Reimagining Enterprise Ireland’s Financial Systems Through Cloud

Enterprise Ireland, the government agency responsible for, and vital to, the development and growth of Irish enterprises in global markets, had a requirement to modernise their legacy on-premise financial and procurement systems. They needed a technology partner they could trust which led them to embark on a strategic collaboration with Version 1.

By implementing Oracle Fusion Cloud ERP, this project was not merely a technological upgrade, but a comprehensive overhaul aimed at streamlining operations and integrating best industry practices. Designed to improve efficiency for users, this transformation was scalable and adaptable, offering a blueprint for organisations in various sectors seeking similar advancements.

Enterprise Ireland faced a range of challenges with their legacy financial and procurement systems. Operating in over 30 international locations, they required a system that could support their dynamic and expansive role. The priority was to improve their business processes to maintain efficiency in the global market. Without addressing these challenges, Enterprise Ireland risked lagging in operational effectiveness, impacting their ability to empower Irish enterprises.

Enterprise Ireland had identified the need to transition to a more automated, data-driven approach. This change was not just about technology upgrades but, more importantly, about transforming business operations to better support and scale Irish businesses in the global market.

Solution

Version 1 offered a streamlined solution by implementing Oracle Fusion Cloud ERP, covering essential services like General Ledger, Accounts Payable/Receivable, and Cash Management. The close partnership with Enterprise Ireland ensured a custom fit from the beginning of the project through to its implementation, directly addressing their unique challenges and positioning them for ongoing innovation. The solution included bespoke Tax and Expense Mileage solutions to meet specific requirements and enhance internal processes, applicable across various sectors.

The project also entailed a digital overhaul, applying best industry practices to refine and improve key financial operations, thereby increasing efficiency and accuracy. This transformation modernised Enterprise Ireland’s financial systems, aligning them with leading standards and significantly boosting their global operational strength. With Version 1’s continued support through managed services, Enterprise Ireland is now well-prepared for future updates and innovations.

Outcomes

The digital transformation journey was a resounding success, revolutionising Enterprise Ireland’s business operations, enhancing reporting accuracy, and significantly boosting operational efficiency.

The transformation laid a solid foundation for enduring growth and innovation, solving immediate challenges while setting the stage for future advancements. It streamlined financial and procurement workflows, elevated data management practices, and improved operational agility.

The tailored expense solution led to a 20% reduction in processing time. These efficiencies were achieved by transitioning from a manual process to an automated mileage and subsistence expense claims process. This change not only signified operational excellence but also fostered immense customer satisfaction.

Enhanced reporting capabilities accelerated the decision-making process, highlighting the project’s broad-ranging benefits beyond mere technological upgrades.

Version 1 successfully met customer expectations and project timelines, marking a significant milestone in Enterprise Ireland’s journey towards digital excellence.