World’s Largest Industrial goods Manufacturer enhances decision making with real-time treasury Insight and seamless integration
APAR Industries stands as the world’s largest manufacturer of aluminium and alloy conductors, the third-largest transformer oil producer globally, and a leading manufacturer of the widest range of cables in India.
Challenges and obstacles faced by APAR Industries pre-automation
• Manual Processes and Tool Limitations
Treasury operations were heavily dependent on MS Office tools like Word and Excel. These tools, while useful for basic tasks, were not suited for managing complex financial workflows, leading to inefficiencies and increased operational burden.
• Email-Based Communication and Documentation
Exchanges of documents and requests were conducted primarily via email, which created fragmented communication, lacked traceability, and made process monitoring difficult.
• High Duplication of Effort
Team members frequently had to re-enter and consolidate data across multiple Excel sheets, resulting in an estimated 30–40% duplication of effort. This not only consumed valuable time but also increased the risk of human error.
• Time-Consuming MIS Report Generation
Generating Management Information System (MIS) reports involved extensive manual consolidation and formatting, making the process labour-intensive and inefficient.
• Lack of Data Reliability
Due to the manual nature of data handling and multiple touchpoints, the accuracy and reliability of data were often compromised, making it difficult to trust the outputs for strategic decision-making.
• Delayed and Reactive Decision-Making
The absence of real-time insights hindered the ability to make proactive, data-driven decisions. Decision-making became reactive and slow, especially when handling abnormal or anomalous data.
• Inability to Respond Swiftly to Market Changes
Manual workflows made it challenging to quickly analyze and respond to market shifts or operational anomalies, requiring extraordinary effort and coordination across teams.
• Increased Risk of Errors and Operational Inefficiencies
The dependency on manual processes increased the likelihood of errors, which not only affected accuracy but also reduced overall efficiency and confidence in the treasury function.
Benefits
• Streamlined and Integrated Treasury Operations
• Moving from scattered MS Office tools to a unified treasury management system eliminated inefficiencies, automated complex workflows, and reduced operational burden.
• Centralized, Traceable, and Efficient Communication
• Consolidating documentation and requests on a single platform ensured traceability, improved process monitoring, and removed fragmented communication.
• Elimination of Redundancy and Faster Reporting
• Automated data integration removed repetitive entries, reduced manual consolidation, and enabled instant MIS generation—saving significant time and effort.
• High Data Accuracy and Reliability for Decisions
• Automated data capture from a single source minimized human touchpoints, improved accuracy, and ensured data could be fully trusted for decision-making.
• Proactive and Agile Response to Market Changes
• Real-time analytics empowered the team to anticipate issues, respond swiftly to anomalies, and adapt quickly to market fluctuations with minimal coordination.
• Reduced Error Risk and Enhanced Efficiency
• Automation minimized manual errors, improved productivity, and boosted confidence in treasury operations.
Client Feedback:
Sanjay Rohit, Senior General Manager - Finance (Treasury Head), APAR Industries shares “Partnering with IBSFINtech has been a transformative experience for our treasury operations. Their advanced digital treasury platform has revolutionized the way we work, enabling real-time transaction execution, seamless data recording, and the elimination of redundant processes. This has not only enhanced our operational efficiency but also empowered us with accurate, real-time insights for informed decision-making.
"With the TMS in place, we now have data readily available to respond swiftly to unpredictable external risks. In critical situations, this capability ensures that we can take quick corrective actions, safeguarding the organization and staying ahead of our peers. IBSFINtech’s solution has truly positioned us to navigate uncertainties with confidence and agility”"