Exports shipment – Innoval Digital Solutions Pvt Ltd https://www.ivldsp.com Value delivered thro innovations Tue, 07 Jan 2020 12:13:10 +0000 en-GB hourly 1 https://wordpress.org/?v=4.4 Intelligent Enterprise in India – a precursor https://www.ivldsp.com/intelligent-enterprise-in-india-a-precursor/ Mon, 28 Oct 2019 09:51:16 +0000 https://www.ivldsp.com/?p=5926
About the Author

Manoj P

ASSOCIATE DIRECTOR ( Product Life Cycle Management). Information technology leader with outstanding track record of success in designing, delivering and supporting business-aligned technology solutions on a global scale for Industry-leaders across verticals. He has 28+ years of industry experience, including 19 years in SAP with IVL.

One of the key focus areas of SAP TechEd 2019 at Las Vegas & Barcelona was on how to leverage SAP Innovations to help organizations become Intelligent Enterprises for innovation, customer experience and growth. SAP TechEd 2019 Bangalore is also focused in this direction.
The buzzword that is the “intelligent enterprise” would invoke random thoughts of smart applications using Internet of Things (IOT), integration, Machine Learning, Robotics process automation (RPA) and host of other innovation to improve the user experience, and to convert digital data into business value.

Before becoming an intelligent enterprise one has to be a digital enterprise first.

Are there manual processes that depend on the clerical expertise of experienced personnel? For example, is the Exports documentation being done in a glorified word-processing application outside the ERP landscape? When an Exports shipment happens late night, are Exports executives staying awake to ensure that the Exports documents were error-free and in line with the Exports Letter of Credit kept in one among the many office cabinets? Is there a way to capture Exports LCs, Vendor invoices and Imports Bill of Entries into the ERP application? Are the tax managers spending hours to download and process GST data using various versions of spreadsheets held in file-paths / workstations that only a few people know? Are the Tax Returns (GSTR1 for instance) being done without manual interventions directly from the ERP? Does the Return filing end up with error at GSTN due to an incorrect GSTIN number keyed in manually under the master data? Does the GST vendor reconciliation process involve manual downloads, “VLOOKUP’s and still end up with discrepancies due to data differences between the ERP and the GSTN?

A truly digital solution would do away with data downloads / redundancies and encourage collaboration. Forget hard-copies for manual data entry, even emails with PDF attachments would soon be considered passé, if not already. The smart users would expect collaboration (shared data) to minimize data entry. If this is not possible, they would expect OCR based solutions to extract electronic data from email attachments or scanned documents. SOPs would give way to workflows and even workflows would give way to empowerment, with certain delegation of powers.

artificial-intelligence
It is not just about manual data entry. What a Digital Enterprise does with the data is equally important.

How agile are the users and managers? Are they focusing merely on timeline-driven compliance? Is the cash-flow improvement opportunity being evaluated seriously? For example, are the Exports benefits being processed efficiently to reduce tax payments in purchase? Are GST Refunds for exports handled effectively? Is the input tax credit (from vendor invoices) at risk due to vendor delays/errors that are identified well after the period is closed? Are there checks and balances to evaluate vendor compliance and link it to the Accounts Payable process? Are decisions being taken by individuals themselves (without looking at the data insights) and merely executing their ad-hoc decisions using the software in hand?

Once the digital data is available in ERP – quickly and without much manual intervention – sky should be the proverbial limit for the intelligent enterprise. Important decisions like restructuring of sales distribution network under GST regime, preferred partners/ geographies to do business with, predicted tax liability based on static orders and dynamic trends can be taken by Enterprise with the intelligent insights.

Given the manual steps mentioned above, that could be prevailing in many organizations; the intelligent enterprise may look a distant thought. However, these are minor impediments as there are smart applications available now. The stimulus for an organization to become an intelligent enterprise is likely to come from the industry itself rather than from the compliance authorities. The need to remain competitive is one obvious reason. Another potential push would be from the changing user profile within an organization. The smart generation is getting to the workplace now, if not already. They are used to smart applications for personal and domestic needs, and are well connected with their peers using social media. The combination of smart workforce and demanding customers is likely to make the intelligent enterprise come alive in no time.

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Smart Workforce https://www.ivldsp.com/smart-workforce/ Mon, 28 Oct 2019 08:32:10 +0000 https://www.ivldsp.com/?p=5914
About the Author

Manoj P

ASSOCIATE DIRECTOR ( Product Life Cycle Management). Information technology leader with outstanding track record of success in designing, delivering and supporting business-aligned technology solutions on a global scale for Industry-leaders across verticals. He has 28+ years of industry experience, including 19 years in SAP with IVL.

When was the last time you multiplied a 4 digit number with a 3 digit number without a calculator or an electronic spreadsheet? Other than, of course, multiples of 100?
  • If someone asks this question to a smart, young professional, chances are that you would get a reply: “What is the big deal? Why should I do the math in my mind or with a paper and pen, when I can get the result quicker using the calculator app in my smartphone? And I don’t have to recheck the math that way”

    Gone are the days when people marveled at the computing capabilities of shop-keepers, traders and mathematicians. If you have an easier, quicker and more reliable way to solve a problem, do it that way. That would, justifiably, be the attitude of the smart generation.

  •  smart-workforce
Now the catch is here…. This smart generation is getting to the workplace now, if not already. They are used to smart applications for personal and domestic needs, and are well connected with their peers using social media. They might work as understudies to senior managers and accountants who are soon to retire.

The senior generation, by virtue of having worked in the same industry/organization/department for years, had information at the back of their mind. They often knew more than what their computers would know. They took the important decisions themselves and merely executed those decisions using the available software. These were the indispensable professionals. They could not afford to take long vacations without getting calls from the stakeholders at office. If there was an Exports shipment happening late night, they needed to stay awake and ensure that the pre-shipment documents were error-free and in line with the Exports Letter of Credit kept in one among the many office cabinets. If the tax-filing deadlines happen to be on a weekend, these trusted seniors could still be expected to stay late on the Friday to finish their tasks using multiple spreadsheets and manual registers. They thought they sacrificed their time and personal comforts for their work. To be fair, they did not have smart robust applications to rely upon. They didn’t demand it either.
What of the smart generation who are soon going to take their place in office?

The smart professional may not stay in the same department – leave alone the same organization – for long. They would look for smarter alternatives if their job required manual computation, adherence to unwieldy SOPs and/or glorified word-processing or spreadsheet activities. They would look for a creative work atmosphere where their time can be used for problem solving and innovations.

They would expect automation, collaboration & smart-apps to be in place, without worrying if these would reduce their indispensability at work.

Beware, the smart workforce could question the status-quo and trigger the transition to the intelligent enterprise sooner than later.

And yes, do not expect them to do math at workplace using a glorified calculator.

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