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.
As a part of the new FASB and IASB regulations for Lease Accounting, Oracle PeopleSoft has developed a four-phase release of new and updated functionality to consolidate Asset Management and Lease Administration Leases into a single data structure. Lease Administration (formerly Real Estate Management) enables users to manage the entire lease lifecycle from planning and acquisition through lease expiration. Lease payments interface to payables, receivable to billing, and accounting entries to general ledger. In a recent PeopleSoft Talk, Marc Weintraub spoke with Loida Chez, Product Strategy Director for PeopleSoft ALM to detail these phases.
Phase 1 and 2 were a foundation to deliver functionality for leasing guidance
Phase 3 and 4 have new functionality to address debits and credits, as well as consolidate leases into single data structure.
Phase 1 – Image 10 (Foundation)
Extended enterprise wide frameworks to Real Estate Management
Tighter integration with Asset Management
Phase 2 – Image 19 (Foundation)
Real Estate Management extended to allow for leasing of property and equipment, finance and operating
Phase 3 – Image 24 (Lessee Accounting)
Multi-asset leases
Dynamic lease classification at Asset level
More precise data capture of financial terms
Allocation of lease payments
Phase 4 – Image 27 (Migration and Transition)
Introduction of Asset Management’s share product functionality with Lease Administration
Activity Guide – Migrate Asset Management leases to common lease data structure
Transition to new FASB and IASB leasing guide
Shared product functionality is huge, but is not Lease Administration. The following are not included:
Receivables/Lessor Leases
Operating Expenses/CAM
Security Deposits
Clauses
Options & Critical Dats
Site Selection & Acquisition
To utilize share functionality, utilize the following information detailed in the PeopleSoft Lease Accounting overview.
This shared functionality relates to core accounting requirements for payables leases. Shared product functionality does not require a Lease Administration license.
The first step to using the shared product functionality is migrating your AM to the Lease Administration data structure. A new Activity Guide enables you to perform all migration tasks. Select the Asset Management Lease data migration tasks from the left panel. They are divided into three phases – Initial Assessment of AM, Pre-migration Configuration, and Migration Process. Selecting the initial assessment allows you to review current assets. Since AM now shares functionality with LA, you have to configure common components including amendment types, role types, routing codes, and other configurations like Business Units. The tasks in the Pre-Migration section guide you through configuration changes required for migration. Once these are completed you are ready to migrate.
From the migration process section, you’ll migration AM leases to the LA data structure and review leases online after migration.
The activity guide serves as point to complete transition to the new accounting guidance.
Select “Preparing to Transition to the New Standard” to view guidance and with analytics review expected costs of operating leased assets on transition date.
Finally, you’ll update to “Transition to the new standard” to capitalize operating leases, transition leases to new accounting guidance, and transition to the corresponding straight-line schedule.
For more information on how Lease Administration or to speak with our Lease Administration team, email Practice Lead, Carlos Conde, at [email protected].
We connected with Elire Treasury Advisory Services Practice Lead, Cory Bratts, to discuss what obstacles organization’s usually face when tasked with a Transformation to their Treasury Operations or a new Treasury Workstation implementation. Here is what he had to say!
Interested in learning about Elire’s Strategic Treasury Roadmap to avoid these common obstacles? Attend our webinar, “Treasury Transformation: Plotting a Course with Elire’s Treasury Strategic Roadmap” on March 27th.
Providing additional value for long-term and new clients.
Minneapolis, MN March 01, 2018
Trusted Oracle Partner, Elire Inc., is now a certified Oracle Reseller for Oracle PeopleSoft, Cloud HCM, Cloud Financials, Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS) Services. Elire Director of Sales, John D. Scott, states, “Elire is extremely excited about being an approved Oracle Reseller. This is a great opportunity for us to offer a value-add service to our existing customer base, help oracle prospects in their software buying journey, further support Oracle Reps in their sales cycles, and expand our overall Partnership with Oracle.”
Elire Business Development Manager, Geoff Engelhart, adds, “Elire is excited to expand our long-term partnership with Oracle and grow the strategic partnerships we have with our current, and future clients. As an approved Oracle re-seller, we’ll be able to help our clients maximize their IT investments like never before” in regard to Elire’s new capabilities.
During Elire’s 13 years in business, the company has focused on being a Trusted Advisor and Partner to their 200+ clients. Elire’s prominent clientele are revered as leaders across a wide range of industries and verticals. The move to becoming a Reseller further solidifies Elire’s industry-leading position as a “go-to” Oracle Partner, and allows for organizations to have an experienced partner across all their Oracle needs.
Team Elire will be making the trip to beautiful Las Vegas, NV once again for COLLABORATE 18. For those who have not attended, COLLABORATE offers over 1,200 sessions from Oracle customers, development and product leads, and solution partners – including Team Elire! This year we are pleased to announce we will be presenting 11 presentations in both the PeopleSoft and Oracle Cloud product spaces. Elire Subject Matter Experts and Team Members will also be available in the exhibit hall at Booth 730 to answer your questions during all open exhibition hours and events.
Session 108300 – Having Your Cake and Cash Forecasting Tool! Wednesday, April 25 | 2:30 PM – 3:30 PM | Surf B Presenters: Kristen Bentley (Wells Fargo Home Mortgage) and Cory Bratts (Elire)
Now, more than ever, Treasury Departments need the ability to access and analyze date in real-time. An addition to the Oracle Cloud Cash Management Suite – Oracle Smart View is an ad hoc analysis tool that interacts with Oracle Cloud ERP and Essbase cubes. This tool allows organizations to optimize user productivity with features such as Smart Query, Smart Slice, and drill to source functionality. On-demand cube updates through Smart View give users the capability to perform cash forecasts and determine liquidity positions daily. We asked Elire Cloud ERP Consultant, Tony Barbato, why organizations should implement Smart View with their Oracle Cloud Cash Management solution, and what it takes to have a successful implementation. Here’s what he had to say:
Interested in learning more? Attend Tony’s webinar, “Extend Cash Forecasting with Oracle Smart View” on January 16th.
Elire had the distinct pleasure of being a Founding Platinum Sponsor at this years Firefighters for Healing Red Tie Gala. The Gala – including ticket sales, silent auction, and additional games/raffles raised $500,000! Elire Partners and Employees enjoyed the VIP treatment for the evening and contributed not only their time, but silent auction items and dollars for this fantastic cause.
Elire first began work with Firefighters for Healing at the Oracle Direct Charity Golf Tournament and has remained an active partner over the last few years – including previous Red Tie Galas, the annual Christmas Gift Wrap and Drop for the HCMC Burn Unit, and Elire members serving on the Firefighters for Healing Advisory Board.
Proper support of a firm’s business objectives can be achieved through the proactive management of a firm’s global cash position and forecast. Liquidity management is a core treasury function that provides knowledge for minimizing an enterprises operational risk through strategic working capital allocations. To succeed, Treasury requires insight into their functional working capital strategies through the unlocking of bank balances and the mobilization of intercompany cash. We asked Elire Cloud ERP Expert, Logan Wacker, why organizations should implement Oracle Cloud Cash Management to accommodate Treasury’s Forecasting needs, and what it takes to have a successful implementation. Here’s what he had to say:
Interested in learning more? Attend Logan’s webinar!
Team Elire had a fantastic time in San Diego, CA for AFP 2017 last week! AFP is the ultimate networking and educational get together for Financial and Treasury Professionals. Elire setup at Booth #319 for the week to engage with our customers, inform Treasury and Financial professionals of our industry leading Treasury Services, and have some fun!
For copies of our presentation with Marsh & McClennan Services, email [email protected]
The decision to upgrade to PeopleSoft 9.2 or migrate to Oracle Cloud can be overwhelming; how can you be sure that your organization is making the right decision? We asked Elire Strategic Advisory Services Practice Lead, Richard Merrill, what factors should influence your decision and what tips he had to ensure success. Here’s what he had to say:
Interested in learning more? Register for our complimentary webinar, “Strategic Analysis: PeopleSoft 9.2 vs. Oracle Cloud.”
Strategic Analysis: PeopleSoft 9.2 or the Cloud Presenter: Richard Merrill, Elire Tuesday, September 26th | 3:00 PM – 4:00 PM EDT
Elire will provide a deep dive into its 5 step approach to help you decide between a 9.2 Upgrade and Cloud. This will include a review of tools and techniques for each of the 5 steps, including: Mobilization, Disconnect Assessment, Listening Tours, Review and Validation, as well as Analysis and Solutions. The webinar will include practical advice about how best to make the decision using an approach that is designed to build buy-in and support across the organization. Elire will also provide examples of key parameters to use during the Analyze and Solutions steps.
