Enhancing Financial Efficiency for a Leading IT Services Company through Oracle Fusion ERP Optimization

Our Client

Our client is an industry-leading digital engineering and enterprise modernization firm with a global footprint and a strong presence across North America, Europe, and Asia. Headquartered in India, they specialize in helping organizations accelerate their digital transformation journeys through cutting-edge solutions in product engineering, cloud modernization, data, AI, and intelligent automation.

Renowned for their deep domain expertise and innovation-first approach, they partner with some of the world’s most respected brands to drive operational excellence and future-ready transformation. With a commitment to delivering scalable, secure, and agile digital experiences, the company continues to redefine how businesses across sectors embrace change and thrive in a digital-first world.

Major Challenges

Our client faced several challenges with their Oracle Fusion ERP system, particularly in the areas of intercompany transactions, invoice processing, and month-end closing activities. Key issues included:

• The intercompany module transaction upload template did not include a tax field, leading to manual updates in both Accounts Payable (AP) and Accounts Receivable (AR) modules for tax information. 
• Inability to select multiple entities or evaluation categories during month-end processing resulted in inefficiencies and increased manual workload. 
• Users were required to apply invoices to prepayments individually, complicating the accounting process. 
• Opening or closing accounting periods for various modules was a time-consuming manual task. 
• Users needed interactive dashboards for online reconciliation views, hampering visibility and efficiency. 
• Once closed, the Fixed Asset period could only be reopened with Oracle support, complicating accounting processes. 
• Absence of automatic posting from subledgers to the General Ledger created delays. 
• The inability to apply debit/credit memos in the AP module led to separate balances, complicating reconciliation. 
• Handling intercompany transactions, especially when payments were collected by different entities, created complications in AR aging.

Conneqtion Solution 

To address the above business challenges, we came up with a multi-faceted solution strategy as below: 

• Our team explored options for customizing transaction upload templates in Oracle Fusion to include a tax code field. 
• We evaluated job sets and integration solutions by automation, reducing manual intervention. 
• Processing time was reduced by applying multiple invoices to a single prepayment. 
• Open/close process for accounting was automated across all modules. 
• We created interactive dashboards for real-time reconciliation visibility, allowing end users to drill down to details. 
• Our team further worked on a solution to enable easier application and clearing of debit and credit memos, enhancing transaction matching. 
• Helped devise a strategy for managing intercompany transactions, ensuring accurate AR aging and minimizing manual entries. 

Business Implications 

The implementation of these solutions led to significant improvements for our client’s financial processes: 

• Conneqtion’s initiatives led to a remarkable 70% increase in automation across various financial processes, drastically reducing the need for manual intervention. 
• The month-end closing process saw a 55% improvement in efficiency, enabling the finance team to close books faster and with greater accuracy. 
• The introduction of interactive dashboards provided real-time visibility into reconciliations, allowing for quicker issue resolution and better decision-making. 
• The automation of repetitive tasks and the introduction of user-friendly functionalities reduced the overall workload on finance personnel, allowing them to focus on more strategic activities. 
• By streamlining previously time-intensive processes, our client achieved a substantial reduction in effort from 80 hours to just 36 hours per cycle across a three-member finance team. This automation initiative translated into an annual cost saving of over $63,000, demonstrating both operational efficiency and strong financial ROI. 

Conclusion 

By overcoming key challenges in intercompany transaction management, our client significantly transformed its financial operations. Through the strategic implementation of customized automation solutions, they achieved enhanced accuracy, streamlined processes, and greater operational efficiency. This transformation not only optimized current workflows but also laid a strong foundation for future scalability and growth.