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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Treasury Process Optimization
Ohio State University has the main campus in Columbus and campuses all over the state. Within the main campus, there are roughly 50,000 students that make up the population. It is a high-ranking public institution that offers a variety of higher educational opportunities to students and the Columbus community.
Ohio State engaged Elire through the Treasury Department to holistically improve treasury, debt, and risk management processes. Elire Partner, Brian Peterson, is an alumnus of Ohio State and actively engaged in the community to bring Elire’s expertise combined with knowledge of Ohio State’s needs.
A six-week Strategic Roadmap was conducted to map out current state processes and perform a disconnect analysis for the treasury, debt, and risk management processes. The project team conducted a process maturity assessment and presented the recommendations to improve their process maturity.
This project marked the “official” start of Elire’s Strategic Roadmapping Services and the Elire methodology and tools were still maturing during the project. The client also had highly manual processes for the Elire team to leverage their expertise to update and improve.
The Elire Team delivered to the 23 participants, 17 smooth and efficient process maps on-time and on-budget. The team identified 241 disconnects during the working sessions with 75% coming directly from the client team and 25% coming from Elires expertise and industry best practice recommendations.
Elire came up with a set of 18 key recommendations to improve process maturity and those recommendations were divided into a priority one and priority two designation to allow Ohio State to have set milestones. The Elire team provided 196 requirements to improve the processes, of which 98% could be resolved in a PeopleSoft solution or similar technology enhancement.
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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