Established in 2006, United Nanotech Products Limited Is a 50:50 Joint Venture of United

Situation

Established in 2006, United Nanotech Products Limited is a 50:50 joint venture of United Nanotechnology Private Limited with NEI Corporation of the US. It engages more than 60 skilled professional and is associated with the best scientists in the field of nanotechnology. It manufactures nanotechnology based lithium-ion battery electrode materials for markets in Asia and South East Asia.Thisjoint venture aimed to manufacture and sell nanomaterials for next generation batteries

It aims to cater products based on nanotechnology for the Indian market. It is oneof the first companies to commercialize nanotechnologybased products into the Indian market.

An initial investment of U.S.$3 million (INR 12crore)created a manufacturing facility with a capacity of 120 tons per annum of lithium-ion battery electrode material. In the future, the company plans to increase capacity to 280 tons per annum.

UNTPL does business withthe Asian countries and thus needed procedures to handle accounts and reports on foreign currencies with fluctuating exchange rates.Before the installation of Microsoft Dynamics NAV,there wasn’t any database application or any solution which can take care of its financial management, inventory or stocks. In addition, the complex products and manufacturing processes required an integrated financial application to manage purchase, inventory, and fixed assets and should incorporate proper authorization at critical stages.

Solution

Thus highly technical, efficient and single integrated business solution was desired. UNTPL wanted to have stable and scalable software keeping in mind the growing business prospects. It wants to be described as process oriented organization.

The company evaluated various ERP solutions available in the market such as SAPand finally decided to implement Microsoft Dynamics NAV 4.0 with the help of Microsoft Gold Certified Partner, Ontrack Systems India. The implementation was completed within 6 months, starting in Nov,2007 and completed by Nov 08.Implimentation is still under progress.

In the first phase of implementation, financial management modules such as finance and accounts, fixed assets management, purchase management and compliance with sales tax, service tax, excise, tax deducted at source, value added tax etc. have been implemented.

The company is using the purchase and finance modules currentlyto get real time information, in financialmanagement and develop insights into business, take strategic decisions business decisions.

In the second phase, which is currently under implementation, Ontrack Systems has begun deploying the sales related modules.

The Manufacturing module is yet to be implemented. This will begin oncethe factory in Sakrail is established.

Benefits

“Microsoft Dynamics NAV offers us the advantages of an open and secure technology framework that is trusted by its millions of customers. It has helped us bring in efficiencies in day-to-day activities,” says Shuvodip Mukherjee, System Administrator, United Nanotech Products

Ensures Regulatory Compliance

Microsoft DynamicsNAV helps UNTPL to manage its financial systems efficiently and ensures compliance with regulations related to tax laws such as tax deduction at source, service tax and value added tax. “Managing taxation and compliance with Indian government regulations becomes very cumbersome without an effective tool. By deploying Dynamics NAV, we ensure compliance of all our financial systems for taxation as well as Clause 49,” comments Anup Gupta, Accounts and Finance Manager, United Nanotech Products.

Improves Foreign Currency Management

UNTPL does business with other countries of Asia and the company needs to manage multiple currencies in all its operations. With the help of Microsoft Dynamics NAV, UNTPL can easily set up and maintain multiple currencies throughout the solution for a variety of areas, including payables and receivables, general ledger reports, bank accounts, resource and inventory items.

Better Tracking Leads to Improved Financial Management and Transparency

Since Dynamics NAV centralizes the company's accounting information and manages other core aspects of business, therebymaking information availability and transaction tracking far simpler. “Employees can log in and explore the most up-to-date financial data, track resource costs and usages, plan capacity and predict availability, and assign alternative prices and costs,” explains Anup Gupta.

It can help to access the financial information to spot trends and gain business insight, make faster smarter decisions, and thuscan contribute to the growth of the organization.

This will eliminate interdependence of various solutions, people and departments to provideincreased transparency of information.

Effective Inventory Management

Microsoft Dynamics NAV helps in cost reduction by streamlining inventory management processes. UNTPL benefits from better visibility of inventory to create a more streamlined business.“We knew that to get ahead and stay in front in the business, we will need a business solution that will help us identify and respond quickly to new revenue opportunities. With Microsoft Dynamics NAV, we’ll always know the status of our business at any given moment”, says Shuvodip Mukherjee.

About Ontrack Limited

Ontrack Systems Limited (OSL) is an ISO 9001:2000 certified, publicly-traded Global IT & IT Enabled Services company with a reputation for helping customers conceive, build, deploy and support world-class technology solutions. The company offers a wide array of software and networking expertise across industries. Ontrack has a skilled and experienced manpower of over 200 IT professionals across the globe involved in projects spanning vertical industries and related applications.

Microsoft Dynamics

Microsoft Dynamics is a line of integrated, adaptable business management solutions that enables you and your people to make business decisions with greater confidence. Microsoft Dynamics works like familiar Microsoft software such as Microsoft Office, which means less of a learning curve for your people, so they can get up and running quickly and focus on what’s most important. And because it is from Microsoft, it easily works with the systemsthat your company already has implemented. By automating and streamlining financial, customer relationship, and supply chain processes, Microsoft Dynamics brings together people, processes, and technologies, increasing the productivity and effectiveness of your business, and helping you drive business success.

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