Business Context
About the Client
The Challenges
Our team needed to create a centralized financial system to overcome the existing challenges that MedChoice Pharma was facing. Some of them are:
- The existing spreadsheet files did not support financial processes such as audit trail, security, reporting, and integration.
- Tracking the versions on the excel sheets was a seemingly impossible task during consolidation.
- Preparation of ratio analysis, balance sheet, profit and loss, and cash flow had its own set of challenges.
To overcome the above challenges, the Mastek team completed the deployment in just 16 weeks, remotely, using the ADOPT approach. We continually resolved all support-related issues throughout the life cycle of the project.
To overcome the above challenges, the Mastek team completed the deployment in just 16 weeks, remotely, using the ADOPT approach. We continually resolved all support-related issues throughout the life cycle of the project.
The Situation
Our team needed to create a centralized financial system to overcome the existing challenges that MedChoice Pharma was facing. Some of them are:
Project deadline was strictly 12 weeks since their existing systems license expiration was due by the end of it
Business processes and data integration was spread across different states of Australia
In addition to the inputs from the systems there were manual entries for investment income, claims reserving and administration costs
-
Project deadline was strictly 12 weeks since their existing systems license expiration was due by the end of it
-
Business processes and data integration was spread across different states of Australia
-
In addition to the inputs from the systems there were manual entries for investment income, claims reserving and administration costs
The Solution
- Our team helped automate the complete financial process using Oracle Financial Consolidation and Close Cloud Service (Oracle FCCS), a sub-module of Oracle EPM.
- A custom report dashboard was created by the team in order to get consolidated reports.
- Migrated the financial systems that are currently used across the businesses in Australia, with a more modern, cloud hosted SaaS solution – Oracle Fusion ERP modules
- Leverage new and emerging solution capabilities such as increased automation and integration to remove manual, repetitive tasks
- 100% offshore implementation was done to meet project deadline during the Covid-19 restrictions
The Solution
- Our team helped automate the complete financial process using Oracle Financial Consolidation and Close Cloud Service (Oracle FCCS), a sub-module of Oracle EPM.
- A custom report dashboard was created by the team in order to get consolidated reports.
- Migrated the financial systems that are currently used across the businesses in Australia, with a more modern, cloud hosted SaaS solution – Oracle Fusion ERP modules
- Leverage new and emerging solution capabilities such as increased automation and integration to remove manual, repetitive tasks
- 100% offshore implementation was done to meet project deadline during the Covid-19 restrictions
These Solutions Included
- Creating a unified front-end that makes data workflows highly customizable and accessible for application development.
- Rewriting queries and processes that were defined in Oracle to AWS-friendly SQL.
- Building a secure, continuous data sync between legacy systems and the cloud.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Integer nec odio. Praesent libero. Sed cursus ante dapibus diam. Sed nisi. Nulla quis sem at nibh elementum imperdiet. Duis sagittis ipsum.
Client, XYZ Company
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Integer nec odio. Praesent libero. Sed cursus ante dapibus diam. Sed nisi. Nulla quis sem at nibh elementum imperdiet. Duis sagittis ipsum.
Client, XYZ Company
Benefits
Improved Quality and reliability of services.
Improved customer satisfaction & confidence.
Average monthly critical system issues reduced by 60%.
Reduced staffing and systems management time.
Average monthly performance issues reduced by 90%.
The Outcome
Putnam’s migration was completed in just 60 days. With many Python based, self-service utilities set up; the data architecture team was able to support an acceleration in customer analytics processes and go-to-market plans.
A more modern and widely used platform in place in the way of future capabilities, and the potential to support all possible future requirements
Enhanced and more flexible reporting capabilities achieved with OTBI, Smart view and HFRS
As a strategic partner, the client continued the trust our capabilities and continued with a 12-month post Go-Live support contract
A more modern and widely used platform in place in the way of future capabilities, and the potential to support all possible future requirements
Enhanced and more flexible reporting capabilities achieved with OTBI, Smart view and HFRS
As a strategic partner, the client continued the trust our capabilities and continued with a 12-month post Go-Live support contract
Streamline your business processes with
Oracle EPM Cloud
Step into the next generation of business process planning with the power of automation. Leverage flexibility, sociability, and predictive planning to mitigate compliance challenges and outperform volatile market conditions.
Oracle EPM Cloud Implementation Success Stories
Decomplex
Customer Success
Decomplex
Customer Success
Leading automation for the Ministry of Justice
Driving improvement in patient care with data insights
Flexible IT systems for VISA verification
One of the largest county Councils of Greater London saved £4.5m annually