Locations
Configured in the same database with multiple finance books, the
companies can efficiently track their expenses and income, take separate
financial, MIS and other related reports.
Cost-centre-wise profit analysis
Departments can be defined as cost centers; income and expenditure are
booked accordingly. Reports can be generated for profitability analysis.
TDS mapping and auto deductions
All services related suppliers have been mapped according to the TDS rules and deductions before payment is made.
Statutory Reports
Printing of all statutory reports is provided by the system.
Cheque Printing
Cheque printing facility for making sundry payments, supplier payments and TDS payments.
Automate TDS Certification
The system has an inbuilt facility to record tax details thus enabling the system to capture and print TDS Certificates.
Analysis and Reporting
Reports on sales analysis, collection analysis, sales trends, cash flow and other MIS reports can be generated.
Financial reporting is provided for TB, FBT etc. Balance Sheet and
Profit & Loss has been provided in US GAAP and Schedule VI formats.
The process mapping was completed on-site in a span of three months and
the organization is using all the functionalities of the product.
Ramco OnDemand ERP has enabled the company to effectively streamline its
day-to-day activities, track suppliers, calculate cost-centre-wise
profitability and generate reports as per their requirements.
OnDemand ERP Benefits
