A Global Networking Company Partners with IT Convergence
Challenge
- Disconnected systems leading to duplicated data entry and reconciliation issues
- Reliance on outside service providers for data entry for financial processes and government filing
- Significant service charges by outside service providers
- Cumbersome closing and internal control process due to accounting books maintained by 3rd parties and files being transferred back and forth to ensure accuracy and completeness
- Dependency on 3rd parties to make the financial transactions compliant with local regulations
Solution
ITC carried out the Global Design and Roll out of Oracle’s R12.2 Financials and Procurement following the best business practices. As a result this rollout transformed the enterprise structure as compared to the original footprint. Which we were able to execute thanks to efficient change management. We also provided training to local teams to educate them on the local regulatory compliance requirements.
Results
Thanks to our holistic services approach our client received the following benefits:
- Significant cost reduction by being able to brink book keeping and government filling activities in-house thanks to technology change
- Single source of truth and better control on data through integrated systems and streamlined processes
- Simplified and accelerated Global consolidation process
- Promptly react to errors as all the records are in-house now and didn’t depend on 3rd parties
- Enter bi-lingual information that can be accessed by local and corporate teams without any dependency on each other
- Enhance their reporting capabilities using the country specific localization reports provided in local language