The Beverage Company first engaged IDOS in 2016. The Beverages Company was engaged in manufacturing, bottling and distribution of beverages, with manufacturing in Karnataka and pan India distribution.
The Company had no control on inventory of raw material, WIP and finished goods. Over a period of time the operations had become too vast and voluminous, making old accounting and financial systems inadequate. The old system was riddled with error prone manual processes, unreliable financial data and delayed reports. All this combined had led to the management losing control over operations and profitability.
The company management also wished to move to cloud in order to keep pace with competition and leverage technology. The company needed a solution to the above along with the following under liners:
- The solution needs to be end to end.
- The solution needs to be consistent with the abilities of their existing workforce.
- And the solution needs to deliver extremely high on reporting and MIS.
IDOS provided the company with an end to end ERP software that is easy to use both for the management and the employees.
The software works on a look and click UI where employees need to only click on the option and enter a few details, the heavy load of computing inventory values, applicable taxes, discounts, journal entries etc. is taken by IDOS.
For the management IDOS provides complete business position statistics and analytics, which they can view from their office or home or anywhere else. This MIS provides information of inventory levels at each of their warehouses, process analytics, product wise profitability, RoI analytics, location wise analytics, customer-vendor analytics and a lot more.
IDOS based its solution around 5 pillars:
- Automation:All repeatable processes were automated such as (but not limited to) GST computation and accounting, Invoicing, MIS, P&L, BS, Receivables Payables Tracking, Reminders, Depreciation entries, Inventory updates, TDS etc.
- Compliances: IDOS solution come with inbuilt compliance with tax laws such as GST and TDS, with accounting standards and with Internal controls that the company management wants to implement.
- Accuracy of Data: IDOS mitigates or eliminates processes that are prone to errors. This significantly increases the accuracy and reliability of data. Accurate data is important because it increases the level of confidence that management has on the data put in front of it.
- Online and Cloud: What this means for a company is that that the management always has access to live data. This increases the recency and relevance of the data for the management, which otherwise had to struggle to find up to date reports.
- Ease of Use: The software does not require expert operators. Existing staff of the company can easily operate it. Since the software is simple, even the senior management can access the software data and the various reports without hassle.