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.
Elire was honored to present ten sessions on Oracle Cloud, Lease Administration, Peoplesoft 9.2 Upgrades, AP Automation, PeopleSoft on Oracle Cloud, and Treasury! For a complete list of our sessions, click here.
Aside from Sessions, the Elire team exhibited at Booth #730 to answer questions and connect users with our Subject Matter Experts.
If you missed us at the booth or would like to set up a follow up, contact [email protected]
We look forward to seeing everyone at COLLABORATE 19 in San Antonio, TX!
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)
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:
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].
Mid-March, PeopleSoft Released highly anticipated Image 27 which included the following new functionality and enhancements:
Expanded eProcurement Fluid Requisition Capabilities (0:20) – Define default field values for a requisition and add a one time shipping address for a requisition. Mass Changes allows you to modify multiple requisitions at one time. You can also now view, copy, and print for requisitions
Fluid Purchase Order Acknowledgements (1:41) – PeopleSoft has expanded the comprehensive supplier secure portal feature, including POA functionality, and configurable “My Preferences” page to prioritize and respond to POAs.
Bank Transfer Center in Fluid (3:28) – PeopleSoft added the Bank Transfer tile to the Cash Management Fluid Homepage to update existing bank transfer details and create new bank transfers. You can update details only if the status of the Transfer is “new.” In update mode – BU, Transfer type, and ID type are not editable.
Lease Accounting Phase 4 (5:13) – Lease Accounting Phase Four shares Lease Functionality between Asset Management (AM) and Lease Administration (LA), allowing AM users to use LA functionality delivered in the previous three phases. This functionality address core accounting requirements for Payables leases. A new activity guide is available to perform all tasks for performing the migration. The Guided Migration Process Activity Guide enables you to perform migration tasks necessary for utilizing the new accounting standard, including preparing to Transition to the New Standard, and Transition.
Asset Profile Inactivation (6:25)– Asset Profile is used to add assets to the system with pre-defined depreciation and tax criteria for a specific asset type. With Image 27, PeopleSoft added the status field to the profile definition field. You can mark an asset profile active or inactive. This prevents obsolete assets from populating an asset with incorrect criteria and depreciation values.
Calculating Taxes when Saving Invoice (7:11) – PeopleSoft Billing allows you to calculate taxes from the invoice page without having to navigate to the summary page. The Calculate taxes icon is not available for invoices that have a status of “invoiced” or “final.”
Courtesy Copy of Consolidated Invoices (8:01) – PeopleSoft Billing provides the capability to have courtesy copy addresses on consolidated headers. You can select the copy address link to access the create consolidated addresses page.
Component Keyword Search for Grants and Contracts (8:33) – Image 27 provides new search capabilities for award and contract general components using Elasticsearch, including keyword search across contract and award attributes.
Accounting Tag in General Ledger Journal (9:23) – Accounting Tag, a centralized and standardized accounting definition, is designed for financial products in fluid and classic plus. It is a simplified method to manage and maintain accounting data. With Image 27 – PSFT extends the use of Accounting tags, replacing speed types when enabled, for Online Journal Entry, Budget Journal Entry, and Journal Excel Spreadsheet Upload.
SAM Revised General Services Administration Requirements (10:07) – PeopleSoft expands the system for award management leveraging the new SAM taxpayer Name Field from the inbound interface field. Select the user taxpayer name for alternate withholding on the federal processing options page, this allows PSFT system to update the supplier withholding information if it is different from the legal business name.
Activating Contract and Upgrade Bill Plans en Masse (11:00) – Two new actionable exception reports have been added to “My Work” on the Contracts Work Center, Contracts for Activation, and Invalid Billing Plans, allowing you to take action on an individual update or take actions en masse.
ISO 2022 – Customer Credit Transfer Initiation for Switzerland
So you’re considering or have made the move to the cloud – how do you ensure your reporting needs meet compliance standards and internal requirements? We asked Elire Cloud Consultant, Karen Costakes, what are best practices for effective reporting with Oracle Cloud, and what common obstacles organizations face. Here is what she had to say:
More information on Common Obstacles:
Identifying where data lives in OTBI or BI Publisher can be a challenge. There is not transparency into how data populates the front-end screens, and as such, thorough testing and validation of report results is critical
Understanding security roles necessary to view results in OTBI varies by Subject Area and can take some time to understand and provision. Use Oracle’s “OTBI Subject Area Documentation” to better understand how each specific Subject Area is built and the required security for the subject area
Not all fields a user can see on the front end are available in OTBI Subject Areas. Oracle is continuing to develop Subject Areas, but creating a report in BI Publisher may be the workaround if the field is needed. By opening enhancement request for key fields that are unavailable, users can help make OTBI an even more robust business intelligence tool
Interested in learning more? Register for Karen’s webinar on April 17th here.
ONE event. NUMEROUS takeaways to help drive results for your business all year long! COLLABORATE 18 is the premier, user-led, technology and applications forum for the Oracle community. Produced by three independent user groups, IOUG, OAUG and Quest, COLLABORATE 18 is your event – created by users for users.
• 1,200+ sessions and panels packed with customers sharing their stories, case studies and practical “how-to” content • Community-sourced education led by experts – for everyone, at every stage of their technology journey
• Breaking product news, roadmaps and insider information from Oracle executive management and developers
• Education and training for functional, technical and hybrid users
• Access to hundreds of other customers across industries to build your personal and professional network, including special interest group (SIG) meetings, geographic networking events and receptions
• An Exhibitor Showcase packed with products and solutions providers who can help you solve your specific challenges
• Unique events such as the Women in Technology Forum—connect with key women who are examples of success in a fast-changing environment
Team Elire will be at Booth #730 as well as presenting a variety of sessions on Lease Administration, Oracle Cloud HCM and ERP, 9.2 Upgrades, and MORE!
Ready to access a wealth of information to help you navigate your technology journey? COLLABORATE 18 takes place April 22-26, 2018, at Mandalay Bay Resort & Casino in Las Vegas, Nevada. Select the user group most closely aligned with your interests at www.attendcollaborate.com.
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.
Elire recently completed a five-part webinar series highlighting functionality in Oracle Cloud Cash Management. The webinar series focused on features essential to Treasury Operations – including Bank Reconciliation, Cash Forecasting, and Payments in the Cloud – while also addressing functionality in the cloud to extend and enhance these features, like Oracle Smart View.
For those interested in learning more, we’ve compiled all five webinars into one convenient post. Our experts recommend watching them in order as they build on information from previous webinars.
To set up a demo or request a call with our Cloud Cash Management Team, please contact Elire Cloud Cash Management Practice Lead, Michael Graham, at 612.486.4220 or [email protected].
Oracle Cloud is a seamless, modern, and intuitive tool used by thousands across the country. With the addition of Cash Management in Oracle Cloud, it’s time for your organization to move its Treasury operations into the future. In this first part of Elire’s Oracle Cloud Cash Management Webinar Series, Elire Principal Treasury Consultant and Certified Oracle Cloud ERP Implementation Specialist, Jason McCabe, CTP, provides an overview into Software-as-a-Service, benefits of Oracle’s Cloud Cash Management solution, Cloud Cash Management features, integration with legacy software, and tips for implementation.
In the second part of Elire’s Cloud Cash Management Webinar Series, Elire highlight’s some of the key functionality to be expected with Bank Reconciliation in the Cloud. Elire Treasury Consultant, Tony Barbato, focuses on Importing Bank Statements in the Cloud, Bank Reconciliation Matching Rules, including the One to Many rule, and Addenda Parse. Check out this opportunity to gain valuable insight into the latest Bank Reconciliation functionality and tips for a successful implementation.
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. In this webinar, Elire Managing Consultant, Logan Wacker, explores how leveraging Oracle Cloud provides multi-dimensional analysis that provides deep insight into Treasury’s various liquidity strategies around cash conversion, funding requirements and the management of their strategic investments. Deploying Oracle Cloud as a Treasury work center allows an organization to manage established bank counterparties and their financial markets relationships, to fine tune a global liquidity program.
Oracle’s Cloud Payments interacts with other source products including Cash Management, Payables, Receivables, etc., serving as a funds capture and funds disbursements engine. Cloud Payments acts as a central payment engine for Cash Management by processing Bank Account Transfers and Ad-Hoc payments. It also handles Supplier Invoice payment for Cloud Payables and manages customer refunds, among others. This webinar dives into how Cloud Payments can help your company efficiently centralize the payment process by securely transmitting your disbursement transactions to your financial institutions and providing cash managers with visibility into cash inflows and outflows.
The ability to access and analyze data in real-time is essential to the modern Treasury Department. Smart View is an ad hoc analysis tool that interacts with Oracle Cloud ERP and Essbase cubes. Oracle Cloud Cash Management 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. This webinar explains Smart View functionality included with Oracle Cloud CM and demonstrates how your organization can benefit from performing ad hoc analysis, while having real-time visibility into application cash flows.
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.
Elire is led by a team of experts with the qualifications, experience and credentials necessary to provide the highest quality of service.
Oracle Cloud is the next generation of IT that is quickly transforming the business world. Oracle’s integrated Cloud Services are easier to use and manage, and provide the agility, reliability, and security that modern businesses need. Elire’s Oracle Cloud ERP and HCM services make moving your important software tools and investments into the new age a seamless, effective, and efficient process.