oracle cloud cash management optimization atco

ATCO

Oracle Cloud Cash Management Optimization 

Founded in 1947, ATCO is a large Canadian holding company with nearly 7,000 employees. With diverse products and services across many industries, ATCO provides integrated energy, housing, transportation, and infrastructure solutions. ATCO servers customers by providing innovative and sustainable solutions in housing, real estate, energy, water, transportation, and agriculture. From the delivery of efficient and reliable energy for homes, businesses, and communities, to affordable temporary and permanent buildings, ATCO creates communities, energizes industries, and delivers customer-focused solutions.

Scope of the Project

ATCO and Elire started their engagement through Oracle’s Customer Connect community where ATCO resources had been posting questions regarding Oracle Cloud’s Cash Management functionality. This in turn flourished into a two-phase optimization project of ATCO’s Cash Management suite.  Phase I consisted of a Current State Assessment of Bank Reconciliation System and Business Processes – Oracle Fusion Cash Management/AR/Payables/External, including:

  • Full review and assessment of current state of business processes and Oracle Fusion system configuration within:
  • BAI files and parse rules
  • Automatic Bank Reconciliation - Oracle Fusion AR, AP, and Receivables, transactions from Oracle AR subledger and a 3rd party system not integrated with Oracle
  • Clearing Account Reconciliation
  • Cash to General Ledger Reconciliation; Cash in Transit Reporting and Bank Reconciliation Report reporting
  • Analysis of current state assessment to provide detailed recommended technical/Oracle Fusion configuration solutions
  • Solution to "restart" Oracle Cash Management Module ○ Create and document high-level project plan for re-implementation based on Consultant's recommendation and Company's ultimate decision

Phase II consisted of the Re-implementation of Bank Reconciliation and Treasury Accounting:

  • Full review and requirements gathering related to the reconfiguration of Oracle Fusion Bank Reconciliation system configuration within:
  • BAI files and parse rules
  • Automatic Bank Reconciliation - Oracle Fusion AR, AP, and Receivables, transactions from Oracle AR subledger and a 3rd party system not integrated with Oracle
  • Reconciliation Start Date option
  • Bank Reconciliation Reporting
  • Supporting reconciliations from AP, AR, and External Transactions modules

The Challenge

During the initial implementation of the ERP system, Cash Management had not been a focal point, meaning configuration was put in place in order to get the module functioning. Common best practices for Oracle Cash Management had not been adhered to, which caused the module functionality to not meet the business’s requirements to operate. This led to cash reconciliation to be managed externally from the ERP and manual excel-based reports to be created for the close process.

Success Delivered

Elire was able to deliver on all phases of the engagement with ATCO. The successful assessment from Phase I allowed the team to understand exactly where problems arose during the initial implementation of Oracle Cloud, and why Cash Management was not being utilized through a series of interviews held with various businesses within ATCO. Elire was able to produce a complete recommendation that would provide answers to their Cash Management pain points.  In Phase II, the team took the recommendation and put it into action. This included data conversion and clean up of historical transactions and statements to give ATCO a clean restart on their cash reconciliation. Elire was also able to implement new automatic reconciliation rules and configurations to create a more efficient business process for the team. Lastly, delivered reports that were previously unused due to not meeting the business’s needs have been customized to meet ATCO’s requirements and are now fully utilized as a part of the close process.  

Interested in learning more about how Elire can assist your Cloud team? Visit our Cloud Services Page or contact our team at [email protected].
 
Interested in learning more about how Elire can assist your Treasury team? Visit our Treasury Services Page or contact our team at [email protected].
 

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