Streamlining Invoicing & Forex Tracking for the Automotive Industry

Industry

Automotive | Manufacturing

Technologies

MS Dynamics AX 2012 R3 | SQL SERVER 2012 R2 | SSRS Reporting

Client

Our client is a leading Indian manufacturer of automotive clutch components, established in 1972, with decades of expertise in the foundry industry. The company supplies high-quality clutch components to top vehicle manufacturers in India, the United States, and the United Kingdom.

Challenges

The client faced multiple challenges in their business operations due to the lack of an efficient ERP system:

Difficulty in inventory planning and material requirements planning (MRP)

Inefficient tracking of cost and material consumption

Lack of a proper system for generating supplementary invoices for price changes after sales invoices were processed

Inaccurate calculations of Forex Gain/Loss in export transactions due to incorrect exchange rate capture

A customized Free Text Invoice required for supplementary invoicing without affecting inventory

A single-click selection for invoices to be included in supplementary invoices

Automated integration of currency exchange rates for accurate transaction bookings

Solution Provided

To address these challenges, we implemented Microsoft Dynamics AX 2012 R3, providing:

A customized invoicing system to generate supplementary invoices seamlessly

Automation of exchange rate updates for precise Forex Gain/Loss calculations in export sales

Improved invoice selection process, enabling single-click selection of invoices for supplementary invoicing

Automated notifications for pending invoices, ensuring timely payments

A structured invoicing and documentation process for improved compliance

Results

The implementation of the ERP system brought significant improvements:

Time savings in supplementary invoicing

Accurate Forex Gain/Loss calculations, ensuring profitable transaction bookings

Improved cash flow management with automated tracking of past-due invoices

Better accuracy in cost and consumption tracking, leading to optimized resource allocation

Enhanced efficiency of the collection department, reducing delays in payments

Similar Customer Stories

ERP Solution for US-Based Construction Company’s Business Challenges

Mitsui Home North America (MHNA) enhanced business management by implementing Dynamics 365 ERP, leading to improved efficiency and cost accuracy.

Enhancing Sales Efficiency for an Engineering Solutions Firm

An engineering firm automated proposal generation, reducing time from 2 days to 2 hours, improving efficiency, accuracy, and sales performance.

US-Based Tech Firm Optimizes Collaboration Platform Efficiency

A US-based tech firm streamlined its collaboration platform by consolidating multiple deployments, reducing costs, and enhancing scalability.

Let's Discuss Your Requirements

I want to sign an NDA.

By submitting this form, I confirm that I accept the Synoverge Privacy Policy.