Streamlining Back Office Operations for a Mining & Trading Firm in India
A ₹6,500 crore Indian mining and trading giant specializing in iron ore and bauxite. With operations spanning across India’s industrial and trade landscape, the company supplies a diverse mix of buyers — from manufacturing conglomerates to local traders.
Yet, behind the scenes, its back office was under strain. Transaction errors, compliance delays, and an overreliance on manual processes had become more than operational nuisances they were beginning to threaten growth.
The Turning Point
“We can’t scale what we can’t control. Our operations are running, but our systems are running on fumes.”
Key Challenges
The challenges weren’t unique to this firm — but their scale was.
- Legacy Drains on Budget
78% of the back office budget was being swallowed by outdated workflows and systems, leaving little room for innovation or agility.
- Disjointed Systems, High Error Rates
Accounts payable, receivable, and expense tracking were managed through siloed platforms, leading to a 10% financial transaction error rate.
- Manual Compliance, Missed Deadlines
With tax filings and financial reports handled manually, regulatory reporting was frequently delayed putting the firm at risk of penalties and audits.
- No Clear View of the Future
Without integrated analytics, forecasting and budgeting were largely guesswork, a dangerous gamble in the ever-volatile commodities market.
The Transformation Journey
The firm partnered with a digital operations consultant to reimagine its back office using a three-pillar approach: Automation, Intelligence, and Capability Building.
- A modern cloud-based ERP system replaced legacy platforms.
- Unified transaction management slashed error rates by 28%, improved reconciliation, and gave leadership real-time financial visibility.
- Regulatory filings, audit trails, and tax documentation were automated using compliance-ready reporting tools tailored for India’s financial standards.
- 38% faster report generation, near-elimination of missed deadlines.
- AI-powered forecasting engines enabled dynamic scenario modeling, from market shocks to capex planning.
- Forecast accuracy improved by 22%, enabling more confident decision-making.
- Odisha-based teams were upskilled with targeted programs focused on digital tools, data literacy, and regulatory know-how.
- Operational efficiency climbed by 18%, and employee adoption soared — because they weren’t left behind in the transformation.
Conclusion
Through the adoption of a consolidated transaction platform, automated compliance tools, and AI-driven analytics, the company revolutionized its back office operations, achieving enhanced financial accuracy, regulatory compliance, and strategic agility in India’s mining and trading sector.
Key Takeaways
- Consolidated systems enhance transaction accuracy.
- Automation accelerates compliant reporting.
- AI analytics strengthen financial planning.
- Staff training ensures operational efficiency.
