Bajaj Electricals streamlines financial reporting with Oracle EPM Cloud

The electrical equipment manufacturing company, Bajaj Electricals has recently consolidated its financial reporting capabilities and and finance operations with Oracle Enterprise Performance Management (EPM) Cloud solutions.

Started as a part of its digital transformation project for internal processes, Oracle EPM cloud has allowed the organization to experience the agility needed to grab the opportunities coming its way from the rapidly changing business climate.

Bajaj Electricals operates 19 offices across the country and manages a chain of thousands of distributors and authorized dealers, over 2,00,000+ retail outlets and 450+ customer care centers. 

The company had been looking to transform its information systems to create more-compelling customer experiences. But, segment reporting was a big a challenge for the organizations with user-based platforms, where data used to lie in user computers. Plus, there was no data confidentiality as the strategic business numbers and figures were circulated across all team members.  Hence, it was looking for a solution which is available, scalable, secure, and addresses all these concerns. 

CA Binda Misra, VP-Finance and Accounts, Bajaj Electricals Ltd. said, "We consolidated our financial reporting in Oracle EPM cloud and gained significant reduction in reporting time, thus enabling greater scalability. It also helped us drive better insights and controls thereby enabling us to make decisions more confidently. Also, a cloud solution proved very helpful, as we need not worry about the scalability of the system as any number of users can be deployed."

The whole implementation process was completed in about four months without any hiccups.

"Oracle's digital strategy includes an overall digital vision, roadmap, initiatives, governance structure and how it should be implemented. Hence, we were totally convinced to go ahead with this partnership to deal with the disruptive market conditions and modernize our business," said he.

The company aims to create a quick, lean and efficient organization, that can enhance the quality of life of its customers. Hence, in addition to Oracle EPM cloud, it is also using bots powered by Oracle on its website to address service requests and other queries by end consumers.