On Tuesday, 27th October, 2020 Bhoopalan Y. Padua of Vault-ERP interviewed me for the company blog.
One of the questions was "You have astonishing success rate in ERP implementations. What is your secret?"
My mind went back 25 years to the time I was doing my MBA in Finance.
"To
be successful, every ERP consultant should know accounting. She should
know the accounting impact of each transaction on P&L, BS and CFS.
While I was doing MBA I used to maintain an expense journal where I noted every daily expense in Debit-Credit format. If I buy fruit for 100 rupees from local market I will enter in my journal "Debit Fruits Purchase - 100, Credit Cash - 100". I used to do this for over two years. This gave me a clear grasp on accounting and exponentially improved my effectiveness as an ERP Consultant."
"That was one secret, learning accounting"
"The second was between 2000 and 2004 when I was implementing an ERP application called SCALA. It was a single consultant, SME focused ERP application. I had to deliver all the flow cycles, P2P, O2C, A2R, D2B, Record to Report....
This gave me a solid grounding in end to end ERP process flows. I can look at a transaction and determine its impact on the Share Price of the company"
Another secret is my ability to conceptually grasp India Localization. I have implemented India Localization from year 2001. I have been a part of all the changes that happened over the last two decades. I have implemented Local Sales Tax, Value Added Tax and GST. I know the importance of compliance reporting. I also know how complex and difficult it is to implement and am aware of the resourcing challenges in implementing the same. Hence I give special emphasis to India Localization and constantly monitor any associated risks.
These are my secrets, I told him.
No comments:
Post a Comment