NEW DELHI: India's leading agricultural retail and e-commerce player, IFFCO eBazar Ltd, tapped Cloud major Oracle to modernise its finance operations and drive growth, the companies have announced.
IFFCO eBazar Ltd is using Oracle Fusion Cloud Enterprise Resource Planning (ERP) to unify its finance operations and drive greater efficiency and productivity.
Established in 2016, IFFCO eBazar Ltd delivers agricultural inputs and services at a reasonable price to farming community under one roof through more than 3,200 retail stores in the country.
IFFCOeBazar has a turnover of more than Rs 2,200 crore.
"Our objective is to be the trusted partner for India's farming community for their betterment and upliftment and provide them with better accessibility of quality and innovative agri-inputs and services at affordable prices," said Madhulika Shukla, CEO, IFFCO eBazar Ltd.
To consolidate finance on a single, highly secure, and scalable cloud platform and eliminate inefficient manual processes, IFFCO eBazar selected Oracle Cloud ERP in December 2021.
It then consolidated multiple finance systems onto a single integrated finance platform to increase productivity, reduce costs, improve controls and ultimately better decision making.
Additionally, Oracle's quarterly updates allow IFFCO eBazar to benefit from a regular cadence of new capabilities that are added every 90 days, without business disruption.
"The agriculture sector in India is rapidly growing and IFFCO eBazar is well positioned to help farmers capitalise on growing business opportunities with better management of the commercial aspect of their businesses," said Deepa Param Singhal, vice president, cloud applications at Oracle India.