Version 1 Upgrades UK University to Higher-Education Sector
Best Practice Financials and Purchasing System
Since its creation in 1992, the Midlands-based University has evolved into one of the UK’s most dynamic, progressive, and adaptive learning institutions with 16,000 full and part-time students.
Customer Background and Requirements
- Since its creation in 1992, the Midlands-based University has evolved into one of the UK’s most dynamic, progressive, and adaptive learning institutions with 16,000 full and part-time students.
- The challenge for Version 1 was to replace a legacy, standalone, inflexible financial and purchasing solution with integrated, automated, adaptable applications with the ability to scale to handle increasing revenue growth.
- In line with higher-education sector best-practice, the University wanted to to cut cycle times, improve user productivity and minimize customisations while at the same time achieving a fast, cost-effective go-live with rapid user adoption and seamless migration from legacy tools without loss of data.
Partner of Choice
The University commissioned Version 1 to implement the solution based on a demonstrated track record in implementing Oracle Financials and Purchasing solutions for education sector customers.
Version 1 was preferred for our pre-configured higher-education specific processes which are already used by other UK colleges and universities.
Solution Successfully Implemented
- The customer leveraged Version 1’s education best-practice template to go live in just seven months.
- This cut the time of the implementation by 50% compared to standard implementation time.
- 95% of the customer’s needs were met ‘out of the box’ without customisation.
Real Business Benefits, Delivered
In addition to benefiting from a 50% reduction in standard implementation time, the customer achieved the following benefits through our partnership:
- The ability to generate quick wins and rapid time to value by using Oracle’s integrated, Web-enabled financial and purchasing applications to automate and streamline tasks previously carried out manually.
- The benefits from Version 1’s Managed Service Offering and knowledge transfer to ensure near 100% uptime and unrivalled applications performance while giving the in-house team time to skill up.
- Capitalised on assistance from Version 1 to transfer opening and closing balances seamlessly to Oracle after a short parallel run and received a complimentary report from external auditors.