Elire News

Tag: Financial Services

Elire Delivers Cloud Success for Financial Services Firm

July 17th, 2019

Elire Delivers Cloud Success for Financial Services Firm

Elire recently implemented Cloud General Ledger for a subsidiary of the 5th Largest Bank, headquartered in Minneapolis. The nation’s most active tax credit investor and community development lender. They Provide innovative financing solutions to meet the community and economic development needs of our partners and those they serve.

Top Customer Objectives and Challenges

  • Implement Oracle Cloud General Ledger
  • Reduce the amount of manual work performed
  • Increase Internal Controls and Reduce Risk to Client
  • Reduce the burden of audit cycles, internal and external
  • Improve the Financial Reporting Processes

Success Delivered – Project Results

  • The project went live on December 1st, 2018 with Parallel, full cutover on January 1st, 2019
  • Automated Journal Interface to Corporate saved time in two ways
    • No more paper copies to be passed around and maintained.
    • Automated Entry and workflow speed up the transaction processing time. Any investigation into a specific Journal is as easy as “clicking through”. 
  • Expanded Financial Reporting Capabilities with the Implementation of Oracle Cloud GL, giving more granular transactional detail to support Managerial, Business, Regulatory, Audit, and Tax Reporting Requirements
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