Cyber News Service
SAP India has announced the implementation of its SAP R/3 FICO (financial and Control) module at VSNL to streamline its financial accounting process across the country. The FICO module is designed to consolidate the financial status of an organization on a real-time basis, and with this installation, VSNL will be able to consolidate its financial accounting data from all its centers for online business analysis.
SAP R/3’s FICO module comprises an online enterprise interface that enables VSNL to capture the accounting and costing process related to products, customers and services to build a backbone for budgeting and control. The solution links VSNL’s network of 17 offices across India and integrates their different accounting packages with the headquarters in Mumbai, thereby enhancing the efficiency to perform quick audit of all financial transactions.
“With the implementation of SAP R/3, VSNL has established a base platform for a common on-line database that has resulted in standardization of core financial business processes and implementation of best practices. It is the first step in the company’s objective of achieving competitive advantage in the marketplace that it operates in and, is part of a larger strategy that covers IT tools and solutions for optimizing business processes, data analysis and new initiatives in the field of finance and control”, said, Amitabh Kumar, Managing Director,