Recently, we interacted with Mr. Vivek Gaur, Partner Director, Vital Wires – an authorized SAP consulting & Implementation Partner, RISE S4/ HANA Cloud Partner with presence across India, UAE, US and Mauritius.
Here are the interview highlights:
- Please throw light on your venture? Where did you get the idea for this company?
Founded by IIT and IIM alumni, Vital Wires is preferred SAP partner for both growing mid market customers and Enterprise Customers known for providing deep functional consulting experience to its clients.. The company has clients across various industries such as CPG, FMCG, Retail and Distribution, Cosmetics-Personal Care, Manufacturing, Steel, and Mining. With SAP/ERP as its core strength, the company has been a go-to partner for more than 100 clients in India, UAE and the USA since its inception.
The organization has been deploying latest and disruptive ROI oriented technologies while meeting organizational requisites. Being one of the early adopters in Digital landscape, Vital Wires connects with customers as a strategic SAP Digital partner helping them bring out systems and solutions which are lean, and highly optimized. Vital Wires is known for its customer-centric approach and delivering technology that helps clients achieve the best results.
With an experienced team across all core modules and specializing in new-tech offerings, our team bring expertise across traditional SAP services to new age HANA and SAP Digital and Mobility platforms. The company use Design thinking, IOT, ML & AI Layer to deliver technology that is usable, quick, and lean to deploy with the highest adoption and ROI to customers.
The company has developed multiple proprietary solutions over the SAP framework, which has helped customers adopt the best business practices on SAP framework. The Consulting lead Solution Delivery across SAP & extended SAP Landscape with XFE (Experience Focused Engineering) approach is their unique proposition and has won them as one of the Top 20 Digital Transformation Service Providers 2017.
The company is highly solution-oriented and focuses on tools and processes in SAP that help clients make proactive business decisions. Vital Wires has deep expertise in Business Analytics (SAC) Business Intelligence, Group Reporting, Marginal Analysis, Treasury & Risk management, which helps clients leverage the SAP platform intelligently.
- Please enlighten our readers about any of your recent case study?
For one of the customer in Beauty Segment who we recently Implemented SAP they had operations in multiple countries with vast distribution and retail network. Few of the critical challenges which they faced were:
- Supply Chain Management: Operating across multiple geographies navigating complex import/export regulations, transportation logistics, and varying infrastructure capabilities in different countries.
- Inventory Management: Maintaining accurate inventory levels and optimizing stock across multiple countries. Factors such as differing demand patterns, lead times, and local market preferences required considerable planning.
- Currency Exchange and Financial Management: Operating across multiple countries means dealing with different currencies, exchange rates, and financial regulations. Managing currency risks, hedging strategies, international payments, and financial reporting added to complexity to financial management.
- Human Resources and Talent Management: Recruitment, training, and retaining skilled employees additionally, navigating labor laws, cultural differences, and employment practices as per country specific requirements.
- Regulatory Compliance: Each country has its own set of regulations and compliance requirements, including taxation, labor laws, product safety standards, and data protection regulations were very time consuming to manage.
- Logistics and Transportation: Coordinating international shipments, managing multiple carriers, and dealing with customs clearance processes was a logistical challenge.
- Integration with Third Party applications – POS integrations, managing retailers and distributors discounts geographically was every daychallenge
Vital Wires with its deep business process understanding of this vertical and capabilities of S4/HANA enterprise suite help customer ease all these critical challenges.
In record time we delivered as per the expectations of the client covering all the concerned challenges. We together delivered on following KPI –
- Industry best practices with process simplifications
- Significant productivity Improvement
- Visibility and control as per company policy, procedures and law of land
- Optimized financial management & statutory reporting
- Easy to demonstrate statutory compliances.
- Lower working capital
- Higher customer serviceability
- Optimized human resource management
- Remove data duplicity
- Optimized Inventory Level
- Quick decision making with BW on HANA analytics
- Why SAP S4 HANA is inevitable to better address consumer needs, reduce costs, drive Efficiency, Innovation, and beat the competition.
SAP S/4HANA is a next-generation enterprise resource planning (ERP) system offered by SAP. It is considered inevitable for businesses looking to address consumer needs, reduce costs, drive efficiency, foster innovation, and gain a competitive edge. Here are several reasons why SAP S/4HANA is crucial for achieving these goals:
- Real-time insights: SAP S/4HANA is built on an in-memory computing platform, allowing for real-time data processing and analytics. This enables businesses to gain instant visibility into their operations, make data-driven decisions, and respond quickly to changing consumer needs. With real-time insights, companies can better understand customer preferences, trends, and demands, leading to enhanced customer satisfaction.
- Simplified landscape: SAP S/4HANA simplifies the IT landscape by consolidating data and eliminating redundancies. It integrates various business functions and provides a single source of truth for data across the organization. This simplification streamlines processes, reduces complexity, and improves operational efficiency. It also enables seamless collaboration between departments and facilitates faster innovation and decision-making.
- Enhanced user experience: SAP S/4HANA offers a modern and intuitive user interface (UI) called SAP Fiori. Fiori provides a personalized and role-based experience, making it easier for employees to navigate and perform their tasks efficiently. The intuitive UI reduces training time, enhances productivity, and improves user satisfaction, leading to better customer service and increased employee engagement.
- Advanced analytics and reporting: With SAP S/4HANA, businesses can leverage advanced analytics capabilities to gain deeper insights into their operations. The system integrates predictive analytics, machine learning, and artificial intelligence to identify patterns, trends, and anomalies in data. This helps businesses make proactive decisions, optimize processes, and identify new revenue opportunities. Additionally, SAP S/4HANA provides comprehensive reporting and visualization tools, enabling users to generate customized reports and dashboards for effective monitoring and decision-making.
- Agility and innovation: SAP S/4HANA is designed to enable agility and innovation within organizations. It provides a foundation for digital transformation by supporting emerging technologies such as the Internet of Things (IoT), blockchain, and Big Data. By leveraging these technologies, businesses can automate processes, optimize supply chains, develop new business models, and deliver innovative products and services. SAP S/4HANA also offers flexible deployment options, including on-premises, cloud, or hybrid, allowing businesses to choose the approach that suits their needs.
- Cost reduction and efficiency: SAP S/4HANA helps businesses reduce costs and improve efficiency through various means. By streamlining processes and eliminating redundant systems, organizations can achieve cost savings. The real-time insights provided by S/4HANA enable better inventory management, demand forecasting, and resource allocation, reducing waste and optimizing operational efficiency. Additionally, the simplified landscape and user-friendly interface minimize training and support costs, while automation and digitization drive productivity gains.
- Competitive advantage: SAP S/4HANA provides a competitive advantage by enabling businesses to respond quickly to market dynamics, consumer demands, and industry disruptions. By harnessing real-time insights, businesses can deliver personalized customer experiences, develop innovative products and services, and stay ahead of the competition. The agility, efficiency, and cost reduction achieved with S/4HANA create a strong foundation for growth and market leadership.
- What are the Key USPs that stands you apart from the companies operating in the same sector?
The company has a strong track record of delivering solutions to diverse industry verticals, such as CPG/FMCG, Retail, Cosmetics, Mining , Manufacturing Oil and Gas. The expertise in these areas sets you apart from other competitors and allows us to provide tailored solutions that meet the unique needs of the clients.
In addition, Vital Wires expertise extends beyond the core SAP modules to include SAC, Analytics, Group Reporting, Treasury & Fund Management, IFRS, and integration projects. This broad range of solution capabilities enables us to provide end-to-end solutions that address a wide range of business challenges.
The company’s commitment to delivering projects on-time and on-budget is a key differentiator. This demonstrates a strong focus on customer satisfaction and a willingness to go above and beyond to ensure successful project outcomes. The company’s industry expertise, solution capabilities, and commitment to customer success position you as a strong partner for businesses in need of SAP solutions.
- What is Vital Wires growth trajectory?
This year Vital Wires starting operations in 3 more countries, growing by at least 50% compared to our last year revenues.
- What are your growth priorities for 2023?
We look forward to expanding operations globally opening Canada and European Market. Our past experience and recent projects especially in CPG, Retail and Distribution industry give us an edge to focus on critical challenges in this industry and help our customers use technology to mitigate their operational challenges and benefit as technology evolves day by day.
We plan to focus on AI and ML technologies to automate many processes with less human intervention, driving data driven growth for our clients.