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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AP Automation Strategic Advisory Services Part 2
Strattam Capital is a private equity firm that invests in founder-led, independent technology companies across North America. One of their portfolio companies is MHC, a software development company with offices in the US and Romania. MHC develops solutions that help customers simplify, digitize, and automate content and processes across core business functions including Accounts Payable (AP), Supply Chain, Human Resources, Payroll, and Customer Engagement.
MHC delivers several software solutions in the areas of Accounts Payable Invoice Automation, Enterprise Content Management, Payment Automation, Document Creation & Management, and Channel Communications/Engagement automation platforms for midmarket and enterprise customers across the world.
MHC and Elire’s journey originally began in 2021 when MHC enlisted Elire to complete an independent assessment of their flagship AP Automation platform, Northstar. The initial assessment focused on strategically positioning the solution within the ever-changing marketplace. In 2023, MHC once again engaged Elire to revisit the initial analysis and better align updates to their platform with the evolving market dynamics. For more information on Elire and MHC’s first collaboration, check out the Strattam Capital Success Story Part 1.
Securing Elire’s expert Advisory Services, MHC looked to refresh their original AP Automation Landscape assessment. Specifically, Elire provided an overview of the AP Automation Landscape for three key Oracle ERP platforms including E-Business Suite, PeopleSoft, and Oracle ERP Cloud. Elire kicked off the project with an Oracle documentation review and deep-dive interviews with Oracle EBS, PeopleSoft, and Cloud functional SMEs, as well as product demonstrations of MHC’s improved Northstar solution.
One of the central challenges that emerged during the course of this project was the rapid evolution of Oracle Cloud’s Intelligent Document Recognition (IDR) tool. Oracle’s continued investment in IDR over the past two years resulted in a substantially more capable platform than had been assessed during the original landscape review.
To overcome this hurdle, Elire embarked on an extensive research effort. The Elire Team delved into Oracle’s product documentation, dissected press releases, scrutinized release notes, and leveraged demo environments to test the limits of the solution. This thorough approach was instrumental in ensuring that Elire had a deep understanding of the IDR tool’s current capabilities.
Elire’s meticulous efforts resulted in a comprehensive landscape overview, which was presented in July of 2023. This updated AP Automation Landscape Assessment provided essential insights surrounding complex competitor software applications and offered strategic guidance on how to best leverage MHC’s AP Automation strengths and address possible weaknesses. Additionally, Elire completed the project under budget and on time.
Interested in learning more about how Elire Advisory Services can assist your team? Visit our Advisory Services Page or contact our team at [email protected].
Oracle Cloud EPM FCCS streamlines financial consolidation, enhancing accuracy and compliance.
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