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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Kyriba Module Implementation
The National Veterinary Association (NVA) is a community of more than 1,400 general practice clinics, emergency hospitals, equine practices, specialty hospitals, and pet resorts. Their doctors and pet care teams share best practices, medical knowledge, innovation, and insights in order to service their local communities with best-in-class care and medicine. NVA has the goal of providing comfort and well-being of pets by providing progressive and compassionate care.
Elire was tasked with implementing the Kyriba modules Bank, Cash, Debt, Payments, Core Data, and Cash Accounting as well as getting the NVA team up to speed on utilizing their new TMS. The goal was to streamline their banking structure, improve their visibility, reduce vulnerability to rising interest rates, and to standardize their treasury and payment controls. The Elire Team also worked with NVA to get their team up to speed and comfortable with their Kyriba investment.
Changes in personnel made the project continuity difficult, but luckily the NVA team had enthusiastic project leadership that stepped up to reteach the rest of the departments and lead configuration efforts.
The Elire and NVA teams successfully implemented Kyriba and went live May 22, 2023. The NVA team achieved close to 100% visibility to their day-to-day activities. They saw reduced bank portals and centralized all processing onto Kyriba, automated accounting reporting, and completed digital integration of debt and FX, reducing their FX risk exposure. By cash position worksheets focusing on account grouping by departments, budget codes, and region NVA can now capture data from bank transactions and categorize them based on sub accounts found within the description.
Interested in learning more about how Elire can assist your Treasury team? Visit our Treasury Services Page or contact our team at [email protected].
Oracle Cloud EPM FCCS streamlines financial consolidation, enhancing accuracy and compliance.
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