The document discusses optimizing a company's general ledger to meet both management reporting and statutory requirements as the company grows. It describes the client's issues with inaccurate financial reporting, lack of currency translation and inter-company billing. The solution implemented new accounts, enabled an ERP billing module for inter-company transactions, and configured book codes and translation steps to automate manual processes and improve financial accuracy and efficiency.
Complexities of Separating Data in an ERP Environmenteprentise
In an Enterprise Resource Planning (ERP) environment, multiple organizations can exist within a single instance. How does the data belonging to these organizations co-exist, and what are the challenges that companies face when they have to separate the data based on business reasons? With a focus on Oracle E-Business Suite (EBS), our speaker Chief Technology Officer of eprentise and Managing Director of eprentise India, Anil Kukreja will explore the best ways to address complexities in ERP environments to achieve success when separating data in this session.
Learning Objectives: After completion of this program you will be able to:
• Objective 1: Understand how data for multiple organizations reside in a single ERP environment.
• Objective 2: Understand the complexities involved in separating data for organization(s) in an ERP environment.
• Objective 3: Achieve success in separating data for organization(s) to meet business objectives.
[Whitepaper] Aberdeen Research Report: AP Invoice Management in a Networked E...Anybill
The Aberdeen Group just released their newest research report, "AP Invoice Management in a Networked Economy." The report discovered how Best-in-Class companies are leading the way toward improving both the internal and external facets of their financial operations.
Breakin’ Up is Hard to Do: Complexities of Separating Data in an ERP Environmenteprentise
Whether you’re separating data because of an upcoming divestiture, or to comply with legal or statutory requirements, or maybe to split different lines of business, you need to understand the relationships among the data to be separated in your Enterprise Resource Planning (ERP) system. This webinar, with eprentise Vice President of Product Solutions Ihtesham Uddin, will explore the impact of separating part of your organization, work through the complexities of separating data either top-down or bottom-up, and identify how to address in-transit activity. The webinar is important whether you are separating the data based on an organization structure such as a legal entity, or if you need to separate at a lower-level such as a product line.
Learning Objectives: After completion of this program you will be able to:
Objective 1: Understand how data for multiple organizations reside in a single ERP environment.
Objective 2: Understand the complexities involved in separating data for organization(s) in an ERP environment.
Objective 3: Achieve success in separating data for organization(s) to meet business objectives.
Complexities of Separating Data in an ERP Environmenteprentise
In an Enterprise Resource Planning (ERP) environment, multiple organizations can exist within a single instance. How does the data belonging to these organizations co-exist, and what are the challenges that companies face when they have to separate the data based on business reasons? With a focus on Oracle E-Business Suite (EBS), our speaker Chief Technology Officer of eprentise and Managing Director of eprentise India, Anil Kukreja will explore the best ways to address complexities in ERP environments to achieve success when separating data in this session.
Learning Objectives: After completion of this program you will be able to:
• Objective 1: Understand how data for multiple organizations reside in a single ERP environment.
• Objective 2: Understand the complexities involved in separating data for organization(s) in an ERP environment.
• Objective 3: Achieve success in separating data for organization(s) to meet business objectives.
[Whitepaper] Aberdeen Research Report: AP Invoice Management in a Networked E...Anybill
The Aberdeen Group just released their newest research report, "AP Invoice Management in a Networked Economy." The report discovered how Best-in-Class companies are leading the way toward improving both the internal and external facets of their financial operations.
Breakin’ Up is Hard to Do: Complexities of Separating Data in an ERP Environmenteprentise
Whether you’re separating data because of an upcoming divestiture, or to comply with legal or statutory requirements, or maybe to split different lines of business, you need to understand the relationships among the data to be separated in your Enterprise Resource Planning (ERP) system. This webinar, with eprentise Vice President of Product Solutions Ihtesham Uddin, will explore the impact of separating part of your organization, work through the complexities of separating data either top-down or bottom-up, and identify how to address in-transit activity. The webinar is important whether you are separating the data based on an organization structure such as a legal entity, or if you need to separate at a lower-level such as a product line.
Learning Objectives: After completion of this program you will be able to:
Objective 1: Understand how data for multiple organizations reside in a single ERP environment.
Objective 2: Understand the complexities involved in separating data for organization(s) in an ERP environment.
Objective 3: Achieve success in separating data for organization(s) to meet business objectives.
Madness, Mergers, Acquisitions, and DivestituresFindWhitePapers
Human beings take risks. In business, one of the riskiest moves company stakeholders can take is to acquire and merge with another company or to divest part of what they have. Despite the best initial intentions, fully half of all mergers, acquisitions, and divestitures fail. Whether your objective is acquiring new markets, realizing cost synergies, or obtaining new technologies, beware of the dangers, know what to anticipate, and, above all, be prepared. Enable a common path to success. Discover how you can keep your sanity and avoid the maddening side of mergers, acquisitions, and divestitures - for free.
Maximize a 24 X 7 Shared Services Global Operation With Oracle E-Business Suiteeprentise
How can you keep Oracle® E-Business Suite Release 12 running around the globe while minimizing downtime and consolidating operations? This session reviews the technical mechanics and functional business processes required to effectively operate a world-wide enterprise on a single, global instance and some of the challenges in migrating to a shared services model from different cultures, technologies and processes.
Going From Public to Private - The Oracle E-Business Suite Challengeseprentise
Companies going from public to private aim to continue operations with minimal disruption, but because the transfer of ownership is still considered a purchase transaction under US GAAP, there are challenges that must be tackled within Oracle E-Business Suite. This session explores case studies of companies that efficiently met their EBS needs for post-privatization, including undergoing calendar changes to address short tax year accounting and revaluing fixed assets to reflect the date of acquisition, all without impacting day-to-day operations.
Secondary Ledgers: The Benefits of Adjustment Ledgers for GAAP Reporting and ...eprentise
Preparing adjusting entries usually involves a lot of journal entries, staff input and tedious work. Not anymore. As a more efficient processing of adjustments, adjustment-only secondary ledgers reflect only adjustments without affecting your primary ledger, allowing entries to be made discretely. Explore the benefits of using adjustment ledgers, complete with a step-by-step setup guide.
The Search for the Single Source of Truth - Eliminating a Multi-Instance Envi...eprentise
Changes in financial reporting requirements have transformed the fixed asset accounting framework. International Financial Reporting Standards (IFRS) require fixed assets to be recorded at cost, but there are two accounting models – the cost model and the revaluation model. So what’s the difference, and when should you use each? This session will address fixed asset accounting and reporting under both models and how each is accounted for in Release 12.
FinancialForce Billing Case Study: Seagate - enterprise bizPolina Polishchuk
Seagate's billing process now fully automated: once activity closes, system automates an invoice, tracks cash payment status, and records it into the master ledger. They now have more time to focus on their customer service.
Secondary Ledgers - The Power of Adjustment Ledgers for Reporting and Complianceeprentise
Preparing adjusting entries involves a lot of journal entries, staff input and tedious work. Not anymore. One of the exciting features in Oracle E-Business Suite Release 12 is the introduction of adjustments-only secondary ledgers. As a more efficient processing of adjustments, adjustment ledgers reflect only adjustments without affecting your primary ledger, allowing entries to be made discretely. Explore the benefits of using adjustment ledgers, complete with a step-by-step setup guide.
Deloitte SAP Finance Transformation AcceleratorJan Bultinck
Finance transformation is a double-edged sword. On one hand,
it can have a significant positive impact on business results.
But it can also require a considerable commitment of key talent
and resources for an extended period of time. That’s why no
organization takes finance transformation initiatives lightly. It’s
important to get them right
Accounts payable and Best Practice Principles Automation - Sydney 2016Alexandra Khalifa
The accounts payable function has risen to prominence in recent years as a back-office after-thought that can be transformed into a useful cash management mechanism. However, recent researches have found that the majority of enterprises are still employing manual methods of invoice-processing, which has inflated both processing costs and cycle times.
How can I reduce invoice-processing costs & time? What is really new in “scanning supplier invoices”? How can accounts payable personnel work more efficiently?
If you have not found the right answer to all these questions, download the Xcellerate IT's Executive Lunch Powerpoint presentation from March 2016 to learn best practice principles within Accounts Payable and learn how some of the major organisations in Australia have already cut invoice-processing costs and time by over 90%.
Featuring Case Study from Victoria University
Automating Account Reconciliation to Mitigate Compliance RiskProformative, Inc.
Video/Presentation: http://www.proformative.com/events/automating-account-reconciliation-mitigate-compliance-risk
The role of Accounting and Finance Professionals is ever evolving. Demands are increasing; regulations are even more stringent; and areas of focus are expanding. All of these make it more challenging for companies to efficiently close their books while ensuring they have balance sheet integrity. The account reconciliation process is an under-appreciated, yet critical, control which helps ensure financial integrity. By leveraging technology, a company can automate its reconciliations and link accounts across different standards to minimize the amount of manual labor required and ultimately the risk of errors. This session is designed to inform finance and accounting leaders of how account reconciliation process optimization can create a foundation for streamlining the overall financial close process and more importantly, ensuring appropriate controls are in place for greater accuracy in the numbers.
Speakers:
Susan Parcells, CPA, Director, Finance Transformation, Blackline Systems
Wendy Shapiro, CPA, Senior Director, Corporate Accounting, Atlas Air Worldwide
Presentation delivered at CFO Dimensions 2013 - http://www.cfodimensions.com
Track: Finance Technology | Session: 5
Are Your Account Reconciliations in Good Shape?Justin Johnson
This presentation demonstrates how finance, accounting, audit and compliance executives can further ensure the integrity of their balance sheets—and ultimately financial reports—by implementing software to automate the traditionally manual, labor-intensive and spreadsheet-driven account reconciliation process.
Madness, Mergers, Acquisitions, and DivestituresFindWhitePapers
Human beings take risks. In business, one of the riskiest moves company stakeholders can take is to acquire and merge with another company or to divest part of what they have. Despite the best initial intentions, fully half of all mergers, acquisitions, and divestitures fail. Whether your objective is acquiring new markets, realizing cost synergies, or obtaining new technologies, beware of the dangers, know what to anticipate, and, above all, be prepared. Enable a common path to success. Discover how you can keep your sanity and avoid the maddening side of mergers, acquisitions, and divestitures - for free.
Maximize a 24 X 7 Shared Services Global Operation With Oracle E-Business Suiteeprentise
How can you keep Oracle® E-Business Suite Release 12 running around the globe while minimizing downtime and consolidating operations? This session reviews the technical mechanics and functional business processes required to effectively operate a world-wide enterprise on a single, global instance and some of the challenges in migrating to a shared services model from different cultures, technologies and processes.
Going From Public to Private - The Oracle E-Business Suite Challengeseprentise
Companies going from public to private aim to continue operations with minimal disruption, but because the transfer of ownership is still considered a purchase transaction under US GAAP, there are challenges that must be tackled within Oracle E-Business Suite. This session explores case studies of companies that efficiently met their EBS needs for post-privatization, including undergoing calendar changes to address short tax year accounting and revaluing fixed assets to reflect the date of acquisition, all without impacting day-to-day operations.
Secondary Ledgers: The Benefits of Adjustment Ledgers for GAAP Reporting and ...eprentise
Preparing adjusting entries usually involves a lot of journal entries, staff input and tedious work. Not anymore. As a more efficient processing of adjustments, adjustment-only secondary ledgers reflect only adjustments without affecting your primary ledger, allowing entries to be made discretely. Explore the benefits of using adjustment ledgers, complete with a step-by-step setup guide.
The Search for the Single Source of Truth - Eliminating a Multi-Instance Envi...eprentise
Changes in financial reporting requirements have transformed the fixed asset accounting framework. International Financial Reporting Standards (IFRS) require fixed assets to be recorded at cost, but there are two accounting models – the cost model and the revaluation model. So what’s the difference, and when should you use each? This session will address fixed asset accounting and reporting under both models and how each is accounted for in Release 12.
FinancialForce Billing Case Study: Seagate - enterprise bizPolina Polishchuk
Seagate's billing process now fully automated: once activity closes, system automates an invoice, tracks cash payment status, and records it into the master ledger. They now have more time to focus on their customer service.
Secondary Ledgers - The Power of Adjustment Ledgers for Reporting and Complianceeprentise
Preparing adjusting entries involves a lot of journal entries, staff input and tedious work. Not anymore. One of the exciting features in Oracle E-Business Suite Release 12 is the introduction of adjustments-only secondary ledgers. As a more efficient processing of adjustments, adjustment ledgers reflect only adjustments without affecting your primary ledger, allowing entries to be made discretely. Explore the benefits of using adjustment ledgers, complete with a step-by-step setup guide.
Deloitte SAP Finance Transformation AcceleratorJan Bultinck
Finance transformation is a double-edged sword. On one hand,
it can have a significant positive impact on business results.
But it can also require a considerable commitment of key talent
and resources for an extended period of time. That’s why no
organization takes finance transformation initiatives lightly. It’s
important to get them right
Accounts payable and Best Practice Principles Automation - Sydney 2016Alexandra Khalifa
The accounts payable function has risen to prominence in recent years as a back-office after-thought that can be transformed into a useful cash management mechanism. However, recent researches have found that the majority of enterprises are still employing manual methods of invoice-processing, which has inflated both processing costs and cycle times.
How can I reduce invoice-processing costs & time? What is really new in “scanning supplier invoices”? How can accounts payable personnel work more efficiently?
If you have not found the right answer to all these questions, download the Xcellerate IT's Executive Lunch Powerpoint presentation from March 2016 to learn best practice principles within Accounts Payable and learn how some of the major organisations in Australia have already cut invoice-processing costs and time by over 90%.
Featuring Case Study from Victoria University
Automating Account Reconciliation to Mitigate Compliance RiskProformative, Inc.
Video/Presentation: http://www.proformative.com/events/automating-account-reconciliation-mitigate-compliance-risk
The role of Accounting and Finance Professionals is ever evolving. Demands are increasing; regulations are even more stringent; and areas of focus are expanding. All of these make it more challenging for companies to efficiently close their books while ensuring they have balance sheet integrity. The account reconciliation process is an under-appreciated, yet critical, control which helps ensure financial integrity. By leveraging technology, a company can automate its reconciliations and link accounts across different standards to minimize the amount of manual labor required and ultimately the risk of errors. This session is designed to inform finance and accounting leaders of how account reconciliation process optimization can create a foundation for streamlining the overall financial close process and more importantly, ensuring appropriate controls are in place for greater accuracy in the numbers.
Speakers:
Susan Parcells, CPA, Director, Finance Transformation, Blackline Systems
Wendy Shapiro, CPA, Senior Director, Corporate Accounting, Atlas Air Worldwide
Presentation delivered at CFO Dimensions 2013 - http://www.cfodimensions.com
Track: Finance Technology | Session: 5
Are Your Account Reconciliations in Good Shape?Justin Johnson
This presentation demonstrates how finance, accounting, audit and compliance executives can further ensure the integrity of their balance sheets—and ultimately financial reports—by implementing software to automate the traditionally manual, labor-intensive and spreadsheet-driven account reconciliation process.
CNA’s Journey to Workday Accounting CenterWorkday, Inc.
Learn about CNA’s journey to transform its high-volume accounting journal entries with the help of Workday Accounting Center.
This slide deck explores why CNA selected Workday, the process of going live on Workday Accounting Center, and the value CNA has gained.
Your Digital Finance Transformation JourneyWorkday, Inc.
When it comes to navigating digital transformation within finance, no two organizations or industries are alike.
View this slide deck to learn how Workday and Deloitte are partnering to provide customers across industries with a perfect path forward, and can help you set a clear strategy for your journey.
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Many firms are working to accelerate and improve the daily financial close, but are far from ready. By formalizing the F&A value chain, modernizing and strengthening their F&A platform, assessing and optimizing existing service models and heightening overall F&A governance, companies can achieve this goal, supported by a set of success factors for measuring progress and aligning transformation activities.
The winning blueprint for an efficient and effective finance & accounting...Personiv
The backbone of any business is its accounting team. It guides today’s business leaders to make their most crucial decisions. But running an efficient accounting team can be tough when faced with out-of-date systems, transactional processes, and scarce talent. Find out how to turn your F&A function into a competitive differentiator with our white paper.
The use of a Business Case design is beneficial to present a business case before beginning any project. Because it assists partners and other stakeholders in understanding the benefits of investing. Not only that, but it also provides a business executive summary for a certain project. For example, what will be accomplished, which technique will be beneficial, and how many resources will be required? Furthermore, this information-based document allows project managers to provide the facts and numbers in terms of the benefits and drawbacks of undertaking a given business project.
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A recent explosion of data and rapidly evolving tools and techniques for managing it have made it difficult to turn data into value.
View this deck to hear how Deloitte and Workday are helping organizations get a handle on their data, deploying automated, analytics-based planning models, streamlining finance operations, and becoming truly decision ready.
Modernizing Your Finance Team With TechnologyWorkiva
This slideshow explores what modern finance is and what it takes to get your team there. To find out more, visit workiva.com/solutions/financial-reporting
Closing Complexity and Integration GapsDean Sorensen
Research estimates the cost of complexity at up to five percent of sales for global organizations. What’s more, most executives view internal complexities as a key barrier to growth – one that needs to be better managed. By extension, complexity management is a challenge that’s becoming of similar importance to Finance executives – especially those in treasury and financial planning and analysis (FP&A) roles.
One major obstacle stands in the way of more effective complexity management: the processes and structures that organizations use to plan, manage and govern their business. More specifically, immature and outdated ones that obscure risk, rein-force functional silos, suboptimize resource allocation and impede change. The underlying problem: inadequate integration
SYSPHERA for MicroStrategy Financial Consolidation v.28JAN2014 - enAntonio Dutra Jr.
SYSPHERA fully integrates its solution with the MicroStrategy BI platform in a transparent way for the end-users. This complements and extends the capability of the BI MicroStrategy Platform, providing business users appropriate administration of their Planning, Budgeting, Forecasting & Consolidation processes, allowing the creation of scenarios and simulations. The fact that the consolidation is usually done manually with the use of Excel makes it difficult to reflect changes in organizational structure without a huge workload.The acquisitions, as well as the management of rounded and distributed in various places in the financial documents, often represents a major nuisance when reviewing the consistency of the figures. The ability to get a consolidated view of businesses from the standpoint of BI + CPM, allows customers to analyze critical information, considering the performance achieved and the various options for future scenarios and their impacts on the balance sheet, income statement and cash flow in order to find a strong base for the decision making process.
PeopleSoft Optimization for Higher EducationArvind Rajan
Cut expenses, not services. Astute Business Solutions has scores of optimization and services offerings including:
• Expense Control automation
• General Ledger Optimization
• Customer 2 Cloud in less than 12 months
• Cloud Planning, Budgeting,& Consolidation
• Test Automation incl. regression and compliance tests
• Data Archive WorkCenter and Dashboard
FasTest - Test Automation Solutions for PeopleSoftArvind Rajan
Test Automation, acceleration and management for PeopleSoft Financials and Supply Chain, Human Capital Management, Enterprise Learning Management, Campus Solutions, Portals and CRM
Accelerate and Automate PeopleSoft 9.2/9.1 Testing with PeopleSoft Test Frame...Arvind Rajan
Learn how to use basic and advanced features of PeopleSoft Test Framework on 9.2/9.1 and on PeopleTools 8.53. See a live demo of PeopleSoft Test Framework. Learn how to accelerate your testing using Astute's FasTest library containing over 1000 test scripts that can plug-and-play in your system.
PeopleSoft 9.2 Upgrade Readiness Assessment and Health Check Arvind Rajan
Don't Just Upgrade - TRANSFORM! Learn how to make the most of out OOTB PeopleSoft 9.2 features, Accelerate and Automate Testing using PTF, Automate via Workflow, Optimize Business Processes, Reduce Change Management Costs, Switch from Crystal to BI Publisher reports, Accelerate with a 4-week Lab Upgrade, Accelerate with a 90-day PeopleSoft 9.2 Upgrade, Use Astute's 9.2 Sandbox to accelerate Fit-Gap
Astute Case Study - PeopleSoft Financials Integration for Hospitality CompanyArvind Rajan
Multinational hotel chain wants
to deploy new Financial
Management system across its
various properties – while
retaining existing third-party
financial systems for some
smaller properties
Astute Case Study - Implementation for Middle-East University Arvind Rajan
Start-up private liberal arts
college in Kuwait needed
to modernize its student
administration system
• Culture-specific
customizations – the first of
its kind in the Middle East
Region – successfully
implemented.
Astute Business Solutions - Fast Track Impact Analysis for PeopleSoft 9.2 Upg...
Case study optimizing_the_general_ledger
1. Optimizing the General Ledger
A Study in Meeting both Management Reporting & Statutory Requirements with Minimal Change
By John Ferren, Director of Strategy & Business Consulting
Introduction
As small companies mature into near mid-
market or mid-market firms, Controllers
and CFOs of those firms find themselves
needing to provide more sophisticated
financial information to their peers to
develop further business growth. This need
hardly ever occurs as a singular event, but
rather as a progression over time.
Most firms at the same time face the transition from a ledger that was adequately sized to handle the
volume and detail required to manage and maintain linear growth of the business. But as the
business grows in complexity, variety, and volume, so does the information contained in the General
Ledger. It is at this point accounting directors and corporate controllers find themselves at a
crossroads. One that drives them to several decisions:
• Thin vs. Thick Ledger
• How to best meet both management and statutory reporting requirements
• Whether there is a need to implement a financial data warehouse
These are but a few of the decisions required. Nonetheless they represent a few of the most
common arrival points that need to be agreed upon by senior Finance leadership.
Problem Description
The client was struggling to initially even articulate the problem they were trying to solve. However,
after brief initial discussions it became clear that the individual business lacked insight into their
current financial position and that management was not getting an accurate, point in time, view of
overall business performance. The symptoms of the problem which were clear and present:
• No effective way to translate currency of entries other than the use of a cumbersome, manual
month end close process
• No way differentiate entries from detail ledger needs [statutory/local GAAP] and management
ledger needs [Leadership and External Reporting]
Now, the above bullet points really illustrate the problems that would be solved at a macro or
management level. There were several lower level issues which first needed to be re-mediated:
• No formal inter-company billing/receivables mechanism.
o No capability to break out due to/due from by business unit; it was all rolled up into a
single general ledger account
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2. o No formal way to trigger journal entries or cash movement for accurate point in time
state of financials in the individual business unites
• No point in time currency conversion. Entries were not being translated within the
ledger. Also, there was no formal way to track currency gain/loss.
Generally speaking, the environment is one of many manual journal entries, reconciliations, and reporting.
While comfortable and manageable for a period of time, a firm expecting near 100% growth cannot main-tain
a world-class operation in that manner. At the end of each month, inter-company due to/due from was settled,
currency conversions and valuations occurred and management adjustments booked; all manually.
Solutions Options
There were a few guiding principles as the following options were evaluated.
• Maintain a thin ledger
• Do not consider an enterprise performance management reporting solution as viable currently
• Keep the solution as tactical and isolated as possible
There was interesting discussion to be had in attempting to avoid the introduction of new data elements in
the ledger and not expanding the number of accounts used in the existing chart. Something would have to
give, and the result was the addition of new accounts to handle inter-company due to and due from in
addition to improved mechanisms for handling top of the house adjustments.
Thick Vs. Thin Ledger
When keeping the business contained and limited, a case can certainly be made to consider a thick
ledger. However, in this case, there was significant growth on the horizon in addition to having only
limited clarity on what senior leadership would define as key performance metrics. Those conditions
should be considered limiting when attempting justify a change to the core structure of the general
ledger. The truth being, with so many manual processes in play there were several operational
efficiencies to be exploited that could take the burden off of the Controller’s office.
Enterprise Reporting Solution
At a point in time, even with the most straightforward of reporting metrics, sheer volume will
eventually demand a more robust solution to reporting than the general ledger environment alone.
Forces Driving Reporting Away from Ledger
General Ledger
• Rapid increase in journal volume
• Increased metric complexity
• Non-ledger elements now required for
enterprise reporting
• Expansion of product/offering base either
organically or via acquisition
www.beastute.com
3. Further, the company was going to maintain a concentrated product and services suite. If you recall
to earlier, the problems that were being solved for here were limited to Corporate Finance. This
unique problem set lends itself to a solution within Corporate Finance.
Solution Overview
The enablement of the future state environment went such as:
1. Enable the ERP Billing module to operate alongside the existing Accounts Receivable and
Payables module that were already employed by the enterprise. Configure this module
to to handle the inter company business load that is manually handled today.
2. Configure Book Codes. Entries served two very different purposes in this environment.
Both the Finance operation and the individual business units had very different needs
for the financial detail to serve when compared with the duty it was to fulfill for
management reporting. Summarization entries needed to exist for management
reporting and there was detail that needed to be retained in the local ledger.
3. Configure Translation and Translation Steps. This entire process had been the respon-
sibility of the distributed Finance function or manually effort at period close. By
implementing native, delivered, and vanilla ERP functionality the client was able to:
a. Automate a manual process and gain period-end close efficiency
b. Reduce the financial risk of not translating translations point in time
c. Enable the capability to translate equity transactions historically where require.
Conclusion
This study is an example of Finance Optimization delivered with an impact to only the Finance
organization. Surely, in time this new local business architecture will shape interface design and the
interaction with Finance going forward. Regardless, the new business architecture is far more
sustainable than the former, manual, risk-laden environment that existed prior. A process of
distilling and articulating problems must be undertaken. Without a clear understand of the problem
or sub-problems that need to be addressed, organizations run the risk of admiring problems
because they are perceived as more complex than they are in actuality.
Without the inclusion of inter-company billing automatically through the delivered ERP functionality, the
solution would still have met the requirements as a solution to the outlined problem. However, there is real
value to striking while the iron is hot: meaning Management is ENGAGED and supportive, Resources are
avail-able from both IT and the business to execute, and the enterprise environment is Ready for change.
About Astute Business Solutions
Astute is dedicated to providing innovative solutions that address our clients’ unique and industry-
specific pain points. We specialize in extending the out-of-the-box functionality of enterprise applications
using our seamless add-on solutions so our clients can be spared the burden of messy and difficult-to-
maintain customizations. Our unique combination of on-site, off-site and offshore resources enable us
to provide the best-in-class service and support to our clients at a significant cost reduction.
Astute’s PeopleSoft practitioners excel in delivering value-based solutions for PeopleSoft by helping our cus-
tomers get the maximum out of their PeopleSoft investments. Our Quick Win Assessments focus on unlocking
value in your current implementation version by recommending OOTB features to improve operational
efficiencies or solve business problems while our Health Check Assessments help clients analyze their current
needs and lay the road-map and plan for their 9.2 upgrade or re-implementation projects.
www.beastute.com