Our client, a global media and publishing company with operations in North America and Europe, sought to maximize ROI through improved business decisions and reporting. They aimed to standardize best practices by implementing Oracle Cloud enterprise resource planning (ERP). Leveraging HCLTech's digital transformation expertise, our client partnered with us for a significant business transformation, overcoming challenges and joining the ranks of market leaders.
The Challenge
Navigating operational hurdles
Our client faced numerous challenges impacting their operational efficiency and growth:
- They grappled with the high total cost of ownership (TCO) associated with Oracle Cloud ERP, straining their finances. Their financial, procurement and supply chain processes needed enhancement to streamline operations effectively.
- Manual and time-consuming tasks, such as intercompany accounting and elimination, added to their administrative burden. Additionally, their Chart of Accounts (COA) lacked flexibility to adapt to digital business requirements, hindering their ability to keep pace with evolving demands.
- The absence of a user-friendly interface and limited visibility into transactional data impeded decision-making processes. Unoptimized integration calls per record negatively affected system performance and data handling.
- Manual steps in Accounts Payable (AP) invoice processing led to delays and potential errors in financial transactions.
Given these challenges, they sought comprehensive solutions to address these issues and propel their organization towards a more streamlined and efficient future.
The Objective
Key initiatives of our Oracle Cloud ERP solution
The primary focus for us and our client was on reducing the TCO associated with Oracle Cloud ERP while enhancing the efficiency of financials, procurement and supply chain operations. To achieve this:
- Efforts were made to automate and optimize intercompany accounting and elimination tasks, eliminating manual and time-consuming processes
- A key goal was to enhance the flexibility of the COA to accommodate digital business needs seamlessly
- Moreover, we aimed to improve user experience and provide better visibility into transactional data and insightful information for informed decision making
- By optimizing integration calls per record and streamlining Accounts Payable (AP) invoice processing, we sought to enhance system performance and reduce operational bottlenecks
Ultimately, the goal was to deliver comprehensive solutions that transformed our client's operations, driving them towards a more efficient, agile and successful future.
The Solution
Optimizing operations for enhanced efficiency
Our team conducted workshops to identify opportunities for de-customization using standard Oracle Cloud ERP functionality, enhancing efficiency. As a part of our solution for our client:
- We expanded the COA to enable seamless intercompany automation, promoting smoother operations
- We streamlined AP invoice processing, including purchase order (PO) and AP approval workflows, ensuring quicker transactions
- We developed integration with third-party logistics (3PL) providers for efficient order fulfillment, enhancing customer satisfaction
- We implemented integration strategy using Oracle Integration Cloud Services (OICS), facilitating seamless data exchange
- We improved workforce productivity and reporting accuracy, relevance and efficiency through a holistic approach, fostering a more productive work environment
The Impact
Achievements and advancements from our solution
Through our solution, we set the foundation for future growth and expanded COA to support current and future business needs:
- Reduced operating expenses by retiring old technologies and eliminating customizations
- Lowered the processing time by 20% and Java virtual machine (JVM) memory consumption by 10%
- Increased efficiencies via intercompany automation and streamlining business processes
- Improved user experiences by leveraging standard functionality
- Eliminated custom project customization by leveraging the Project Portfolio Module (PPM) module
- Enhanced AP invoice processing
- Supported digital business growth by improving reporting capabilities
