Having four major lines of business and three TV channels, a newly established media organization headquartered in Mumbai, was planning to diversify into regional language space. The goal of the organization was to foray into the Indian Media sector and establish itself as a leading player.
The company has its operations in Mumbai and Delhi. Each channel was operating separately and their financial information was also maintained separately. In both of their offices, they were using a standalone legacy accounting system for managing their day-to-day operations and relevant financial information. With customers and suppliers being the same, it became difficult to manage the operations individually for the channels. Also, calculating the costs and revenues for channels individually was becoming difficult. Due to these difficulties, the Management went on to implement Ramco OnDemand ERP - financial management software solution for managing their financials. This worked out very well especially in accordance with the dynamics of the media organization.
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 targeted an 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 OnDemand ERP solutions with the following modules were implemented.
Post Implementation, the company could operate from multiple locations at ease. They were able to analyze the profits according to the cost-center. Additional advantages were – TDS mapping and auto deductions, statutory report generation, cheque printing, automation of TDS certification and end-to-end analysis and reporting.
Click here to know more about this case study.