Leading fertilizer company Treasury & Trade Finance digital transformation

How is India’s second largest Phosphatic fertilizer player transformed their Treasury & Trade Finance function ensuring better control on the operation?

How is India’s second largest Phosphatic fertilizer player transformed their Treasury & Trade Finance function ensuring better control on the operation?

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currency risk solution, ERP, Fertilizer, Forex, Trade Finance, TRTFM

Company Background

The company is in the business segments of Fertilizers, Specialty Nutrients, Crop Protection and Retail. The company is a leader in its addressable market manufacturing a wide range of fertilizers and markets around 4.5 million tons.

Our overall experience with IBSFINtech on Treasury & Trade Finance project has been positive. They took time to understand our business and philosophy enabling practical solutions for the desired outcome. Knowledgeable lead consultants with good subject matter expertise were deployed on project. Appreciate the efforts of Mr. Manjunath Reddy, Mr. Nilesh, Mr. Jordan, Mr.Ishwar, Ms.Darshana, who worked collectively with our team in achieving the project objectives. This team assistance was commendable in attending the project requirements. On occasion of IBSFINtech’s 14th Anniversary, we wish the entire IBS team a great success in the years to come.

Santhosh Kumar U
GM – Coromandel

Challenges

Scalability: TMS activities were managed manually using excel spreadsheets which was getting cumbersome as the transactions increased
Error Prone Manual Process: Lack of TR and TF process automation was leading to inaccurate data processing and consequently inaccurate reporting and analytics
No single version of Truth: The company couldn’t accurately consolidate FX Exposure from their heterogeneous business units across the enterprise
No visibility of Bank Charges: Unable to track Bank Charges at transaction level

Solution

The Company chose IBSFINtech TRTFM^® for its capability to swiftly integrate into their existing infrastructure interface and provide complete visibility and control over the Treasury & Trade Finance operations.

The Company commended IBSFINtech’s approach for product development, product logic concepts, its conviction for ongoing product enhancements and capability of delivering customized functionalities that keep up to business requirements. In order to negate future operational risks, the company management recognized IBSFINtech as its associate partner for TMS solutions.

In the fullness of time IBSFINtech’s System was able to efficiently and effectively address the company’s key business issues and deliver a solution specific to business requirements. The Company management envisaged to leverage IBSFINtech’s System in accordance with their planned workflows.

Solution Benefits

The company was able to automate the manual treasury operations processes giving the workforce more time to focus on value adding activities
Strategic enhancement in data quality with reduction of manual data capturing resulted in more accurate reporting to the senior management.
Seamless Integration with facility of real-time exchange of data for Inbound and Outbound Interface with Logs and Alerts
Interactive MIS reports for tracking and analysis to make the hedging decisions based on real time analysis
Workflows based governance led to consistent operations within the predefined tolerances and timeline
Process efficiency gains by reducing the time consumption in repetitive tasks
Improved decision-making ability for top management by optimizing the flow of information throughout various units/divisions and integrations with external system to have real time consolidation of data to drive single instance of truth.
Automated email alerts and audit logs to ensure real time communication and track all transactions
Effective management of limits for multiple banks with real time utilization information

Key Takeaways

Highly customized solution with added functionalities based on the company’s requirements (detailed configuration with flexible solution helped addressing complex functionalities as required by the organisation)
Multiple Modules across the Currency Risk, Trade Finance operations
15+ Executive dashboards and 70+ tailored reports with 50+ sub reports/drill down
95+ Communication documents

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