New Delhi: myTVS, a digital business model in the automotive aftermarket industry, has been making waves with its innovative approach to delivering services to customers, retailers, and garages. The company is India’s largest automotive aftermarket digital platform, and part of the US$2 billion TVS Mobility group, providing digital services to 3 million customers, 20,000 retailers and 25,000 garages across the country.
The company’s business model is fully digital, and customers can book services through an app. As soon as a vehicle comes into the garage, the company does a thorough inspection, and customers receive an inspection report along with an estimate that they can approve digitally. Post-service completion, the vehicle is given back to the customer, and the company offers free pickup or delivery across most major cities. On the part side, myTVS represents 65 suppliers and 85+ brands through an app where retailers and garages can search for a specific part, make or model and place an order. The entire process operates on a digital business model that has its offline service in terms of delivery.
Siloed systems hinder decision making process
As the company looked at scaling up its business further, it decided to look at ways to improve its business. For example, myTVS’ finance and operations data was dispersed across multiple siloed on-premises applications, and the company had multiple systems that it had to operate on because it had multiple sets of our pieces or positions.
“Procurement happened in one company, and inventory delivery across different companies took a long time. We did not have a single view of both the customer and our inventory,” explains Sai Satheesh Sadgopan, Chief Technology Officer, myTVS.
To improve financial insights and better match inventory with customer demand, the company needed to integrate data across all its brick & mortar stores, and digital platforms to improve real-time insights, optimize business processes, and reduce costs. To achieve this objective, the company decided to implement Oracle Fusion Applications for its finance and supply chain functions.
Given the fact that myTVS moved to the cloud about five years ago, the company was very clear that it wanted a cloud-based solution. Secondly, the company wanted the solution to be able to configure to the processes that it already had and also leverage the best practices that the solution could offer. “Our business model is unique, one of the first in the world in terms of running an automotive aftermarket and digital business product. So we wanted flexibility in the software to configure the processes to our needs. At the same time, we wanted the solution to offer us the best practices that we could take along with us. We were looking for a combination of both to help us try like this. Third, we were looking for a solution that not only works on the business process but also on the data analytics side. We were very clear that everything is going to be based on data processes, AI algorithms, and anything that needs to run on top of this solution needs to have a single source of data to help us have better visualization of the data. Oracle offered us a cloud-based solution as a roadmap, which enabled us to select Oracle for these three primary factors,” states Sai.
As the solution is cloud-based, it provides myTVS with all the advantages of a cloud-based solution. “Cloud
providers, like Oracle, provide businesses with the infrastructure, applications and tools they need to efficiently store, interpret, and process large amounts of data by combining cloud computing and analytics. Using cloud-based analytics, businesses can quickly and easily access and analyse their data from any location or device. This enables businesses to make faster and more accurate data-driven decisions”, says Kaushik Mitra, Senior Director, Cloud ERP, Oracle India.
Today, with Oracle Fusion Applications, myTVS can standardize processes and create a single source of truth to improve the speed and quality of decisions and enable the organization to quickly respond to changes in supply and demand.
Enabling a single view
The implementation of Oracle Fusion cloud applications has had a significant impact on the company’s business operations. Says Sai, “First and foremost, it has enabled us to have a single view of our inventory across all our warehouses, which has allowed us to optimize our inventory management and improve our delivery times to customers. We are now able to prioritize deliveries based on demand and availability of stock, which has helped us meet our commitments to customers in a timely manner. Secondly, the automation of our procurement process has enabled us to streamline our vendor management and improve our relationship with suppliers. We now have real-time visibility into our procurement process, which has helped us to negotiate better pricing and payment terms with our vendors. Thirdly, the implementation of Oracle Fusion cloud applications has enabled us to improve our financial management and reporting. We now have real-time access to financial data and analytics, which has enabled us to make more informed business decisions and improve our financial performance.”
Overall, the implementation of Oracle Fusion cloud applications has helped the company improve its operational efficiency, reduce costs, and enhance customer service, which has had a positive impact on its business growth and profitability.
The biggest impact is the consolidation of data into one single system, which enables the company to close its monthly books and reports faster. Secondly, the flexibility in the process has allowed myTVS to try out new business models. Says Sai, “We are talking about a four-hour delivery. The software solution should give us all the features to enable us to ensure that the order gets accepted, inventory is there at the location so that we can meet our business promises. This elevates our customer experience because we can deliver products within a stipulated period, leveraging the full extent of the software capabilities that Oracle provides. Thirdly, the entire data is in one single place. The machine learning algorithms that Oracle provides, like the planning module, allow us to better plan inventory”
With Oracle Fusion Cloud Enterprise Resource Planning (ERP), myTVS will be able to increase productivity, reduce costs, and improve controls, while Oracle Fusion Cloud Enterprise Performance Management (EPM) will help to improve speed and accuracy in reporting, reduce the time to close the books, and help senior leaders make better decisions. Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) will give its supply chain leaders real-time visibility into inventory across various distribution centres and in transit, streamline the procurement process, and significantly reduce the ordering cycle time.
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