A Leading Debt Management Organisation reduces costs and harmonises processes with Oracle Fusion ERP

Our client is a leading debt management and recovery organisation operating globally to help its customers find a better way of financial management. Based in the United Kingdom, DACH, and the Nordics, they have an annual sales revenue of over £1bn.

Version 1 helped the organisation transform its ERP debt management solution with Oracle Fusion ERP.

Before this engagement, they used a combination of SAP, Microsoft, and Unit 4 ERP solutions which were not a strategic fit for the future financial shared service center.

Version 1 worked with them to redesign the Chart of Accounts and implement Fusion Financials together with the Enterprise Performance Management Suite (EPM) including FCCS (Financial Consolidation and Close), EPBCS (Enterprise Planning and Budgeting Cloud Service), and ARCS (Account Reconciliation Cloud Service).

Parallel to the formation of the shared service centre, the company needed to harmonise business processes as they had become disparate over time, resulting in challenging data architecture and quality. Their final request was the implementation of best-of-breed applications and technology, since existing systems were largely on-premise, resulting in a high total cost of ownership.

A complex and demanding integration was completed using Version 1’s Cloudbridge Suite allowing a seamless connection between ERP and EPM solutions alongside integrations of all systems within the UK, DACH, and Nordic regions.

• Disparate ERP solutions including SAP, Microsoft, and Unit 4 were unsuitable for the planned shared service center.
• Fragmented data lineage and Master Data Management without a 360-degree view of their most valuable data assets.
• Need for globally harmonised business processes and Chart of Accounts.
• Unreliable Financial Close and Consolidation data along with the slow and inefficient process.

Solution

• Harmonisation of global business processes through Conference Room Pilots and a Global Design based on best practice ERPM process flows.
• Implementation of the Cloudbridge Suite as the central integration hub across the business.
• Post-go-live Managed Services to complement the implementation and further roadmap delivery.
• Use of  Version 1’s unique implementation methodology.

Outcomes

• Cost savings of £10m over 5 years with Return on Investment within the first year.
• Reduction of operating expenses (OPEX) by 15%.
• Global harmonisation of back-office business processes.

Version 1 was able to deliver in rapid time and guided us along the way with a friendly face. They are a delight to work with, which is often missed in such large finance transformation.

Our strategic finance transformation program was an immense success that helped us save millions of pounds, and Version 1 played a vital role in this crucial project. – CFO