In 2005, electronics manufacturer Flextronics International projected significant growth levels ahead and began looking for ways to scale up its financial functions without incurring an equivalent increase in costs. The $29 billion company, which is based in Singapore, decided to move certain functions to India to reduce expenses. The first department to make the trip was the global credit function.
At the time, the department was decentralized, with offices in Asia, Europe and the Americas, and processes were inefficient. “Everything was done through e-mails,” explains Paul Anderson, senior director of credit. “We didn’t have a database, other than an Excel file, which made it difficult to keep track of things.” As part of the move to India, the company decided to implement credit software to automate and simplify the department’s activities.