August 19th, 2019
Thank you for your interest in, “Key Considerations for Optimizing your ERP Investment.”
This White Paper focuses on critical considerations for your organization to consider to determine the future of your ERP investments. Whether you are looking to upgrade, re-implement, or migrate to a new system entirely, this paper will offer key insights for ERP maximum utilization based upon Elire’s successful 14 year history and proven
August 1st, 2019
Elire is busy preparing for Oracle Openworld 2019! We’re sending 13 members of the Elire Team to gain industry insights, attend sessions, present best practices, and engage with attendees at booth #304. OpenWorld takes place September 16th-19th, 2019 at Moscone Center in San Francisco, California. Oracle OpenWorld is the industry’s largest business and technology conference for Oracle Users.
Each year for the past two decades, OpenWorld has hosted tens of thousands of attendees at the San Francisco conference, in addition to millions of online attendees. This conference offers an opportunity for Cloud users to learn how to leverage their Cloud investment for innovation and growth of their businesses. OpenWorld explores industry trends and breakthroughs driven by technology. At OpenWorld, attendees are offered the opportunity to participate in over 2,200 educational sessions hosted by more than 2,000 partners and customers.
Without further ado, here are 5 reasons to attend Oracle OpenWorld 2019!
We hope to connect with you at OpenWorld in booth #304. For further information about Elire’s presence at Oracle OpenWorld 19 or to connect with a member of the Elire team with questions regarding our services, email [email protected].
Read Full StoryJuly 30th, 2019
Elire has partnered with Stifel, Nicolaus & Company, a full-service brokerage and investment banking firm established in 1890, to complete a global electronic payments implementation. Elire initially implemented global ISO 20022 formatted payments for Oracle Cash Management that included ACH, BACS, Wire, and SEPA.
The initial project scope included integrating Stifel with BOFA globally to process bank reporting and electronic payments formats. As the project began, Elire ran into many challenges. All existing supplier setup, base configuration, workflow and reports weren’t built during the original implementation in such a way to support the electronic payments.
The Elire team remapped their existing suppliers to better utilize the supplier/sites relationship converting this process to a global Stifel initiative, established tailored payment approval workflows, built a series of validation reports to confirm supplier setup, updated bank configuration, built audit reports, and reconfigured the base AP configuration.
This project served as a pilot project for Stifel to establish KPI’s and other value propositions for implementing global electronic payments in Oracle Cloud in other markets and geographies. The implementation has aligned Stifel with industry best practices of remitting electronic payments, saving time and money by no longer manually producing and reconciling payments out of multiple bank portals and other systems. Elire’s process of building an electronic payments project roadmap and implementation path furthered the client relationship with Stifel and encouraged collaboration on future projects.
For more information on Elire’s Cloud Treasury Services, visit here.
Read Full StoryMarch 6th, 2019
Most companies are doing a better job of managing their working capital.
That’s according to The Hackett Group’s 2018 U.S. Working Capital Survey based on a review of the annual financial statements of the 1,000 largest non-financial companies in the United States.
The average Cash Conversion Cycle (CCC) of U.S. businesses – a measure that uses a company’s payables, receivables and inventory to determine its ability to convert invested resources into cash – improved by 4 percent in 2017 compared to the previous year, The Hackett Group found.
Companies also extended their Days Payable Outstanding (DPO) in 2017 – taking 3.4 days longer on average to pay their suppliers compared to the previous year, per The Hackett Group. Extending the average amount of time to pay suppliers enables businesses to free up cash that can be used to pay down corporate debt, invest in research and development and support other growth initiatives.
But not all companies are cashing in on stronger working capital performance.
The gap between top performing companies and their also-ran peers is growing, The Hackett Group found, indicating that many companies could be doing a better job at managing their working capital.
If your company’s working capital performance is lacking, accounts payable automation may be the answer. Automating accounts payable processes improves working capital in three powerful ways:
Each of these benefits contributes to better working capital performance.
Together, they are the beginning of a tantalizing business case for accounts payable automation.
Rising interest rates and record levels of mergers and acquisitions will force more companies to take a hard look at how they manage their cash. Automating accounts payable is one way that companies can improve their working capital performance in 2019.
If your company wants to better manage its working capital, contact us to learn more about AP Automation and key ERP features you can leverage to bring even greater value to your organization.
This guest post is brought to you by our Partner Canon Information & Imaging Solutions. Ready to take action? Download Canon’s latest white paper “10 Proven Steps to Accounts Payable Automation Success” to arm your team with a clear path to success. A
This guest post is brought to you by Elire’s Partner Canon Information & Imaging Solutions. Interested in learning more? Download the CIIS white paper “10 Proven Steps to Accounts Payable Automation Success.”
Elire was recently named the Partner of the Year with Canon Information & Imaging Solutions for 2018. Elire and Canon have partnered to successfully deliver the AP Automation Solution from Canon to Elire’s PeopleSoft and E-Business Suite Customers, as well as develop the future of OCR technology to streamline and automate day-to-day business processes for AP Users.
About Canon Information and Imaging Solutions, Inc.
Canon Information and Imaging Solutions, Inc. (CIIS), a wholly owned subsidiary of Canon U.S.A., Inc., brings together Canon’s world-class imaging technologies and information management expertise to assist organizations in achieving their digital transformation objectives. With a focus on innovation, CIIS’s software development and solutions delivery capabilities scale across several practice areas: Business Process Automation – including Procure-to-Pay & Order-to-Cash automation, Document Solutions, Information Management Services with a focus on content capture, management and collaboration, and Security and Infrastructure Management. With expertise in emerging technologies such as artificial intelligence, machine learning, and big data analytics, CIIS deploys its solutions in partnership with leading technology providers and offers comprehensive consulting and professional services that are trusted by organizations of all sizes. Additional information about the company, its programs and mission can be found at ciis.canon.com.
Read Full StoryJanuary 24th, 2019
Oracle hosted an Oracle Partner Network (OPN) webcast yesterday with some exciting updates to Oracle Cloud ERP and EPM.
Market Highlights include:
Industry Trends & Challenges you should know:
Oracle Cloud ERP Benefits:
Want an introduction to Oracle Cloud ERP? Join our next webinar, “Streamline & Simplify: An Intro to Oracle Cloud Financials” on February 19th. Register Here.
Read Full StoryDecember 11th, 2018
PeopleSoft Update Manager (PUM) Image 30 for FSCM was released and includes a large array of new features, including enhancements to Procurement Contracts, Credit to Cash Global Search, the addition of UPN types to Procurement and Payables Tables and Components, multiple updates to Grants, and enhanced visibility for Fluid Expense Approvers.
To view all of the highlights from FSCM Image 30, view the video below from the Oracle PeopleSoft Youtube Channel.
For a comprehensive overview of all fixes and functionality in Image 30, view the Cumulative Feature Overview tool.
Read Full StoryDecember 10th, 2018
If it feels like it is getting harder to manage your finance organization’s fraud and compliance risks, you are not imagining things. The finance department is a target-rich environment for crooks:
All told, 75 percent of global senior executives surveyed by Kroll say their organization has experienced some type of fraud, whether it’s insider fraud or supplier fraud. Each year, corporate America loses the equivalent of 5 percent of its total revenues due to fraud, studies show.
Making matters worse, businesses must contend with an ever-increasing regulatory burden and the risk of financial penalties, loss of business, reputation damage, and more. For starters, there are dozens of lists of parties that either a buyer cannot do business with, or that have specific restrictions on how a buyer can do business with them.
Having a state-of-the-art ERP application like PeopleSoft isn’t enough to manage these risks. Businesses must rethink the other systems and processes such as accounts payable that feed their ERP.
Regardless of your ERP application, manual and semi-automated accounts payable processes leave finance organizations extremely vulnerable to fraud and compliance issues in several ways:
Importantly, organizations that rely on manual and semi-automated accounts payable processes don’t have the real-time visibility into their financial data to tightly control their risks:
That’s why 24 percent of all fraud cases are the result of billing schemes that could be prevented or detected by sound vendor master database controls and other reporting and visibility measures, per the Association of Certified Fraud Examiners. And that’s why audits induce feelings of nausea.
Finance executives have had enough. Eighty percent of finance executives tell Accenture that they are “concerned” or “very concerned” about their organization’s compliance and security risks.
For their part, 9 percent of accounts payable leaders identify security and compliance as their top improvement priority, per the Institute of Finance and Management (IOFM).
This is where accounts payable automation comes in.
Combining an automated accounts payable solution with your PeopleSoft application enables organizations to mitigate fraud and compliance risks. Here are three ways how:
Fifty-five percent of finance organizations are investing in digital solutions to mitigate fraud and compliance risks, Accenture reports. Accounts payable automation should be part of this plan.
The control provided by the combination of PeopleSoft and an automated invoice processing solution, such as the one from Canon Information and Imaging Solutions (CIIS), gives businesses an upper-hand against fraudulent activities. By pairing continued investment in your PeopleSoft application and implementing integrated user enablement tools, you empower business users and IT to gain control of financial operations while creating the visibility required by management.
This guest post is brought to you by our Partner Canon Information & Imaging Solutions. Interested in learning more? Download the CIIS white paper “3 Ways Accounts Payable Automation Mitigates Fraud”.
Elire was recently named the Partner of the Year with Canon Information & Imaging Solutions for 2018. Elire and Canon have partnered to successfully deliver the AP Automation Solution from Canon to Elire’s PeopleSoft and E-Business Suite Customers, as well as develop the future of OCR technology to streamline and automate day-to-day business processes for AP Users.
About Canon Information and Imaging Solutions, Inc.
Canon Information and Imaging Solutions, Inc. (CIIS), a wholly owned subsidiary of Canon U.S.A., Inc., brings together Canon’s world-class imaging technologies and information management expertise to assist organizations in achieving their digital transformation objectives. With a focus on innovation, CIIS’s software development and solutions delivery capabilities scale across several practice areas: Business Process Automation – including Procure-to-Pay & Order-to-Cash automation, Document Solutions, Information Management Services with a focus on content capture, management and collaboration, and Security and Infrastructure Management. With expertise in emerging technologies such as artificial intelligence, machine learning, and big data analytics, CIIS deploys its solutions in partnership with leading technology providers and offers comprehensive consulting and professional services that are trusted by organizations of all sizes. Additional information about the company, its programs and mission can be found at ciis.canon.com.
Read Full StoryNovember 28th, 2018
Utilizing Fluid UI, Payroll WorkCenters for PeopleSoft HCM have been redesigned! Payroll employees can now complete all daily payroll processing tasks from one central area with WorkCenters created by system administrators utilizing the PeopleSoft Enterprise Components Fluid WorkCenter framework. Learn more with this recent video from PeopleSoft:
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November 7th, 2018
Team Elire packed their bags and set off for an exciting week of networking, knowledge sharing, and Oracle product updates at Oracle OpenWorld from October 22nd-25th. While in San Francisco, the Elire team was able to take advantage of all #OOW18 had to offer – including exciting keynotes, product roadmaps, product demonstrations, customer success stories, and networking with other Oracle Partners and User Group Partners!
With four days of action-packed activities and sessions, there were a LOT of exciting announcements for the future of Oracle’s Cloud and On-Premise solutions. If you missed out, don’t worry – below are the top five takeaways and announcements you need to know!
Stay tuned for more information on individual product keynotes and roadmaps!
Read Full StoryMay 1st, 2018
While the holidays are usually a time of excitement and cheer, for families who have recently lost everything in a fire and individuals healing from injuries in the burn unit it can be difficult. Firefighters for Healing tries to ease that pain and worry with Project Joy, by providing gifts for children in the burn unit, and families who might not have a Christmas without their intervention. The project aims to provide hope and joy to those who have already been through so much. As one of FFFH’s Corporate Partners, Team Elire lent a hand in wrapping up dozens of toys and gifts for families in our community and children in the HCMC Burn Unit.
Team Elire was also invited to ride along to deliver these toys and gifts, as well as participate in the unveiling of the Firefighters for Healing Family Playroom at HCMC. The FFFH team filled the new playroom with toys, games, and medical supplies free to use for families of healing children.
We are so proud to be a part of the Firefighters for Healing Family, and to continue to support the phenomenal work they are doing.
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