Precision automotive parts Ltd, is a mid-sized company, specialising in automotive parts production, with an established market position, and high revenues. However, the company’s business systems structure was significantly old and discontinuous.
Recognising the need for modern, integrated applications to streamline operations and improve financial reporting, they faced a significant challenge: However, its internal IT team was not sufficiently skilled and experienced to undertake the change management effectively.
Challenge
Over the years, the business has found it difficult to deploy and customise various current business applications and financial systems owing to skills deficit. This resulted in operational costs’ problems, data problems and financial problems.
1. Outdated Systems
The current functional applications were old and not well synchronised resulting in the case of data management.
2. Manual Processes
Most of the financial activities were paper based, took a lot of time, and were largely involving a lot of inaccuracies.
3. Lack of Expertise
Internal IT staff were incapable of installing and setting up new business applications and financial systems because they did not possess the requisite competencies.
4. Operational Inefficiencies
There were problems in operation methods as well as in the field of finances, which reflected in low productivity and grave losses.
5. Data Inaccuracies
It was ineffective since inconsistent and inaccurate information was used to make decisions.
As for solution, Walter & Associates offers
The issues highlighted above did not go unnoticed, and when Walter & Associates got involved in assisting Precision Automotive Parts Ltd., a broad solution to the problems of business applications and financial systems implementation was provided. The solution involved several key steps:The solution involved several key steps:
Assessment and Strategy Development
1. Committed to the evaluation of the current state of affairs with regard to the systems and processes in place.
2. Established a plan of assessing new ERPs, applications and back-end financial solutions for the firm’s needs.
3. Developed specific goals and measures consistent with the organisation’s objectives, which are relevant for Precision Automotive Parts.
End of problem Solution: Walter & Associates
Due to the above challenges, Walter & Associates intervened to assist Precision Automotive Parts Ltd. with its business applications and financial systems. The solution involved several key steps:
1. Technology Selection
Helped to define the most effective business applications and financial systems necessary for successful business activity of the company.
Made sure that the selected technology was compatible with systems being used currently and would prove scalable in the future.
2. Implementation and Configuration
Managed the implementation activity of the project, thereby causing least interferences with several activities in the organisation.
Programmed the new systems depending on Precision Automotive Parts business procedures.
Implementation of several productive functional workflows in the organisation so as to eliminate various manual and erroneous practices.
3. Training and Support
Ensured that adequate employee training was given to the internal IT staff as well as the end-users of the systems.
Provided XO with work support and maintenance to fix problems as soon as possible and avoid difficulties.
4. Data Migration and Integration
Closely controlled the transfer of data from previous systems to the new applications, in order to avoid data corruption.
Typically, fragments a number of systems in the organisation to provide a coherent business entity.
5. Continuous Improvement
Created an environment of ongoing review and enhancement of the systems.
Ensured that periodic changes were made to update and improve the systems in relation to the existing and emerging business requirements.
Results and Benefits
Walter & Associates’ intervention yielded significant positive outcomes for Precision Automotive Parts Ltd Walter & Associates intervention yielded significant positive outcomes for Precision Automotive Parts Ltd. :
1. Enhanced Efficiency
They also enhanced the functioning of the processes, making them more orderly and cutting down the amount of time required for the activities to be conducted manually.
2. Accurate Financial Reporting
Accuracy and credibility of the financial data improved to enhance the performance of reporting on financial information to make adequate decisions.
3. Increased Productivity
Standardisation of processes and the right application of used technology increased a general level of productivity.
4. Cost Savings
Less errors and efficiency losses benefitted the operation by various amounts of money.
5. Empowered Workforce
Promoting the usage of the new systems involved training and support that enhanced the abilities of the employees within the organisation so as to enhance capability to conquer the challenges of the business by making new developments.
Conclusion
With Walter & Associates the company managed to eliminate the challenges that hindered the flow of business applications and detailed financial systems. Not only the concerns counter to the partnership are fixed in this case; nevertheless, the procedural system also made the company identifiable to configure constant growth and success.
Due to Walter & Associates’ strategic recommendation, accurate planning and implementation and continuous assistance, Precision Automotive Parts was able to realise the potential of new technologies bought for the company.
