Jammu and Kashmir State Power Development Corporation Limited (JKSPDC), a Government of J&K enterprise, was incorporated in 1995 with the mandate to take over, execute, complete, operate, and maintain all power generation projects in the region. With a rich legacy dating back to the early 1900s—including the iconic 9MW Mohra Hydro-electric Plant—SPDC today operates hydroelectric projects totalling over 1210 MW, including the 900 MW Baglihar HEP. It also manages gas-based power generation units and reports an annual turnover of over USD 150 million, playing a critical role in the energy infrastructure of Jammu, Kashmir, and Ladakh.
Business Challenge
JKSPDC faced challenges in efficiently managing its growing financial operations, which were increasingly complex due to the scale and geographic spread of its projects. Legacy systems lacked integration, resulting in siloed data, manual reconciliation processes, and delays in financial reporting. With expanding operational responsibilities, there was a pressing need for a centralized, robust ERP system that could provide real-time visibility, automate processes, and ensure compliance.
Solution
To address these challenges, SPDC implemented IFS Applications (Version 8) with a focus on core finance modules. The solution included:
- Accounts Receivable
- Accounts Payable
- General Ledger
The implementation was executed in close coordination with SPDC’s internal teams, followed by AMC support services to ensure stability and continuous improvement. The IFS system provided a unified platform to manage financial transactions, streamline cash flow, and improve control across departments.
Impact
✅ Centralized Financial Operations: Enhanced visibility and control over receivables and payables
✅ Improved Efficiency: Reduced manual processing and accelerated financial closing cycles
✅ Scalable Framework: Prepared SPDC’s finance infrastructure for future growth and audits
✅ Real-Time Reporting: Enabled timely decision-making and regulatory compliance
