Grasim Industries Ltd., a flagship company of the Aditya Birla Group, has two core businesses: viscose staple fiber (VSF)––a versatile man-made fiber derived primarily from wood pulp––and cement. It also manufactures chemicals and textiles.
The company has a 9% share of the global VSF market, is India’s leading cement producer, and the country’s second-largest producer of caustic soda, used in producing VSF. The international company also has a number of joint venture projects: three in Canada, one in Sweden for wood pulp production and one in China for VSF production.
With a complex organizational structure, Grasim Industries needed a simple and easy-to-use financial management solution to improve data integrity in meeting statutory requirements for business divisions in different geographies and spread across a range of industry segments.
“Oracle Hyperion has served us well for a long time, so there was no question of looking to other vendors. We decided to migrate to Oracle Hyperion Financial Management because of its attractive new functionality, such as intercompany eliminations and multicurrency translation. It has enabled us to reduce compliance costs and risk, two critical advantages for a company with globally diverse business needs,” said Sharad Agarwal, assistant vice president, finances, Grasim Industries Ltd.
Grasim Industries implemented Oracle Hyperion Financial Management in four phases—management reporting; tax reporting; income tax compliance and daily balance and cash flow reporting. Aditya Birla Group in-house IT team worked closely with Oracle partner Thirdware Solution during the implementation. The new system went live in June 2012 and experienced no business disruptions. The whole experience was smooth and problem free.
Grasim Industries worked with Oracle Platinum Partner Thirdware Solution for the migration to Oracle Hyperion Financial Management.
“We are very happy with Thirdware Solutions, as its team assisted us with our previous Hyperion implementation six years ago. We have partnered with them since and have confidence in their ability to maximize the benefits gained by using Oracle Hyperion Financial Management,” Agarwal said.