Overview
The client is one of the largest manufacturers of metallic aerospace detailed parts in Europe, with facilities spread across Europe, India and the UK. The client has highly complex accounting needs and deals with a high volume of transactions.
Business challenges
- Rapid growth over a period of time had introduced higher levels of complexity in the accounting processes, and the existing accounting software package was proving to be insufficient for their expanding requirements.
- Consequently, the client had decided to migrate from their existing accounting software to Oracle.
- Additionally, in order to optimise the accounting performance, they wanted to overhaul their existing accounting processes.
How QX helped
The QX team played a proactive role in the success of Oracle migration and worked diligently to ensure the success of the process reengineering efforts.
Oracle migration
- Analysed current processes and identified the requirements for future process optimisations.
- Supported the seamless data migration from the existing software systems to Oracle.
- Played a key role in user acceptance testing of the Oracle software: identifying and documenting problems and sending to the development team.
- Trained the in-house team in troubleshooting Oracle to reduce dependency on Oracle consultants.
Process reengineering
- Delivery of end to end accounts payable, account receivables, treasury, and monthly management accounts on tight deadlines.
- All entities spread across geographical locations on-boarded on Oracle, phase wise; creating this one integrated platform for all units made reporting much easier and efficient.
- Ensured seamless interface between operational ERP to Oracle to eliminate duplication of bookkeeping.
Key benefits delivered
- Slashed the delivery time for Management Accounts from 7 days to 3 days by making optimum use of Oracle and through process improvement.
- Leveraged Oracle to clear a large volume of backdated reconciliations within 6-8 months of implementation.
- Developed internal KPIs to ensure that the client benefits from our improvements on a continuous basis.
