Cutting-Edge Research Institution Streamlines Finance with Oracle ERP Cloud
Boosts efficiency, insights and decision making in 9 months with modern cloud platform.
Recognized as one of the top 15 research universities worldwide, the client is a leading public research university with nearly $5 billion in annual revenue. They offer over 200 undergraduate and graduate degree programs enrolling more than 36,000 students.
To increase efficiencies and improve decision-making, the client needed to replace their existing financial management system—which had become complex and expensive to update—with a secure, scalable and configurable business platform that could reduce redundant business processes and enable different campus systems to share financial data securely. Making sense of the data in their heavily-customized legacy ERP system was cumbersome for their finance team and required significant levels of technical support.
After a nine-month competitive bid process, which included participation from more than 100 stakeholders and subject matter experts, the client selected Oracle ERP Cloud. As part of their digital journey to streamline back-office processes and boost user adoption, the client partnered with ITC to improve their expenses process by implementing ERP Cloud and Expenses Cloud, extending their Oracle E-Business Suite. IT Convergence architected a solution with multiple integration points and leveraged Oracle ERP Cloud’s integration-ready architecture.
• Moved from overnight (and weekend) batch data processing to real time business insights
• Faster month-end and year-end closing for the finance team
• Ensured operational transformation and business continuity without any disruption in day-to-day operations
• Improved finance productivity and efficiency at reduced costs