CIO Wall

Ajay Kumar Patodia

CFO & CIO - Lux Industries Ltd.

CIO Perspectives

What prompted you to embark on the IT transformation journey?

After SAP HANA has been implemented, the result is faster for financial closing, as well as available analytics and dashboards that stream real-time information for faster decision making.

The financial closing process is significantly improved, and the instant visibility of P&L (profit and loss) ensures business decisions can be made quickly, based on emerging sales and financial trends. We are able to control our sales process through more than 20 depots, 200 agents and 2000 distributors all over India.

It eliminates the need for batch jobs and data replication in other systems, such as business intelligence. We have implemented Business Objects directly connected with real time HANA database. It helps ensure real-time and accurate reporting through Mobile Device: Group Company - Profit & Loss and Balance Sheet, Account Payable, Distributor, Depot, Agent, Inventory, Advertisement, Assets accounting, Export Business with multi-currency etc.

Cash management: Replacing the cash and liquidity management component, the cash management feature manages bank account management, short-term cash position and liquidity forecast reports, and real-time liquidity planning, thereby allowing for tighter cash management for an optimized working capital.

Financials reporting: This feature replaces many of SAP's traditional drill-down reports that are not only slow, but that also do not dive deep enough to provide in-depth analytics on important financial key performance indicators.

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