Cloud solution improves procurement process and reporting capabilities at cancer treatment developer

Business Challenges

  • Disparate, Stand-Alone Systems – Drain on finance team’s productivity to aggregate and analyze data from various systems for reporting purposes, leaving little to no time for value-added analysis
  • Labor Intensive Purchase Order Process – No systematic way to create purchase orders from requisitions without constant manual intervention
  • Poor Subledger to General Ledger Reconciliation – No system to track subledger activity to easily reconcile against general ledger journal entries

Solution

  • Enhanced Capabilities in an Integrated Cloud Solution
    • A single integrated Oracle Enterprise Resource Planning (ERP) Financials Cloud solution includes general ledger, accounts payable, accounts receivable, cash management, and fixed assets modules
    • Self-service procurement and purchasing mechanisms available via Oracle ERP Procurement Cloud delivers seamless requisitions and purchasing processes
  • Automated Processes – Added automation for purchase, procure to pay, and payments to bank statement reconciliation activities to streamline process

Impact

  • Improved Procure to Pay Efficiency – Minimized time-consuming manual transactions across entire procure to pay cycle
  • User-Friendly Purchasing Functionality – Seamless buying experience allows for quicker adoption of requisitions from approved suppliers without excessive training
  • Increased Oversight and Compliance Controls – Robust approval management process increases enforced spending controls and policy compliance
  • Better Reporting Capabilities – Power of cloud computing enhanced reporting by providing real-time data and analytics, ensuring a detailed and honest view of business performance and health