INTERVIEW OF THE MONTH
INTERVIEW WITH MR. NITIN PARMAR
Sr Vice President – Information Technology ( Global CIO )
Intas Pharmaceuitcals Ltd.
How do you believe that digital transformation has shaped the way the finance function of today works?
• Digital is the new norm – reality for finance and business. Automation of Financial processes are not limited to ERP now.
• Technology and digitalization have crossed boundaries globally and have extend financial arms to vendors, customers, suppliers, bankers and government.
What kind of innovations are now available in the Accounts Payable function to bring down cycle time and costs?
- Digital approach of Vendor Invoice processing has transformed Accounts Payable function more efficient, quick and accurate. Resulted enhanced cash flow, worker productivity and improved vendor relations. It simplifies process of invoice receiving, managing, routing, processing, documenting and retrieving.
How important is information capture in this whole transformation journey? What are enterprises doing in the space of information capture?
- Digital transformation journey is not only process automation but capturing information in the form of scanned documents, pictures, voice, video and other file formats. Converting them into meaningful reports and dashboarding though Analytical and AI tool is the need of an hour. Realtime process controls and business visibility is in high demand. From cloud computing and robotics to analytics, artificial intelligence and cognitive technologies, a new class of digital disruptors is transforming how Enterprise business gets done.
Can you highlight some of the key technology innovations at Intas in the last couple of years? What kind of business benefits has it yielded?
- Intas is going through digital transformation journey worldwide since last couple of years. Some of the innovative projects undetaken are as below
- Adopted could journey and moved 60% of the workload on Microsoft Azure cloud. Resulted scalability, security and high availability of the applications.
- All users are migrated on Microsoft Office 365 technology. Resulted quick and efficient collaboration though email, skype for business and SharePoint.
- Rolling out of SAP ERP globally and integrating warehouses resulted accurate visibility and control to the business needed for competitive edge.
- Automation of AP process though Vendor Invoice Management solution (SAP VIM – OpenText) have improved efficiency and accuracy. Stakeholders involved in any invoice problem, quickly and efficiently able to access information such as relevant PO number, status of the invoice payment and more. This solution routes invoices automatically to right person for resolution, approval and payment. Running digital results in short approval cycles, eliminate duplicate payments and helps vendor gets paid sooner.