Institute of National Importance – Research Life Cycle Management

Institution Overview:

Our client  is a multidisciplinary Institute for patient care and academic and research pursuit in the frontier area of Neuro Sciences and is among the institutes of National importance standing as one of the fastest growing  Research Institutions  in India.


Challenges

  • Business processes were not Streamlined / Standardized
  • Availability of unreliable data
  • Person Dependant Process
  • Lack of  Fixed Asset management
  • Enable the research team to focus less on administrative issues and devote greater time in critical research activities with quicker reporting tools for the funding agencies;
  • Enable effective process of finalisation of the financial statement with greater audit compliance

SFACTS Implementation Benefits:

Sthira completed the project with record 5 months, which reflected in a significant increase in the ROI for the client.  Other tangible benefits included the following:

  • 100+ Project Investigator’s were able to access online their 250+ projects collectively, request cash advance,  Item Indent,  Generate UC & SOE
  • Track Fixed Asset Agency Wise, Division Wise, Department Wise, PI Wise & Project Wise.
  • The implementation impacted high visibility of the project operations and financial compliances.
  • The user experienced the power of real time and any time report generation.
  • Easy access to approval status through our Approval Engine across the Institution – Helped in transparency & accountability of the process
  • Track Letter of Credit (LC) for supplies with effective from and to date.
  • Manual entries of data has been eliminated, reducing redundancy and clerical errors
  • Generation of on-line reports across the application – Budget Summary, Commitments Outstanding,  Project Expenditure,  Day Book,  Income & Expenditure, Balance Sheet etc.,
  • It largely helped in:
    • Process integration
    • Smooth access to data across the organization / institution
    • Reductionin process time
    • Enhanced efficiency


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