Case Study
GET Global Group
GoodBooks ERP has significantly improved GET Global Group’s operational efficiency, financial management, and security, ensuring they remain competitive in the global market.
About GET Global Group
GET Global Group specializes in Integrated Project Delivery, offering services such as Integrated Crew Service, Technical Consulting, Asset Management, Technical Training for Oil and Gas Industries, Procurement, and Supply Chain Management (SCM). With over 3000 technical specialists deployed across MENA, Europe, America, and South Asia, they provide turnkey outsourced solutions for the upstream Oil and Gas Industry with bespoke technical consulting services.
Challenges Faced by GET Global Group
1. Consolidation of Trial Balance and Balance Sheet
Operating out of multiple locations including Dubai, KSA, Qatar, Oman, and India, the consolidation of their Trial Balance (TB) and Balance Sheet was crucial for their Management Information System.
2. Travel Tickets, Visa, and Insurance Management
The need for streamlined processes for travel tickets, visas, and insurance was critical. Automating these activities, including Purchase Order (PO) generation, was necessary for better control and efficiency.
3. Expense Mapping and Cost Tracing
Facilitating the mapping of expenses and tracing costs to specific clients, projects, and individuals required an integrated system to improve accuracy and accountability.
4. Foreign Exchange Loss/Gain Management
Managing foreign exchange rates and providing real-time information on the loss or gain of each transaction was essential for accurate financial reporting.
5. Automating Manpower Billing and Claims
Transitioning from manual to automated manpower billing and claims processes was needed to improve efficiency and real-time billing capabilities.
6. Invoicing for Manpower Expenses
Integrating invoicing for manpower expenses with tracked expense claims was required to streamline financial operations.
7. Enhanced Software Security
Enhancing software security, including implementing Multi-Factor Authentication (MFA) in line with international standards, was necessary to protect sensitive data.
8. Deferred Revenue Expenditure Management
Managing deferred revenue expenditure efficiently was important for accurate financial planning and reporting.
GoodBooks ERP
GoodBooks ERP offered comprehensive solutions to address GET Global Group’s challenges, ensuring seamless integration and improved operational efficiency:
Solutions Provided by GoodBooks ERP Software
Consolidation of Financials: The multi-currency options and consolidated group currency feature of GoodBooks ERP facilitated the easy consolidation of TB and Balance Sheets across multiple locations. This provided an essential benchmark for their Management Information System.
Automation of Travel and Related Processes: GoodBooks ERP streamlined travel tickets, visa, and insurance management by automating the activities, including PO generation. This ensured better control and higher efficiency through a robust approval process.
Expense Mapping and Cost Tracing: The system enabled detailed mapping of expenses and cost tracing to clients, projects, and individuals, improving accuracy and accountability.
Foreign Exchange Management: Automated management of foreign exchange rates provided real-time information on the loss or gain of each transaction, ensuring accurate financial reporting.
Manpower Billing and Claims Automation: The ERP system automated the previously manual manpower billing and claims process. Real-time integration of claims and billing improved operational efficiency.
Integrated Invoicing: Invoicing for manpower expenses was integrated with tracked expense claims, streamlining the financial operations and ensuring timely invoicing.
Enhanced Security Measures: Implemented enhanced software security measures, including MFA, in line with international standards to protect sensitive data and improve overall security.
Deferred Revenue Expenditure Management: The facility to manage deferred revenue expenditure efficiently was incorporated, aiding in accurate financial planning and reporting.
Selection of GoodBooks ERP
GET Global Group evaluated over 20 ERP vendors for this prestigious account. GoodBooks ERP was selected based on several key parameters:
- Product Excellence
- Impressive User Experience (UX) and User Interface (UI)
- Technical Competence of the Team
- Support Services
Locations – Coimbatore | Chennai | Mumbai