{"id":1022363,"date":"2022-09-26T13:33:20","date_gmt":"2022-09-26T13:33:20","guid":{"rendered":"https:\/\/www.capgemini.com\/in-en\/?post_type=research-and-insight&#038;p=1022363"},"modified":"2024-09-09T08:59:23","modified_gmt":"2024-09-09T08:59:23","slug":"essar-establishes-financial-shared-services-center","status":"publish","type":"research-and-insight","link":"https:\/\/www.capgemini.com\/in-en\/insights\/research-library\/essar-establishes-financial-shared-services-center\/","title":{"rendered":"Essar Establishes Financial Shared Services Center"},"content":{"rendered":"\n<header class=\"wp-block-cg-blocks-hero-reusable header header--sub2 header--sub2b header--insights1  \"><div class=\"header-bgs\"><\/div><div class=\"heroPictureCardHeaderShape\"><\/div><div class=\"container\"><div class=\"row\"><div class=\"col-md-10 offset-md-1\"><div class=\"box\"><div class=\"box-title\"><h1 data-maxlength=\"34\">Essar Establishes Financial Shared Services Center<\/h1><\/div><div class=\"inner-row-insight download-btn\"><div class=\"col-md-4\"><div><a href=\"https:\/\/www.capgemini.com\/in-en\/wp-content\/uploads\/sites\/18\/2022\/09\/ss_Essar_Establishes_Financial_Shared_Services_Center.pdf\" target=\"_blank\" rel=\"noopener noreferrer\" title=\"opens in a new window\">Download success story<\/a><\/div><a class=\"button-download--small button--turquois  \" type=\"download\" href=\"https:\/\/www.capgemini.com\/in-en\/wp-content\/uploads\/sites\/18\/2022\/09\/ss_Essar_Establishes_Financial_Shared_Services_Center.pdf\" target=\"_blank\" title=\"opens in a new window\" rel=\"noopener noreferrer\"><span>File size: 3 MB<\/span><span>File type: <\/span><\/a><\/div><\/div><\/div><\/div><\/div><\/div><\/header>\n\n\n\n<section class=\"wp-block-cg-blocks-intro-para undefined section section--intro\" id=\"introParaWrapper\"><div class=\"intro-para\"><div class=\"container\"><div class=\"row\"><div class=\"col-12 col-md-1\"><nav class=\"article-social\"><ul class=\"social-nav\"><li class=\"ip-order-fb\"><a href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/www.capgemini.com\/in-en\/insights\/research-library\/essar-establishes-financial-shared-services-center\/\" target=\"_blank\" rel=\"noopener noreferrer\" title=\"opens in a new window\"><i aria-hidden=\"true\" class=\"icon-fb\"><\/i><span class=\"sr-only\">Facebook<\/span><\/a><\/li><li class=\"ip-order-li\"><a href=\"https:\/\/www.linkedin.com\/sharing\/share-offsite\/?url=https:\/\/www.capgemini.com\/in-en\/insights\/research-library\/essar-establishes-financial-shared-services-center\/\" target=\"_blank\" rel=\"noopener noreferrer\" title=\"opens in a new window\"><i aria-hidden=\"true\" class=\"icon-li\"><\/i><span class=\"sr-only\">Linkedin<\/span><\/a><\/li><\/ul><\/nav><\/div><div class=\"col-12 col-md-11 col-lg-10\"><h2 class=\"intro-para-title\">Capgemini helps Indian multinational implement SAP document management software to accelerate processes and reduce costs.<\/h2><\/div><\/div><\/div><\/div><\/section>\n\n\n\n<section class=\"wp-block-cg-blocks-group undefined section section--article-content\" id=\"quoteWrapper\"><div class=\"article-main-content\"><div class=\"container\"><div class=\"row\"><div class=\"col-12 col-md-11 col-lg-10 offset-md-1 offset-lg-1\"><div class=\"article-text article-quote-text\">\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>The SAP document management implementation helped us make better use of our resources and balance the workload. We\u2019ve also lowered costs and accelerated processes, improved data quality, strengthened risk management and enhanced visibility. Capgemini helped us meet our time and budget targets. The implementation was a success because of the alignment of business and IT. Executive sponsorship was strong and visible. It was a symphony, rather than a stand-alone IT project \u2013 users plus IT, working together to deliver business value.<\/p>\n<cite><strong>Dr. Paritosh Basu,<\/strong><em>&nbsp;Group Controller, Essar Group<\/em><\/cite><\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-situation\">The Situation<\/h2>\n\n\n\n<p>Essar Group, a diversified multinational with a balanced portfolio of assets in the steel, energy, power, communications, shipping, infrastructure and Engineering, Procurement and Construction (EPC) businesses, was looking to bring the processing of more than 30,000 financial documents generated by its business units every month into one central processing center. The group wanted to establish a Shared Services Center (SSC) for Finance and Administration that would cover Accounts Payable, Accounts Receivable, Fixed Assets, Banking, Tax and General Ledger spanning 41 account entities.<\/p>\n\n\n\n<p>Capgemini was chosen to implement a document management and workflow solution to support the company\u2019s ambitious growth plan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-solution\">The Solution<\/h2>\n\n\n\n<p>The primary objective of the solution was to automate the flow of information and documents in an electronic form to a central financial shared services center for transaction processing and accounting, helping to bridge the enterprise information gap and facilitate central processing. Capgemini implemented SAP document management software for managing documents. The team designed suitable SAP workflow templates to address processing requirements as per shared services design. Further, they integrated an interface scanning solution with SAP to ensure seamless movement of document flow and intermediate validation facility.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-result\">The Result<\/h2>\n\n\n\n<p>\u201cSixteen months into our implementation, we have already recovered 50% of our investment,\u201d says Mandeep Singh, Senior Vice President with Aegis (an Essar Group Company). \u201cThe SAP document management implementation helped in bringing routine accounting processes onto one platform,\u201d says Dr. Paritosh Basu, Group Controller at Essar. \u201cThese functions had been performed at numerous locations across India. Now we have a single, centralized system for document management, workflow, and storage across the entire group. The SAP software helped us make better use of our resources and balance the workload. By automating the creation of SAP document information records, we\u2019ve eliminated human intervention, saving time and effort. We\u2019ve also lowered costs and accelerated processes, improved data quality, strengthened risk management, and enhanced visibility into financial accounting.\u201d<\/p>\n\n\n\n<p>Milind Joshi, Senior Vice President of IT services at Aegis says, \u201cThe document management implementation helped us harmonize processes and create a common document repository. This has improved employee efficiency, simplified document retrieval, and enhanced traceability for audits.\u201d<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":87,"featured_media":0,"template":"","meta":{"cg_dt_proposed_to":[],"cg_seo_hreflang_relations":"[]","cg_seo_canonical_relation":"{\"uuid\":\"0284aebf-2beb-4174-9077-8995a0c0bf37\",\"blogId\":\"\",\"domain\":\"\",\"sitePath\":\"\",\"postLink\":\"\",\"postId\":null,\"isSaved\":true,\"isCrossLink\":false,\"hasCrossLink\":false}","cg_seo_hreflang_x_default_relation":"{\"uuid\":\"3eb0b531-e552-41ad-beca-0caae5bf2532\",\"blogId\":\"\",\"domain\":\"\",\"sitePath\":\"\",\"postLink\":\"\",\"postId\":null,\"isSaved\":true,\"isCrossLink\":false,\"hasCrossLink\":false}","cg_dt_approved_content":true,"cg_dt_mandatory_content":false,"cg_dt_notes":"","cg_dg_source_changed":false,"cg_dt_link_disabled":false,"footnotes":"","related_resource_url":"","related_resource_id":0,"related_resource_size":"","related_resource_type":"","cg_author":0,"_yoast_wpseo_primary_theme":0,"primary_term":"","featured_focal_points":""},"tags":[],"research-and-insight-type":[],"theme":[],"brand":[],"service":[],"industry":[],"partners":[],"content-group":[],"class_list":["post-1022363","research-and-insight","type-research-and-insight","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Essar Establishes Financial Shared Services Center - Capgemini India<\/title>\n<meta name=\"description\" content=\"Essar Establishes Financial Shared Services CenterDownload success storyFile size: 3 MBFile type: FacebookLinkedinCapgemini helps Indian multinational\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.capgemini.com\/in-en\/insights\/research-library\/essar-establishes-financial-shared-services-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Essar Establishes Financial Shared Services Center\" \/>\n<meta property=\"og:description\" content=\"Essar Establishes Financial Shared Services CenterDownload success storyFile size: 3 MBFile type: FacebookLinkedinCapgemini helps Indian multinational\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.capgemini.com\/in-en\/insights\/research-library\/essar-establishes-financial-shared-services-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Capgemini India\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-09T08:59:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.capgemini.com\/in-en\/wp-content\/uploads\/sites\/18\/2025\/10\/New-Web-preview-global.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"627\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.capgemini.com\/in-en\/insights\/research-library\/essar-establishes-financial-shared-services-center\/\",\"url\":\"https:\/\/www.capgemini.com\/in-en\/insights\/research-library\/essar-establishes-financial-shared-services-center\/\",\"name\":\"Essar Establishes Financial Shared Services Center - Capgemini India\",\"isPartOf\":{\"@id\":\"https:\/\/www.capgemini.com\/in-en\/#website\"},\"datePublished\":\"2022-09-26T13:33:20+00:00\",\"dateModified\":\"2024-09-09T08:59:23+00:00\",\"description\":\"Essar Establishes Financial Shared Services CenterDownload success storyFile size: 3 MBFile type: FacebookLinkedinCapgemini helps Indian multinational\",\"breadcrumb\":{\"@id\":\"https:\/\/www.capgemini.com\/in-en\/insights\/research-library\/essar-establishes-financial-shared-services-center\/#breadcrumb\"},\"inLanguage\":\"en-IN\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.capgemini.com\/in-en\/insights\/research-library\/essar-establishes-financial-shared-services-center\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.capgemini.com\/in-en\/insights\/research-library\/essar-establishes-financial-shared-services-center\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.capgemini.com\/in-en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Research &amp; 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