Case study: Meezan Bank
JBS and Oracle implement procure to pay solution for Meezan Bank
- Solution modules
- Oracle EBS Suite Solution that includes procure to pay process.
- Oracle Purchase.
- Oracle iProcurement.
- Oracle Inventory Management.
- Oracle Integrated Payable.
Executive summary
Jaffer Business Systems, being one of the largest IT Services and Solution providers has always strived for customer excellence and aimed to resolve the issues of our customers. One such project was recently completed for Meezan Bank where JBS took on the task to enhance their responsiveness to evolving Branch Network & Digital Automation. We transformed their legacy purchasing & inventory semi-automated solution with the robust and Integrated Procure to Pay Solution.
Our client- Meezan Bank
Meezan Bank, Pakistan’s leading bank, is one of the fastest growing financial institutions in the banking sector of the country. The First and Largest Islamic Bank commenced operations in 2002, after being issued the first-ever Islamic commercial banking license by the State Bank of Pakistan.
The challenges
- Since the purchase process is either initiated through email or through hardcopy by the branches, there are delays and the additional cost of maintaining the paper cost.
- Challenging to maintain the operational commitment due to the delays in the equipment delivery.
- Physical box files are needed to maintain the records of vendors and past purchase history.
- Lack of accurate inventory status makes it a challenge to arrange items on short notice.
- The Purchase and Admin department was unable to show their actual performance on cost-saving and operation efficiency.
Key challenges
- Decentralized procurement & delays in approval process.
- No instant record available of previous purchasing.
- Semi-Automated arrangement of inventory management.
- Need to enhance operational efficiency & maintain history for future decision.
- Need to obtain a robust, agile, and easy to maintain Procure to Pay process.
Business benefits achieved
- By Integrated Purchasing & Payables, the company was able to reduce costs and improve its margins.
- A significant decrease in spending on goods and services - Packaged analysis of payables, spending, and suppliers.
- Streamlining all Procurement Practices – end to end automation (From Purchase Requisition Initiator till Supplied and payment), policy-driven self-service.
- Able to enforce Fiscal Policies across procurement process – exception-based enforcement, unified financial & procurement controls, total procure to pay visibility.
The solution
Oracle EBS drives better decision-making and maximizes asset usage combined with Oracle E-Business Suite's comprehensive end-to-end procurement solution. It helps in streamlining and optimizing the enterprise acquisition cycle using Oracle Procure-to-Pay. The solution was to set up and configure each module, generate contracts, and purchase orders (POs), perform automatic invoicing, process payments, and enforce fiscal policies. These are powerful new purchasing and payables features. The company was able to:
- Manage POs and strengthen policy compliance using Oracle Purchasing.
- Track documents from the buyers' work center and demand workbench.
- Centralize requisition creation and approvals.
- Create and use sourcing rules for supplier purchases.
- Use Oracle Payables to process invoices and handle settlements.
- Consolidate and disburse funds using Oracle Payments.
- Understand key setups for Oracle Purchasing, Oracle Payables, and Oracle Payments.
Timeline of the project
Initially, the JBS team proposed an expected time of 7 months for the completion of the project. However, when the pandemic hit, it was not realistically possible to complete the project at the predetermined time. Additionally, the security policies of the bank did not give us the option to work remotely. Despite these challenges, we were successful in completing the project in 11 months, without compromising on our standard of services.
Through this project, JBS transformed Meezan Bank's purchasing & inventory semi-automated solution with the robust and integrated Procure to Pay Solution, leading to improved margins
About us
Jaffer Business Systems (Private) Limited is a system integrator based out of the MENAP region that provides its customers with creative Information Technology solutions to their business challenges. Its strategic initiatives include Scale, Excellence, and Innovation. This pursuit of excellence has enabled JBS to win the hearts of more than 200 customer organizations locally and driven this company to continue serving its customers with a passion for growth through innovation.