Madison World is a diversified communication group, with 24 units across nine specialized functions. At the flagship company, Madison Communications and other companies in the group, the existing accounting applications were unable to handle the huge volume of transactions. Computing and reporting was slow and time consuming. The team had to run through individual databases of each group company and locations to develop the final reports. Madison wanted to compile all its data across companies in a single repository. Microsoft Gold Certified Partner, Blue Star Infotech implemented Microsoft Dynamics NAV 2009. After deployment, the company has seen an increase in its overall productivity and efficiency. With increased management controls, financial visibility and quick reporting, the company saves more than 50 percent in people hours.
|Dynamics NAV delivers a comprehensive platform that enhances productivity by 50 percent, improves control and offers real time information that drives business agility.|
| RSR Murthy|
Chief Financial Officer, Madison World
Founded in 1988, Madison World is a diversified communication group. Headquartered in Mumbai, it operates 24 companies or units across nine specialized functions such as advertising, media, business analytics, out-of-home, public relations, rural, retail, entertainment, mobile and sports advertising. It offers media services including strategic media planning, media buying, competition analysis, media research, among others, to blue-chip companies. The group also provides solutions for integrated entertainment, celebrity management, film promotion and placements, and event management.
Madison World employs over 1,000 professionals across offices in India, Sri Lanka and Thailand. Some of its clients include Airtel, Asian Paints, Blue Star, Cadbury, General Motors, the Godrej group, Levis, Idea, ITC Ltd, Marico, McDonald’s, Procter & Gamble, and TVS Motors. The annual revenue for financial year 2011─12 was U.S.$650million (INR38 billion).
Until 2010, Madison was using multiple applications across the group. Each unit was using different accounting applications. It used ADWISE, an in-house developed robust software for the media operations, along with a few others. The teams across locations also used Microsoft Excel worksheets extensively. Each branch thus maintained a separate database and segregated clients based on locations.
Madison handles a huge volume of data. “We handle approximately 50,000 invoices each from vendors as well as client side, besides half a million spots on TV channels and radio per month, and thousands of press insertions,” says RSR Murthy, Chief Financial Officer, Madison World. Data consolidation for management reviews and reports generation, and furnishing correct inputs for decision-making was one of the biggest challenges. The existing financial applications were inadequate for the increasing volumes of data. Computing data from these applications was a painfully slow process and consumed a lot of time.
Tracking accounts receivables (AR) and accounts payables (AP) was a mammoth task. For example, Madison pays a vendor only after payment is received from the customer. Plus, different types of media follow different business models and practices. To manage these complex payment models, complex reports were generated, such as ‘paid to vendors but not collected from client’, ‘collected from client but not yet paid to vendors’ or ‘timeframe of AR and linked AP’. “To generate complex accounts reports, the team had to run through multiple databases at various locations,” explains Sadanand Acharya, Senior Manager─ Finance, Madison. “It took approximately 45 minutes to generate one report, which was definitely not an encouraging outcome. This adversely affected the productivity of the company.”
Besides being slow and taking a toll on productivity, reports were not 100 percent reliable. There were concerns regarding the accuracy, resiliency, and data consistency.
The IT objective at Madison was to have a system that is robust enough to integrate accounts of all the group companies and consolidate data at a central location to enhance productivity. Its goal was to centralize all the common financial functions like treasury, taxation and accounting at the group level. It wanted to develop a common platform across all units at the corporate level to speed up business and gain access to real time information via relevant reports.
|Dynamics NAV consolidates data in a central location. The report that took 45 minutes earlier is now readily available in under five minutes, thus saving time by 90 percent.|
| Sadanand Acharya|
Senior Manager─ Finance, Madison Communications
Madison evaluated various ERPs available in the market. But after considering all the pros and cons, it opted for Microsoft Dynamics NAV2009. “We extensively use Microsoft Excel worksheets and Dynamics NAV ensures seamless connectivity between the two to bridge the gap,” states Bhavin Jasani, Senior Manager─ Finance, MOMS Outdoor Media Solutions, Madison's out of home specialist agency. “It was important for us to find a solution that is flexible enough to customize our unique billing requirements,” comments Sadanand.
As compared to other ERPs available, Microsoft Dynamics NAV is a very strong financial solution and also integrates modules such as purchase, sales and project. “It offers accounting and finance solutions to help us track and analyze our business information. Thus, it suited our requirements the most,” continues Murthy. “Additionally, the cost of the solution helped us take a decision in favor of Dynamics NAV.”
Madison approached Blue Star Infotech, a Microsoft Gold Certified Partner, to implement the solution. Blue Star proved to be an excellent implementation partner and started deployment in August 2010 using Microsoft Sure Step Methodology. Within four months, it completed the deployment and the solution was online in December 2010. Madison deployed the solution in eight companies and various offices at different locations. “The Sure Step Methodology helped us focus on the importance of executive sponsorship and change management, apart from strong project management that helped us deliver the solution on time and within our budget,” explains Murthy.
Madison deployed finance-related modules that include financial management, general ledger, cash and bank management, accounts receivables, accounts payables, and fixed assets. Blue Star Infotech also accommodated unique requirements such as bill matching, by adding business logic into the framework.
It also integrated Dynamics NAV withal the custom-built, in-house, line-of-business applications used for operations at Madison. Excel sheets now directly export data into Dynamics NAV and transform it tithe master data. The management can then use it for reviews and reporting. Benefits
“With simpler, more efficient invoicing, better control over payables and receivables, and transparent financial reporting, the team works quickly and efficiently,” says Murthy. “Dynamics NAV delivers a comprehensive platform that enhances productivity by 50 percent, improves control, and offers real time information that drives business agility.” 90 Percent Faster Reports
With the previous applications, the team had to run through multiple databases manually to extract and collate data for reports. “Now,” says Sadanand, “Dynamics NAV consolidates data in a central location. The report that took 45 minutes earlier is now readily available in under five minutes, thus saving time by 90 percent.” Likewise, consolidated monthly reports were available only by the 20th of every month. “After Dynamics NAV, we are able to comfortably deliver these by the 10th, saving 10 days every month,” adds Dinagaran David, Assistant Manager ─ Finance, Madison.
50 Percent Increase in Productivity
|Now Microsoft Dynamics NAV directly imports the bills… matches client and vendor invoices and processes these by the 15th of every month. It thus enhances productivity by almost 50 percent and reduces month-end pressure. We save 15 days in processing invoices.|
| Sadanand Acharya|
Senior Manager─ Finance, Madison Communications
Employees find information far more quickly with one central application. Moreover, the data is completely accurate. Before Dynamics NAV, the team completed monthly data entry and data consolidation by the end of the month. “Now Microsoft Dynamics NAV directly imports the bills, eliminating manual transactions. Madison can now match client and vendor invoices and process these by the 15th of every month. It thus enhances productivity by almost 50 percent and reduces month-end pressure. We save 15 days in processing invoices,” says Sadanand. “With updated balance sheets, P&L statements, and the automated reports we save even more time, improving productivity further in the accounting area,“ adds Dinagaran David. Integration Delivers Efficiency
Microsoft Dynamics NAV works in tandem with existing LOB applications and Microsoft Excel, taking efficiency to a new level. Uninterrupted information flow across the company is improving overall efficiency of the organization. The management has the right information to make decisions that impact the business significantly.
In addition, automation and process improvement along with effective changes in management processes help revitalize the organization. Statutory Compliance Improves
Processing tax transactions, calculating monthly TDS, and filing returns was a tedious and time-consuming job at Madison. “To meet deadlines and file returns our team worked until midnight at month-end,” recalls Bhavin. Now, Microsoft Dynamics NAV automates the processes and generates statutory documents for filing. “The team now completes the same tasks within the routine working hours,” concludes Murthy.
Microsoft Dynamics is a line of integrated, adaptable business management solutions that enables you and your people to make business decisions with greater confidence. Microsoft Dynamics works like familiar Microsoft software such as Microsoft Office, which means less of a learning curve for your people, so they can get up and running quickly and focus on what’s most important. And because it is from Microsoft, it easily works with the systems that your company already has implemented. By automating and streamlining financial, customer relationship, and supply chain processes, Microsoft Dynamics brings together people, processes, and technologies, increasing the productivity and effectiveness of your business, and helping you drive business success.
For more information about Microsoft Dynamics, go to:
www.microsoft.com/dynamics About Blue Star Infotech
Blue Star Infotech helps global mid-market enterprises derive measurable business outcomes through the use of IT. It partners with its clients to understand the business pain points, arrive at the appropriate IT led interventions and manage successful implementation. Using its deep understanding of the mid-market segment, and drawing upon its long standing track record in creating IT solutions, Blue Star Infotech is able to deliver affordable and relevant solutions through client-friendly flexible engagement models. For More Information
Blue Star Infotech’s dual expertise in building software products for industry-leading Independent Software Vendors and IT solutions for enterprises provides it with an unique advantage to cross-leverage experiences in creating solutions for enterprises both custom and products across domains and technology platforms.
Blue Star Infotech, a part of the Blue Star Group, is a Microsoft Gold Certified Partner, Oracle Gold Partner, SAS Silver Partner, Kentico Partner, Sitecore Partner, Amdocs Partner.
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