Manual Journal Entries Automation
Client portfolio
Our client is one of the largest liquor manufacturing companies in the United States of America, with a perfect blend of rich ancestral heritage and modern innovative flavor, working strenuously at finding the right balance between staying ahead of customers’ expectations and delivering quality experiences.
Overview – Origins
Whenever a user wants to post a MJE file to the ERP system, which is SAP in the case of our clients, he has to first prepare the MJE file. In parallel, he has to get the supporting documents and files ready. Then he has to validate the data in the MJE file. Such validations may be on a basic level, such as making sure that the debits and credits tally or ensuring that the proper date format is entered. Or, they can also be on a more intensive level, such as the GL account number is correct, the value entered are within the limits of the account, etc. After validations, the user has to check if the MJE file requires approvals. This is decided by the workflows set by that business. After approvals are done, the user posts the MJE file in to SAP by running transactions.
Normally, businesses use a software or a portal for this process, which attempt to simplify the user’s job by automating part or whole of the workflow here. The transactions to be run in SAP are masked by a simple action like a button click. How effectively such automations are done is the real question here. The success of the scope of automation is defined by how easily the user accomplishes the process and how quickly the results are attained.
Problem statement – The Past
Our clients used Redwood for MJE automations. Here the user uploads the MJE files and the supporting documents. Validations are done and a simulation on SAP posting is done by Redwood. Any failure on validations or simulations is intimated to the user and he takes care of fixing the issues. Then the MJE goes for approvals. On approval, SAP posting is done by Redwood. The objective was met, but the UI was not very user-friendly. Also there was no possibility for approvals to happen on the go. Our clients required a makeover of the entire process and an interactive UI which would deliver an enhanced user experience and along the way, quicken up the process to an extent.
Our Solution – The Present
BeezLabs analyzed the situation and came up with a solution, Finance Cockpit which aims at meeting the clients’ expectations. Going even further, Finance Cockpit’s integration to Tulip would make it possible for users to have a versatile and smooth experience in the approvals process of MJE postings.
On logging in to Finance Cockpit, the user is greeted by a vibrant and rich UI which guides him to initiate the MJE posting process. The user can easily upload the MJE file and the supporting documents. He can perform validations on the MJE file by opening and viewing the file from the Cockpit itself. He need not navigate between screens for such validations. Once validated, he can start the posting process. When the user initiates the posting, a simple simulation of the values in SAP is done. Any errors identified can be rectified then and there.
Next, as the workflow demands an approval process, the MJE file goes through the concerned Approvers. These Approvers are pre-defined and set in the Approval matrix. The approval process is flawless owing to the Tasks feature of Tulip, which assigns the approvals as User Approval Tasks to Approvers. They can view the data and reach a decision. By just a button click, the MJE files are approved and posted. What makes the approval process even easier, is the mobility offered by Tulip mobile App. This ‘Approve on the Go’ of Tulip comes in very handy in terms of quick actions by Approvers and therefore the entire process is quickened up.
Value delivered – The Outcome
Potential extended scope – The Future
Manual Journal entries Automation is the need of the hour and is essentially sought after in many sectors and in many verticals. Wherever SAP is the ERP system in place, this automation solution can be extended. The product of BeezLabs, SmartFinance is a very generic version of Finance Cockpit, which enables automation of MJE files of any format postings in to SAP. This loosely translates to, Manual Journal Entries posting in any sector employing SAP can be automated with SmartFinance.
