RSB Group Reconciles Monthly Financial Data 50% Faster, Improves Regulatory Compliance and Reporting Processes
 
 

RSB Group Reconciles Monthly Financial Data 50% Faster, Improves Regulatory Compliance and Reporting Processes

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Established in 1975, RSB Group is a diversified engineering company that designs and manufactures automotive components and systems, and construction equipment and mining aggregates and delivers them to original equipment manufacturers (OEMs) in India and around the world. The company has 14 plants—11 in India, 1 each in Belgium, the US, and Mexico.

To keep up to date with India’s dynamic regulatory environment, RSB Group upgraded its enterprise resource planning (ERP) platform to Oracle’s JD Edwards EnterpriseOne Financials 9.0, implementing the localization feature to ensure its daily business and operational activities complied with the country’s statutory and industry regulations. In addition, RSB Group implemented Oracle Business Intelligence Publisher to improve its document management processes. The upgraded system has enabled RSB Group to track, record, and store its business transactions and operational data in real time. The company has reduced the time spent reconciling monthly financial data from four days to two days to meet its end-of-month tax and quarterly financial reporting deadlines.

RSB Group also plans to make its ERP platform available on mobile devices, such as tablets, to allow staff to access real-time business and operational data while on the plant floor.

 
 

 
 

Challenges

A word from RSB Group

  • “We considered other vendors, but the value JD Edwards products delivered to our business made them a top choice. We can now reconcile our monthly financial data 50% faster, and have been very impressed with Oracle’s ongoing support, so we will continue to use JD Edwards in the future.” – Anil Koul, Head, Group IT, RSB Group

  • Upgrade ERP system to comply with local statutory and automotive, construction, and mining industry regulations
  • Improve the tracking, recording, and storage of business transactions and operational processes to meet financial and taxation reporting requirements
  • Improve the management of customer-facing documents, such as sales orders and purchase orders, to ensure a high level of customer service

Solutions

Oracle Product and Services

  • Reduced time spent reconciling monthly financial data by 50%—from four days to two days—to meet end-of-month tax and quarterly financial reporting deadlines
  • Cut the time needed to reconcile company net tax from three to seven days to real time, improving the accuracy of tax reporting processes, such as generating excise and service tax reports
  • Enhanced compliance with statutory and automotive, construction, and mining industry regulations by using the localization feature to update business transactions and operational processes, according to Indian requirements
  • Eliminated manual bookkeeping processes by automatically updating in real-time company credit and debits into the system for Indian taxation purposes
  • Ensured a high level of customer service by improving the management of customer-facing documents
  • Expected to increase staff productivity and mobility by enabling access the ERP platform on mobile devices, such as tablets

Why Oracle

RSB Group has been a JD Edwards customer since 2004. The company chose to stay with JD Edwards because it was confident JD Edwards products would continue to meet its business needs.

“We considered other vendors, but the value Oracle’s JD Edwards had already delivered for our business made it the top choice,” said Anil Koul, head, group IT, RSB Group. “Not only does Oracle deliver value to its customers, the company also provides ongoing support for its technology. I am impressed by the customer service Oracle provides, regardless of the query and will continue to use JD Edwards products in the future.”

Implementation Process

RSB Group was previously running JD Edwards EnterpriseOne 8.10 as its ERP platform. The company engaged Oracle Specialized Partner Ivitesse, a division of RSB Industries, to upgrade to JD Edwards EnterpriseOne Financials 9.0 and Oracle Business Intelligence Publisher. The upgrade took 12 months to complete.

The new ERP platform went live in October 2012.

Partner

Ivitesse provided RSB Group with a wide range of services, including platform technology migration, customization of its financial reporting and business cataloging processes, validation testing for the JD Edwards EnterpriseOne localization feature, and post-implementation routine support.
 
“Ivitesse had extensive experience in deploying and upgrading JD Edwards solutions, and we were confident the staff could deliver the end result we wanted,” Koul said. “We are happy with its services and will continue to grow our business with Ivitesse.”