QAD ERP Implementation for Lithium-ion Energy Storage Solutions Company

DotThe Client

A worldwide leader in complete lithium-ion energy storage solutions that offer high power, excellent safety, and outstanding life.

DotThe Challenges

The client needed help with QAD ERP implementation and support in below mentions areas:

 

  • Streamlining financial processes including planning, recording, reporting, and complying.
  • Streamlining Account Payables/Account Receivables workflows to avoid the lack of transparency.
  • Understand the General Ledger impacts of each fixed asset transaction i.e., acquisition, depreciation, transfer(inter/cross-company) and retirement.
  • Improve efficiency by eliminations, consolidations, and GL allocations.
  • Need for advanced reporting that simplify complex multi-GAAP reporting requirements and enhanced audit capabilities.
  • Reconcile the sub-ledger and ledgers reports with root-cause analysis.
  • New assets acquisition in the QAD ERP System.
  • Simplifying the distribution process.
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DotThe Objective

The client being a leader in space of lithium-ion energy storage solutions has to manage multiple functions on a large scale. The client was using a manual solution to manage the functions, which made it time-consuming as well as incapable of responding to various business environment disruptions.

To survive and thrive, the client sought for modern ERP solutions to help them effectively scale, respond to changes, and streamline their Fixed Asset Management, Financial Reporting and Accounting and Distribution Activities. Additionally, our client’s IT team also desired to become a fully trained, self-supporting team capable of supporting the QAD application.

DotThe Solution

JK Tech, being a leading QAD partner, worked closely with the client to understand their pain points, requirements and provided an efficient solution and consultation for any new developments. In order to double the productivity across all functions within the organization, we helped the client in migrating from their legacy system to the QAD ERP application. Our team implemented and trained the client on various functionalities including:

 

  • Fixed Assets (acquisition, transfer, retirement, and adjustment).
  • Adjustment of Capital Work in Progress (CWIP) account balance in the system.
  • Distribution (Sales return and sales discount).
  • Reconciliation of AP (to analyse why the POR account or unmatched-PO receipts has not been cleared out).
  • Reconciliation of Sub-ledger with ledger reports (AP & AR).
  • Help to create a new user and perform segregation of duties (SOD) in the ERP.
  • Analysis and Reconciliation of various GLs.

The client had previously performed a lot of manual journal entries to settle their financial statements, which was a temporary solution for their year-end process. Thus, we provided them with complete support to meet all the requirements and help them settle their trial balance and other financial reports with the correct in-built functionality/scope of QAD.

 

Furthermore, we provide complete and continuous support to troubleshoot any QAD ERP-related issues.

DotThe Benefits

The implementation of the QAD ERP system has led to:

  

  • Improvement in the performance of critical business functions by 70%.
  • 50% reduction in man-hours spent on manual processes and maintenance.
  • Increased operational and cost efficiencies.
  • Consolidated systems, greater transparency, & reduction of errors.
  • Access to accurate information for all business functions eventually helps in better decision making.

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