Financial Close and Consolidation with Oracle Cloud EPM
Oracle Cloud EPM FCCS streamlines financial consolidation, enhancing accuracy and compliance.
November 12, 2024
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PeopleSoft HCM 9.1 to Oracle Cloud HCM
In 2017, the client began to evaluate whether to stay on PeopleSoft or make a move to Oracle Cloud. This evaluation was prompted by the fact that their organization was currently on an unsupported version of PeopleSoft 9.1. While the path to Cloud was intriguing, Oracle Cloud was not yet FedRAMP certified at the time.
It was at this point, after Elire completed a series of PeopleSoft updates, that the Elire and client teams collaborated to discuss the realistic path to Cloud. Internally, the decision to move to Oracle Cloud had been made, realizing that their highly customized version of PeopleSoft 9.1 would require increasing maintenance costs and frequent upgrades. The client team also had a strong interest in modernizing their HCM footprint, which can be difficult in the DOE/federal space. Even with the decision to move to Cloud being made, the client team still had questions on the level of fit for the Cloud application to their internal and DOE requirements, prompting a Strategic Roadmap Assessment in Summer 2018.
Elire was engaged to complete the Strategic Roadmap Assessment, including a fit/gap that determined Oracle Cloud would be about a 90% fit for their 700 requirements. Following the engagement, a formal RFP for implementation was released and Elire was awarded the contract.
The Cloud transformation team was tasked with implementing Oracle Cloud Human Capital Management (HCM) to provide secure and sustainable business systems that supported business processes and services and bring value and productivity to their team. The future Cloud footprint included the Core HR, Payroll, Benefits, Absence Management, and Compensation. Additionally, a substantial portion of the project involved converting all legacy historical employment data from PeopleSoft and moving all integrations and reports.
The Cloud transformation team was tasked with identifying and removing a large number of customizations in the existing PeopleSoft 9.1 environment. In the move from a highly customizable system such as PeopleSoft to a best practice, defined process system like Oracle Cloud, the team had to be strategic in making business process changes that aligned with DOE requirements while leveraging delivered capabilities in Oracle Cloud. This was of particular concern around workforce compensation and variable pay structures, with the client team opting to let go of old systems and processes and utilizing Oracle Cloud’s delivered best practices.
In addition, regulations within the federal space required increased security measures and limits on the kinds of data the team was able to use in testing. Aligning architecture with security policy and in particular data organization was a challenge, as Oracle Cloud was early in the FedRAMP approval process. The Cloud HCM application itself was FedRAMP certified, however the Oracle Platform-as-a-Service (PaaS) initially was not.
The ultimate goal of the project to provide secure, supported, sustainable enterprise business systems that support business processes and services, and bring value to the DOE lab was achieved. The project team was able to migrate the full historical employment data from PeopleSoft to Cloud HCM, eliminating the need for a separate data warehouse.
Elire designed and implemented process improvements to streamline benefits enrollment self-service, administration, and vendor integration. The team also eliminated manual and paper processing with compensation awards. With 99.9% gross to net payroll match, the Project Team executed and mid-year payroll conversion go-live on August 10, 2020.
Since then, the Elire and client teams continue to optimize cloud utilization, including implementing 2021 Benefits Open Enrollment, Workforce Compensation for annual compensation awards, and variable pay awards going live late summer/fall 2021. The Cloud transformation team also successfully navigated year-end tax reconciliation and W2 processing, implementing process improvements in all module areas, and maintenance and operations activities.
Elire continues to support optimization efforts and the client’s Cloud transformation. Optimization efforts include implementing responsive UI (User Interface) pages for core HR, variable pay award administration using workforce compensation, automated I9 processing, and 2021 ACA (Affordable Care Act) reporting. The move from PeopleSoft includes implementing a solution for time administration and outsourcing pension to a 3rd party administrator. Long-term, the Cloud transformation team hopes to implement more modules including Time and Labor, Performance & Talent Management, and explore options with Cloud ERP.
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 PeopleSoft team? Visit our PeopleSoft Services Page or contact our team at [email protected].
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