Elire News

Elire ERP Optimization White Paper

August 19th, 2019

Elire ERP Optimization White Paper

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

Read Full Story
5 Reason to Attend Oracle OpenWorld 2019

August 1st, 2019

5 Reason to Attend Oracle OpenWorld 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! 

  1. Networking: Connect with Oracle partners, expand your contact list and resources, and interact with the over 60,000 OpenWorld attendees. Participate in exciting conference events and meet new people with events such as movie night at Oracle Park, FitFest 19 with boot camp–style options such as yoga such and stair-climbing, ballpark tours, and even a San Francisco Giants vs. Miami Marlins ball game.
  2. Keynote Presentations: Hear from Oracle top executives regarding industry trends, predictions, and insights from the true experts. 
  3. Session Topics: Explore the over 2,200 sessions in areas such as Move to the Cloud, Build in the Cloud, Innovate in the Cloud, Optimize Your Environment, Secure Your Enterprise, and Maximize Your Data and Analytics.
  4. CloudFest.19: To wrap up this year’s conference, CloudFest. 19 is hosting an evening with John Mayer! Experience the dynamic artist and the deep body/wonderland of musical work that has touched millions worldwide. 
  5. Elire’s Presentation: Elire’s Chris Costakes will be co-hosting the session Oracle HCM Cloud: Integration Methodologies at Yum! Brands with Sharon Perkins, Manager, HR Technology, at Yum! Brands. Oracle Cloud SaaS and PaaS offer a myriad of integration choices. In this session learn about the way Yum! Brands integrates with vendors and other internal systems using Oracle SOA Suite Cloud, Oracle Business Intelligence Publisher, REST APIs, ATOM feed, Oracle Visual Builder Cloud, Oracle Java Cloud, and DBaaS. Join this session Monday, September 16, 10:00 AM – 10:45 AM, session code CAS2538.

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 Story
Success Delivered: Stifel UK Global Payments Implementation

July 30th, 2019

Success Delivered: Stifel UK Global Payments Implementation

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 Story
Success at RECONNECT 19

July 24th, 2019

Success at RECONNECT 19

Team Elire is excited to share details of our experience at Quest Oracle Community PeopleSoft RECONNECT 19! Elire looks forward to attending this three day, PeopleSoft-focused conference each year. With over 400+ PeopleSoft users attending each year, this deep-dive conference gives us the opportunity to focus on specific aspects and capabilities of PeopleSoft with an informed audience. We loved seeing so many people come through our booth, where we had many great opportunities to connect with attendees and discuss innovation within the industry. Key topics our team discussed with attendees include Chat Bots (such as the new Absence Management Chat Bot featured in PeopleSoft’s HCM Update Image 31), Work Centers, and Elire’s PTF, Lease Administration, and Application Roadmap services. 

In addition to exhibiting at booth #401, Elire is proud to have hosted dinner at Gibson’s steakhouse. Over 45 members of the Elire community were present, and we valued the opportunity to connect with existing clients, prospects, and our Oracle Partners. 

Elire Team members John D. Scott, Director of Sales, and Managing Consultant Valentin Todorow hosted the respective sessions PeopleSoft Treasury SIG Meeting and the PTF: Integration to ALM, Scheduling, Production Validation, and Pivot Grid Reporting which were very well attended presentations with 20+ people in the audience. 

To get in touch with any inquiries or for a copy of Valentin Todorow’s presentation, please contact [email protected] and we’ll connect you with a member of our team. 

You can find more information regarding our PeopleSoft Test Framework, Lease Administration & Asset Management, and Strategic Roadmap services by exploring these links. 

We also invite you to download our new ERP Optimization Whitepaper, Key Considerations for Optimizing Your ERP Investment.

Read Full Story
13 Key Features of PeopleSoft HCM PUM Image 31

July 23rd, 2019

13 Key Features of PeopleSoft HCM PUM Image 31

Oracle’s PeopleSoft HCM Suite has recently released Image 31. Below we’ll explore these recent enhancements and new functionality, which encompasses 13 useful features:

  1. Absence Management Chat Bot: Using the absence assistance tile, employees can access the Absence Management Chat Bot to perform simple transactions related to absences. 
  2. Employee Self-Termination: Through employee self-service, employees are able to initiate their own resignation or retirement.
  3. HR Business Partners: This tool allows HR managers to track and show HR managers for employees and perform tasks such as salary raises.
  4. Development Documents for Employee Snapshot: Available on the summary and performance review dashboards. Administrators can configure the display to show chosen development documents. 
  5. Fluid Extended Absences Self-Service: A tool which allows employees to create and maintain extended absence requests using fluid. Employees can also review approved extended absence requests.  
  6. Activity Guide Composer Multi User Guide: Allows users to create templates that allow multiple users to complete different steps in a process. 
  7. Enhanced Security for Profile Management: Adds additional security options when setting up the profile type content sections. You can now use PeopleTools roles to allow certain employees certain capabilities. 
  8. Compensation Cycle for Variable Compensation: This enhancement complements the existing functionality that allows the creation of cycles for merit plans only, or merit and variable compensation plans. 
  9. Leave and Compensation Balance: Includes a new tile for leave and compensation time for increased visibility. 
  10. ePerformance Auto-Transfer Document Enhancements: Has added enhancements to the auto-transfer feature which transfers in-progress documents automatically when managers are terminated.
  11. Acknowledgment Framework in Candidate Gateway: You can configure an acknowledgment for candidates after they register. This provides more flexibility within the original consent agreement including audit trails.
  12. Fluid Reported Time Audit: Administrators can easily access employees reported time audit with the newly introduced time and labor tile for easy access. 
  13. Drop Zones for HCM: PeopleSoft HCM continues to expand the footprint of drop zones in its applications. This enables you to add text, links, and other field to pages without impacting future upgrades.

For further information, check out the the above video for step-by-step demonstrations of every one of these 13 features. Need help with PUM image updates? Check out Elire’s Continuous Delivery Services!

 
 
Read Full Story
Elire Delivers Cloud Success for Financial Services Firm

July 17th, 2019

Elire Delivers Cloud Success for Financial Services Firm

Elire recently implemented Cloud General Ledger for a subsidiary of the 5th Largest Bank, headquartered in Minneapolis. The nation’s most active tax credit investor and community development lender. They Provide innovative financing solutions to meet the community and economic development needs of our partners and those they serve.

Top Customer Objectives and Challenges

  • Implement Oracle Cloud General Ledger
  • Reduce the amount of manual work performed
  • Increase Internal Controls and Reduce Risk to Client
  • Reduce the burden of audit cycles, internal and external
  • Improve the Financial Reporting Processes

Success Delivered – Project Results

  • The project went live on December 1st, 2018 with Parallel, full cutover on January 1st, 2019
  • Automated Journal Interface to Corporate saved time in two ways
    • No more paper copies to be passed around and maintained.
    • Automated Entry and workflow speed up the transaction processing time. Any investigation into a specific Journal is as easy as “clicking through”. 
  • Expanded Financial Reporting Capabilities with the Implementation of Oracle Cloud GL, giving more granular transactional detail to support Managerial, Business, Regulatory, Audit, and Tax Reporting Requirements
Read Full Story
Connect with Elire at PeopleSoft RECONNECT

July 2nd, 2019

Connect with Elire at PeopleSoft RECONNECT

Next week, Team Elire will be attending PeopleSoft RECONNECT 19. This PeopleSoft-focused event will take place between July 16th and 18th in Rosemont, Illinois. Gathering over 400+ PeopleSoft users, product experts, and strategy teams, this annual conference presents the opportunity for attendees to network with other users, maximize their PeopleSoft investment, and attend 200+ educational sessions. 

We look forward to participating in this annual deep-dive PeopleSoft conference. Participating in RECONNECT 19 allows Team Elire to engage with users on a more technical level, offering our solutions and expertise while highlighting our relevant services through our booth, lectures, and meetings. 

Elire will once again be hosting our booth and the following sessions:

[101170] PTF: Integration to ALM, Scheduling, Production Validation and Pivot Grid Reporting

  • 9:15 AM – 10:45 AM│Wednesday, July 17th│Narita AB

[100570] PeopleSoft Treasury SIG Meeting

  • 1:30PM – 2:30 PM│Wednesday, July 17th│Heathrow AB

Be sure to add these sessions to your agenda and visit our booth #401. When seated in the audience facing the presenter stage, our booth is located on the corner just to the right of the stage. 

We look forward to seeing you at RECONNECT 19! In the meantime, we invite you to browse our website where you can find information on our PeopleSoft Test Framework (PTF) and PeopleSoft consulting services. Follow the links above to download our informational onesheets. Get in touch with the Elire Team for further information. We can answer any questions you may have and put you in contact with a member of our Team!

Read Full Story
Elire at HIUG Interact 2019

July 2nd, 2019

Elire at HIUG Interact 2019

Team Elire is excited to have attended Interact 2019, the Healthcare Industry User Group (HIUG) conference in Orlando, Florida! This annual conference hosted over 600 attendees and 175+ educational sessions and clinics. HIUG fosters the collaboration of Oracle application users across the healthcare industry, cultivating connections between Oracle Enterprise users and services.

Elire is grateful to have had the opportunity to continue building our relationships with Oracle users, experts, and HIUG board members at our exhibit booth and our Topgolf event. We always enjoy connecting current and prospective clients for interactive networking events. This year’s event was co-sponsored by our partners, Canon Information and Imaging Systems. 

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.

We had multiple attendees inquire about support for Lease Administration/New Accounting standards. Information regarding our solutions and services surrounding these new standards can be found on the Lease Administration and Asset Management page of our website. While visiting our site, be sure and scroll to the bottom of the page and download our informational Onesheet. In addition to the curiosity surrounding options for support for the new Lease Administration/Accounting standards, our Team saw interest from attendees in Continuous Delivery Methodology support and PeopleSoft Test Framework (PTF). 

Thank you to all of those in attendance and we hope to see you at HIUG Interact 2020! Contact our sales team at [email protected] for further information about our range of consulting services.

Read Full Story
PeopleSoft FSCM PUM 31 GASB Updates

April 12th, 2019

PeopleSoft FSCM PUM 31 GASB Updates

Recently, PeopleSoft PUM FSCM Image 31 became available and includes functionality to ensure Government Accounting Standards Board (GASB) compliance as it relates to Lease Accounting.

The GASB issued statement number 87 (GASB 87), is a new accounting standard for lease accounting. The new standard is effective in 2020. GASB 87 is similar to previously released guidance from FASB and IASB with some differences. A key requirement under GASB is to capitalize leases as assets and liabilities on the balance sheet. The operating lease classification no longer exists under GASB. This is similar to guidance under IASB. However, GASB does classify certain leases as ‘Financed Purchases’ which is different from IASB or FASB.

When the business unit reports under GASB, the system classifies assets in the business unit as finance and disregards the criteria for classification of leases used by FASB.  This can be completed by enabling the GASB 87 features using the same installation options used for IASB and FASB.

In addition, GASB 87 requires organizations to classify certain leases as a ‘Financed Purchase.’ The initial measurement of the lease liability and the asset is the same for a financed purchase. The difference is the liability account used for a financed purchase. The liability should be reported using the ‘Financed Purchase’ account rather than the ‘Lease Liability’ account.

The GASB identifies a financed purchase as a lease that:

  • Transfers ownership of the underlying asset to the lessee by the end of the contract and the lease cannot contain termination options.
  • The lease may contain a fiscal funding or cancellation clause as long as it is not reasonably certain of being exercised.

The GASB views this lease as a financed purchase rather than a lease liability, because the lessee is expecting take ownership of the leased asset.

Accounting for financed purchases requires changes to transaction code configuration, the transaction code selected on the asset, and the accounting entry templates.  This is completed by creating a new transaction code for Financed Purchases (FP – Financed Purchase – Fin Purch). When adding a new asset, the checkbox “Transfer of Ownership” will also need to be selected for these instances.

About the Author: Bryan Reynolds is a Consultant in Elire’s Lease Administration Practice, responsible for implementing Oracle’s Lease Accounting Modules.

Read Full Story
Guest Post: 3 Ways AP Automation Improves Working Capital Performance

March 6th, 2019

Guest Post: 3 Ways AP Automation Improves Working Capital Performance

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:

  • Enhanced cash flow analysis and liquidity management: The data generated by an accounts payable department provides a unique window into the financial health of a business. The importance of Financial data continues to grow and be considered a critical corporate asset.
  • With an automated accounts payable solution, CFOs and other financial decision-makers can drill down into cash and spend data to identify trends and patterns, determine how well-positioned a company is to take advantage of early payment discount opportunities, assess budget performance and support strategic decision-making.  The technology provides actionable cash flow insights such as: the status of invoices and payments, on-time payment percentage, spend visibility and trends, spend-to-supplier ratio, and the percentage of early payment discounts captured.  All this enables timelier and more accurate accrual reporting and greater reporting integrity, which supports improved working capital performance.
  • Your ERP is at the center of this data and will become an increasingly vital source for business insights. IT and Finance will not only provide actionable insights to management, but be able to provide improved role based reporting to users by leveraging the latest ERP features.
  • Lower the Cost of Goods Sold (COGS): Most suppliers will exchange discounts on the amount due on an invoice for early payment.  The earlier the payment, the larger the discount that suppliers will offer.  The average discount that suppliers offer for early payment stands at 2 percent.  But many buyers in industries such as pharmaceuticals, biotechnology, consumer packaged goods and high-tech consulting routinely capture early payment discounts of more than 6 percent.  Unfortunately, it takes so long for accounts payable departments that operate in a manual or semi-automated environment to approve invoices that most discounts for early payment are out-of-reach.  Automating accounts payable can reduce invoice approval cycle times by more than 75 percent, opening the door to capturing more early payment discounts.
  • Better DPO: DPO is a key component of strong working capital performance.  One way that automation helps businesses manage DPO is by facilitating supply chain financing: when a buyer pays a supplier early using cash from a third-party, such as a bank, financial institution or investment firm.  As with other approaches to early payment discounts, a buyer and a supplier negotiate discount terms on an approved invoice.  Once the terms of the discount are agreed upon, the third-party assumes the risk and pays the supplier.  When the invoice reaches maturity, the buyer pays the full invoice value to the third-party.  The buyer receives a cut of the discount on the invoice while maintaining DPO and preserving their cash.   Additionally, paying suppliers using certain card programs enables buyers to instantly extend their DPO, without changing their payment terms.  The funding for the payment is provided by the buyer’s bank via the card program.  Since the payback period to the card issuing bank only starts after the payment is initiated, businesses can extend their DPO by several weeks.    

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 Story