Mining & Metals

India’s leading aluminium producers, Cuts Forex Losses and Boosts Savings with Automated Risk Management

Bharat Aluminum Company Limited (BALCO), a Vedanta Group company, is a pioneer in India's aluminum industry. Renowned for its state-of-the-art technology and sustainable practices, BALCO contributes significantly to India’s industrial landscape, powering diverse sectors including automotive, construction, and renewable energy

Challenges

• Fragmented Investment Process: Investments involved multiple steps managed by different individuals, leading to delays and manual errors.

• Data Consolidation Across Functions: Treasury functions were managed in separate files, causing duplication and tracking challenges.

• Manual Forex Deal Calculations: Forex deals and tracking in Excel increased errors and time consumption.

• Market Volatility: Fluctuations in rates and prices impacted cash flows, forex, and hedging, complicating real-time decisions.

Benefits

• Improved Forex Risk Management: Automation saved 5-10% on hedging costs by enabling timely, data-driven decisions.

• Optimized Fund Utilization: Real-time visibility improved fund deployment efficiency by 15-20% and ensured timely investments.

• Time Efficiency: Processing times for investments, fund transfers, and forex deals reduced by 30-40%, boosting efficiency.

• Cost Savings: Automation cut errors, lowering rectification costs and penalties while optimizing cash flows to reduce borrowing costs.

• Enhanced Accuracy: Automation reduced manual errors by 90%, improving accuracy in accounting and reporting.

Client Feedback:

Amit Gupta, CFO, BALCO

"“Partnering with IBSFINtech has been a game-changer for us at BALCO. Their automation solutions have streamlined our treasury operations, cutting down manual effort and boosting efficiency. With real-time visibility into cash flows and exposures, we’re able to make quicker, smarter decisions. IBSFINtech has also strengthened our risk management, compliance, and internal controls, helping us mitigate risks and reduce errors. Thanks to their support, we’ve optimized our fund utilization and positioned ourselves for future growth”"