Oracle Cloud Infrastructures (OCI), Oracle Business Applications, and Database technology are revolutionizing how organizations operate. Check out how global enterprises are capitalizing on Oracle technology for digital modernization.

 

Gartner has forecasted that worldwide businesses will continue to increase IT spending in 2023, despite the world economic slowdown. The market estimates that by 2026, 45% of all enterprise IT budgets will be spent on the cloud.

With increased interest in cloud computing, more and more enterprises are turning to Oracle Cloud Infrastructure OCI) and applications to achieve their goals. Oracle provides over 80 cloud infrastructure services in 34 regions and has more than 70 million users.

This blog explores five use cases of different Oracle cloud solutions adopted by enterprises (Jade's clients) to overcome business complexities around accounting, revenue management, disaster recovery, financial planning, and analysis.

From hi-tech companies to healthcare companies to advanced digital imaging solution providers, the blog covers the specific business challenges these companies faced and how Jade helped them overcome their obstacles with specialized Oracle Cloud services, along with on-prem solutions.

Use case 1- Streamlining the Revenue Management Processes

The Challenge

An insurance company was facing challenges in streamlining its revenue management processes. The company was struggling to manage its contracts, identify revenue sources accurately, and forecast future revenue. There were also discrepancies in revenue recognition, and the company needed to automate its processes to achieve touchless uploads of contract data to the Receivable Revenue Management system.

The Solution
  • REVPP Extension: Jade helped the company to design and build Revenue Pre-Processor (REVPP) extension on Oracle PaaS (platform as a service) platform. The extension streamlined the integration between Order Management and Receivable Revenue Management, ensuring precision and accuracy in revenue forecasting and recognition.
  • Automation: The company also implemented process automation for contract identification, data cleansing, and touchless upload of contract data to the Receivable Revenue Management system. The new system could automate the re-class of deferred revenue from contract liability to non-contract accounts. The reporting system was also enhanced to capture multi-year forecasts, AR to RMCS reconciliation, and Revenue by Customer (606) Report.
  • Modules integration with Oracle Cloud ERP: To streamline its business processes within the Oracle Cloud ERP system, the company leveraged various modules, including Purchasing, Inventory, Order Management, Reporting, General Ledger, Accounts Payables, Accounts Receivables, Fixed Assets, and Cash Management.
The Results

The insurance company was able to leverage REVPP extension on Oracle PaaS and enhance its Receivable Revenue Management system to achieve touchless uploads of contract data and improve revenue recognition and forecasting. Module integration within the Oracle Cloud ERP system helped streamline business processes across the organization, increasing efficiency and productivity.

For detailed information Download Case Study

Use case 2: Reliable Disaster Recovery with Oracle IaaS

The Challenge

OmniVision Technologies, a leading provider of advanced digital imaging solutions, was facing challenges with its disaster recovery (DR) site synchronization. The company was using Oracle Data Guard for its DR site, but the site sync was slow, expensive, and unusable as a standby database due to bandwidth issues. Manual logging was required every few hours to bring the backup sync in line with the primary sync.

The Solution

To address these challenges, Jade began working with OmniVision Technologies to migrate its Oracle Data Guard for the DR site to Oracle Infrastructure as a Service (IaaS). Jade also provided support for the Oracle 11i to R12 Upgrade, Oracle Apps R12 Support, and Oracle Database Maintenance and Support.

The migration to Oracle IaaS enabled OmniVision to achieve significant cost savings by reducing maintenance costs. The company reported $10K in annual savings from the reduction in maintenance costs alone.

The Results

Jade Global helped OmniVision Technologies migrate its Oracle Data Guard for DR site to Oracle IaaS, achieving faster and more reliable disaster recovery site synchronization and significant annual cost savings of $10K.

The company capitalized on Oracle IaaS to ensure high availability, data protection, and disaster recovery for enterprise data. It no longer had to manually log every few hours to bring the backup sync in line with the primary sync. The Oracle IaaS solution provided a dedicated pipeline between primary and standby sites, ensuring high availability, data protection, and disaster recovery for enterprise data.

For detailed information Download Case Study

Use Case 3: Financial Planning & Analytics (FP&A) with Oracle EPBCS

The Challenge

A leading precision oncology company dedicated to helping conquer cancer globally through the use of its proprietary blood tests, vast data sets, and advanced analytics were facing challenges due to rapid growth.

Its existing FP&A system utilized a manual process with data validation, resulting in a lack of transparency and standardization. Although the company had attempted to roll out Oracle EPBCS (Enterprise Planning and Budgeting Cloud Service) with help from another vendor, the implementation was not successful. The company was also dependent on the Oracle Financial Cloud environment.

The Solution

To address these challenges, the company partnered with Jade to implement a tightly integrated Oracle Cloud solution comprising Oracle Financial Cloud, HRMS, and ADP with EPBCS.

The solution provided the following:

  • Driver-based budgeting and planning
  • What-if analysis
  • Real-time financial reporting on group level and entity level,
  • Real-time variance on actual vs. budget vs. plan.
  • Workforce planning and budgeting
  • Calculation for workforce
  • The projection for To-be-Hire (TBH)
  • Conversion of Excel-based budgeting and forecasting into a centralized solution.
The Results
  • Standardization of FP&A: The implementation of the tightly integrated Oracle Cloud solution enabled the precision oncology company to achieve standardization and transparency in its FP&A processes.
  • Automation: The company was able to replace its manual process with a more streamlined and automated solution that eliminated errors and improved accuracy. The solution also provided real-time visibility into financial performance at the group and entity level, enabling better decision-making.
  • Better The workforce planning and budgeting: This solution provided the company with the ability to accurately forecast workforce needs, project benefits costs, and plan for new hires. The solution enabled the company to project the costs of new hires, allowing it to make informed decisions about when and where to hire new staff.

In nutshell, the company got the tools it needed to make informed decisions about financial performance and workforce planning, enabling it to continue its mission to conquer cancer globally.

For detailed information Download Case Study

Use Case 4: Global Business Processes Automation with Oracle Fusion Cloud

The Challenge

The Client Pango Group provides consumers identity protection and security services through a growing portfolio of industry leading products. The company had been using on-prem QuickBooks for Financials and Accounting, which required a skillful workforce to maintain the database.

With their existing manual AR invoice automation process, there was no detailed analysis of deferred revenue. Consolidation was a constant headache, and sub-ledger to GL reconciliation was really tedious as it was done manually.

Pango's deals with more than 7 different platforms (e.g., Apple, Google, Microsoft, Digital River, Vindicia, etc.) so AR invoice automation was a concern. Also, the company needed a spreadsheet-based approach for the depreciation of its tangible and intangible assets. Bank reconciliation was difficult to handle as there was no systematic approach. Another hurdle was manual approval for business processes, which slowed down the period close and delayed reporting to management.

The Solution

Jade Global implemented Oracle Fusion R13 – 20A with General Ledger (GL), Accounts Receivable (AR), Accounts Payable (AP), Fixed Assets (FA), Cash Management (CM), and Purchase Order (PO) modules. The Jade team mapped Pango's global business process to the standard Oracle Cloud business process; automated revenue integration using Boomi with Oracle Fusion and automated revenue recognition.

The Results

Pango achieved efficient global business processes across all functions, reduced the financial closing time by 90%, and achieved a single source of truth for revenue reporting and traceability to individual transaction lines. The seamless, robust integration between platform revenue data and ERP revenue provided real-time data and drill-down to the leaf node. The automation of GL consolidation processes using the best business practices embedded in Oracle Cloud solutions improved financial reporting quality.

For detailed information Download Case Study

Use case 5: External Application Integrations using OIC

The Challenge

A hi-tech product company needed to migrate from NetSuite to Oracle Cloud to support its rapidly expanding business. However, they needed to integrate multiple external applications with their Oracle SaaS Cloud platform in real time. Specifically, they needed to seamlessly integrate Zuora with Oracle Fusion Account Receivables to support their accounting processes.

The Solution

The company turned to Jade for help in building over 40 integrations using Oracle Integration Cloud (OIC). These integrations included various transaction types such as invoices, credit memos, receipts, advance receipts, and refunds on payment and credit memos. By streamlining and standardizing its end-to-end process using OIC, the company was able to achieve a seamless and standardized accounting process that could support its high scalability and business agility.

The Results

The migration to Oracle Cloud and integration with external applications led to numerous benefits for the company. Oracle Cloud Infrastructure Compute provided the performance, flexibility, and control that the business needed to thrive. It helped streamline and standardize their business processes and improved the user experience, self-service capability, and overall productivity. Additionally, the Oracle Cloud platform with automatic upgrades and feature releases led to a lower total cost of ownership.

For detailed information Download Case study

For comprehensive Oracle Cloud services, migration, module implementation, functionality enhancements, audits, integrations, managed services, and others, check out Jade as an Oracle partner.

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About the Author

Mitali Sharma

Mitali Sharma

Associate Manager-Content Strategist at Jade Global

Mitali Sharma, an Associate Manager-Content Strategist at Jade Global, has been a technology writer for the last ten years. She writes about technologies like Cloud Computing, Robotic Process Automation, Enterprise Applications, digital transformation, etc.

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