by Analytics Insight
January 20, 2022
Oracle has benefited the TMEIC Corporation in adding value to the company through its innovative solutions benefiting its clients in all spheres
Challenges
Oracle is an American multinational technology corporation that’s headquartered in Austin, Texas. It had been priorly headquartered in Redwood Shores, California until December 2020. Oracle sells a SaaS suite of Oracle Fusion Applications business applications. and therefore, the Oracle retail suite covers the entire retail industry vertical, price management, providing merchandise management, invoice matching, store operations management, allocations, warehouse management, merchandise financial planning, demand forecasting, assortment planning, and category management.
TMEIC Corporation develops advanced automation and drive systems for industrial applications, oil, and gas, mining, serving the metals, material handling, and renewable energy industries and other industrial markets. The corporation was facing a challenge in deploying an ERP system that will meet the requirements of an engineering-focused company, as against a manufacturing-focused organization.
Gain greater visibility into engineering project costs to enable more accurate pricing and billing for companies that are experts and customized automation and drive systems. Deploying a CRM system that permits TMEIC business units across the world to coordinate sales activities with multinational customers and supply reporting capabilities. Gain insights required to support expansion into new business segments and regions like material handling in points. and eventually controlling IT management costs.
Initiatives
To handle these challenges TMEIC business deployed Oracle E-Business Suite that runs using Oracle managed cloud services to make a highly available, reliable, and scalable IT infrastructure to assist the company’s global industrial automation and drive system operations. Oracle has unrolled robust collaboration capabilities and enterprise applications that employees had been accustomed to while being a part of an outsized parent organization.
The service has streamlined operations while driving growth into new business sectors like photovoltaic with cost-effective, flexible solutions. Later replaced the company’s previous CRM tool with Oracle CRM on Demand to enhance day-to-day sales reporting, and to assist the corporate yield of merged sales reports across various countries.
Then migrated to Oracle sales cloud together with other TMEIC group companies in India, Europe, and China allowing accurate forecasts and win probabilities more efficiently with sales teams and partners across the world.
Results
This Oracle service has provided better visibility towards the project management including costs ensuring on budget engineering-based automation driving the project delivery. It expanded visibility into the company’s financial and human resources aiding to form informed decisions and also laid the groundwork to deploy recruiting the talent within the near future. The solution enabled the corporation to shut its monthly financial books in only a half day. It also enabled the firm to manage a multinational workforce to profit from the third-party nationals.
Improved reporting to supply management with greater visibility across various markets and channels. It has reduced the IT management costs by over 30% per annum and ensured predictability with cloud-based solutions decreasing resources that are required to specialize in system maintenance.
Freed internal IT resources to specialize in organizational priorities like developing quoting and pricing systems tailored to the company’s unique market which sells specialized equipment and services for steel mills, ports, oil and gas production, mining, and other industries clients. This is how Oracle has benefited the TMEIC Corporation in adding value to the company through its innovative solutions benefiting its clients in all spheres to make their decision-making process easy and effective.
“We found it very difficult to realize visibility into all aspects of our projects including scheduling, expenses, and staff time across the corporate world. We also needed timely access to essential information from applications across the enterprise. Oracle E-Business Suite, traveled by Oracle managed cloud services, enabled us to consolidate our disparate systems and improve business performance,” said John Slaski, director, information technology, TMEIC Corporation.
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