Perera Tyre Services – Streamlining Financial Operations with a Custom Outstanding Checking System
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Introduction
Perera Tyre Service (Pvt) Ltd, a leading provider of automotive services, sought a tailored solution to address inefficiencies in their financial tracking and outstanding balance management. To overcome these challenges, the company collaborated with Ronites to develop a custom Outstanding Checking System. This robust platform integrates seamlessly with their existing ERP system to streamline operations and ensure accurate financial reporting.
Challenges
Perera Tyre Service faced significant hurdles in managing outstanding balances effectively:
- Manual data entry for invoices and payments led to frequent errors.
- Inconsistent and outdated reporting tools hampered financial transparency.
- Lack of integration with existing ERP systems resulted in duplicate efforts.
- Difficulty in reconciling outstanding balances across multiple payment methods.
Solution
Ronites delivered a comprehensive Outstanding Checking System with the following features:
Customer Management Module: Enabled the addition of customer profiles with unique identifiers, integrated with the existing ERP system.
Invoice and Payment Entry: Simplified the entry of invoice details, supported multiple payment methods, and allowed the association of payments with multiple invoices.
Goods Return Management: Incorporated a dedicated feature to record goods returns with precise linking to related invoices.
Advanced Reporting: Provided both customer-wise and invoice-wise outstanding reports, with flexible filtering and sorting options.
Data Comparison Tool: Allowed Excel uploads from the ERP system to compare outstanding balances with the internal database, highlighting discrepancies.
Secure Login System: Ensured restricted access for authorized users, maintaining data integrity and security.
Implementation Highlights
Customized Development:
- Built a user-friendly interface for manual data entry and reporting.
- Integrated seamlessly with the client’s ERP system for efficient data flow.
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Automated Processes:
- Enabled real-time calculations of outstanding balances.
- Developed algorithms to identify and report data discrepancies automatically.
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Scalable Architecture: Designed the system to accommodate growing financial data without performance issues.
Results
- Improved Accuracy: Automated calculations reduced financial errors by over 50%.
- Operational Efficiency: Streamlined invoice and payment management decreased reconciliation time by 40%.
- Enhanced Reporting: Provided detailed insights into outstanding balances, improving financial oversight.
- Data Consistency: ERP integration minimized redundant data entry and ensured synchronization across platforms.
Conclusion
This project exemplifies Ronites’ commitment to delivering customized solutions that address specific business challenges. The Outstanding Checking System has empowered Perera Tyre Service to streamline financial operations and maintain accurate, real-time records, reinforcing their position as an industry leader.
Client Details
Perera Tyre Service (Pvt) Ltd
Industry
Automotive Services
Project
Outstanding Checking System