Revamping Financial Systems: A Digital Asset Leader's Transformation With Oracle And Accelalpha

The Challenge

A prominent leader in the digital asset industry encountered substantial difficulties with its initial Oracle EPM and ERP implementations with another SI. The existing systems were inefficient at managing the financial consolidation and close process, significantly impacting the company's operational efficiency. These challenges were compounded by deficiencies uncovered after the initial deployment of Oracle Fusion in 2022, highlighting the need for a specialized approach to correct and enhance the existing setup.

Our Approach

Accelalpha was brought in to provide an independent assessment and address these critical issues. Our team focused on three primary objectives:

• Fix Oracle FCCS for Proper Consolidation: We corrected the FCCS implementation to ensure accurate financial consolidation and close processes.
• Implement Data Governance in EDM: Enhancing enterprise data management was crucial for enforcing data governance rules and ensuring synchronization across all Oracle applications.
• Workforce Allocation in Planning: We developed a workforce allocation solution within Oracle Planning to accurately allocate employee costs and enhance financial oversight.

Our approach combined rapid diagnostic assessments with a tailored implementation strategy that prioritized transparency, accuracy, and strategic business alignment.

The Results

The collaboration between the organization and Accelalpha led to several significant improvements:

• Improved Financial Reporting: The corrections made to FCCS and enhancements in EDM allowed the organization to rely on precise financial reporting and analytics, which are crucial for informed business decision-making.
• Enhanced Data Governance: The new data governance policies deployed within EDM enable the organization to ensure high data quality and integrity across its Oracle applications.
• Operational Efficiency: The new workforce allocation solution has streamlined the process of allocating employee costs, significantly contributing to overall operational efficiency and cost management.

The success of the ERP and EPM implementation not only rectified past issues but also set a solid foundation for the organization's future growth. Impressed with the outcomes, the organization has opted to continue its partnership with Accelalpha for ongoing support and managed services, reinforcing the trust and satisfaction with the solutions provided. This highlights Accelalpha's expertise in Oracle solutions and its capability to act as a trusted advisor and partner in the complex financial system landscape.