Situation at The Technology Firm Before Oracle ERP Cloud
The Technology Firm provides a self-service, cloud-based platform for buyers of advertising to optimize the management of media and campaigns. In the midst of significant growth, the client realized a need for extensive process automation and expansion of functionality on a global scale. The client needed a comprehensive ERP solution to go live in 14 countries and effectively manage the complexities of international regulations. The client sought to replace its core systems with a single integrated cloud solution to strengthen its foundation and modernize business operations. The client defined the following key objectives:
- Establish dual functional currencies to support US GAAP and local legal requirements
- Enable intercompany transactions in subledgers
- Support Value-Added Tax (VAT) for international entities
- Automate MJE approvals, posting of revaluations, and allocations
- Support statutory adjustments and reporting
- Enable fixed assets tracking and deprecation for US GAAP and statutory reporting
- Streamline AP invoice approvals
- Establish direct payment integrations between AP and banks
- Procure a robust security module to implement segregation of duties (SOD), maintain detailed audit logs, and ensure SOX compliance and automated reporting
- Support complex AR reporting (multiple invoice templates, statements, aging etc.)
"...offered tremendous amount of support during and after our Oracle Cloud ERP implementation project. Both functional and technical teams have shown the expertise and professionalism that is unrivaled. The highly skilled team worked with us tirelessly to deliver quality solutions in all areas at critical times."
Finance Systems Architect, Client"...offered tremendous amount of support during and after our Oracle Cloud ERP implementation project. Both functional and technical teams have shown the expertise and professionalism that is unrivaled. The highly skilled team worked with us tirelessly to deliver quality solutions in all areas at critical times."
Finance Systems Architect, ClientSolution & Benefits of ERP Cloud for Digital Services Providers
With the implementation of Oracle ERP Cloud, the client is now able to effectively navigate the changes that come with incredible global growth. The client’s modern integrated solution supports multiple currencies and ensures compliance with statutory requirements.
Automation and key integrations have enhanced reporting and significantly reduced operating costs for the client. Key benefits of the client’s Oracle ERP Cloud solution include:
- Integrated global ERP solution
- Multi-currency support to meet statutory requirements
- Robust security
- Automated integrations
- Efficient and accurate reporting
- Significant reduction in operating costs
- Real-time AP and AR aging reports
Solution Components:
- Oracle ERP Cloud
- Financials
- Procurement
Why AST?
The client’s integrated Cloud ERP solution strengthens the company’s globalization efforts by automating key processes, supporting multiple currencies, and reducing costs – all on a secure and modern Cloud platform.