Aziant Deploys Integrated ERP Solution
About the Company
Hyderabad-based — Aizant Drug and Research Solutions provides comprehensive drug development resources and solutions for regulated and emerging markets. Founded in 2006, the company offers comprehensive drug development resources and solutions through a team of more than 50 individuals, including scientists, engineers, and technicians. Aizant applies scientific and technical expertise to each stage of the drug discovery, development and manufacturing processes. Its operations include dosage-form development, stability testing, clinical research and bioanalytical development, as well as manufacturing of clinical supplies and preclinical and toxicological tests.
Prior to Microsoft Dynamics AX installation, Aizant was using a locally available financial package — Tally 7.2, and Microsoft Office Excel for reporting. There was no solution to record pre-operative or post operative expanses and thus the cost of project was not accurate.
Tally 7.2 required extensive manual efforts and extra time. The work was sometimes duplicated leading to complications and wastage of time. Also, the existing solution did not efficiently track inventory and related functions, such as current stock position, inventory re -order linked to generating purchase order, inventory utilization by project, physical stock taking inventory costing, asset capitalization, automated depreciation calculation. All these activities were managed manually.
Aizant wanted greater security of project reports, account, costing, and other project details. It also wanted a solution that would automate statutory reports, compliance with taxation laws, greater accuracy, and traceability.
In pursuit of growth, Aizant felt the need for a solution that could cater to its growth plans and looked for an integrated ERP, a one stop solution. SemanticSpace Technologies, a Microsoft certified partner, offered a customized solution for the company’s requirements.
Semanticspace Technologies helped Aizant in selecting and deploying the solution Microsoft Dynamics AX 4.0, to automate its financial and production processes. "With Microsoft Dynamics AX 4.0, we face each opportunity with greater confidence as we know our information is accurate and we can count on the increased efficiency," said Varma Rudraraju, chairman and MD at Aizant Drug and Research Solutions.
The implementation included planning, the final implementation, and the testing of the solution. Microsoft Dynamics AX version has been implemented to manage all activities related to sales, purchases, stores, finance, projects and production. In order to stabilize and streamline tax calculation, purchase order process enhancements and depreciation calculations, SemanticSpace upgraded Dynamics AX service pack 2.
In the first phase; a financial module was implemented which includes general ledger, accounts payables, accounts receivables, fixed assets, bank, and inventory. The solution was tailored to the Aizant’s requirements. A key customization was done for purchase requisition. A new form was created in Dynamics AX to directly fetch values from the requisition form after the approvals are granted. This feature enables good internal control, with no additional paper work involved and streamlines business processes.
From the IT team’s perspective, the solution was easily customized and effortlessly integrated all the business process and critical data. "We were able to quickly customize Microsoft Dynamics AX to match our business needs, and are able to report more efficiently and gain efficiency through a reliable and transparent solution," said D. Krishna Rao, associate director of Aizant Drug and Research Solutions.
Microsoft Dynamics AX provides real time information of all financial information, inventory and stores, allowing the management to take strategic decisions at the right time and develop more opportunities. "With Microsoft Dynamics AX 4.0, we face each opportunity with greater confidence as we know our information is accurate and we can count on the increased efficiency," said Varma.
With the implementation of Microsoft Dynamic AX, the company has got the complete view about the business information which included cost, inventory and financial managements. It helped Aizant to replace the existing system with a single and fully-integrated solution. In addition, it derived various advantages that include:
Microsoft Dynamics AX works seamlessly with Microsoft Office but has a similar look and feel. This has enabled greater acceptance from the employees and lowered the learning curve and training requirements considerably.
Improvement in Financial Management
Aizant has centralized the company’s accounting information, posting specifications, and other core data. It works efficiently in a multi-user environment, accesses the most up-to-date financial data and effectively manages all the receivables and payables accounts. "It prompts us with inventory availability as and when we record our purchases and sales. We can easily view our outstanding and due payables and receivables," said Krishna Rao.
Improves Decision Making
It is helps gain accurate and timely insight into the business and enables the management to take sound strategic decisions.
Access to confidential data such as purchase orders, costing, project reports, etc. is restricted and is available only to appropriate employees based on their role within the organization. "With implementation of Microsoft Dynamics AX, we have seen an increase in transparency in processes, greater accountability from employees in a secure and reliable environment," said Krishna Rao.
Streamlines Inventory Management
The streamlining of warehouse operations maximizes the efficiency of receipt and shipment of goods. The company is aware of the exact location and quantity of raw material and finished goods. "The warehouse operations have improved substantially with decrease in paperwork and need to manpower to maintain warehouse operations," concluded Krishna Rao.
- Intel Imparts AI Training To 9,500 Techies
- Keysight Gears Up For 5G, High-Speed Datacenters In India
- Microsoft Gears Up For Quantum Computing Ecosystem
- Bank Branches Will Not Die Anytime Soon: Study
- 5 Reasons For Cos To Use Business Centres For Office Spaces
- Fintech Revolution: How India, APAC Cos Are Moving Ahead
- Cloud Momentum Consistently Up Across Financial Biz Apps
- Workplace Culture Drives Company’s Financial Performance
- 5 Specs Of A Futuristic Office Space
- Chatbots Will Change The Dynamics Of Recruitment