Oracle Fusion Cloud and OIC support and Enhancements

Industry:
Financial Services

Oracle Fusion Cloud and OIC support and Enhancements

Industry:
Financial Services

Client Overview

Specialist Provider of Debt Financing Solutions and  a specialist provider of structured finance solutions established with support of the Government of Singapore.

Key stakeholders include Temasek Holdings, Standard Chartered Bank, DBS Bank, SMBC, Prudential Assurance, Manulife Insurance.


Project Scope

  • Rollout activities for Five new Operating Units based upon the line of business-like Clifford Capital holdings for Global Debt, Clifford capital, Bayfront and Pier front.
  • Regular Production Support for daily activities for the modules AP, Cash Management, Inter company, General Ledger.
  • Develop complex reporting using the OTBI reports for various line of Business.
  • Automation of FIS data files uploads to Oracle fusion though OIC
  • 2FA implementation in Oracle financials cloud

Environment

  • Oracle Fusion Financials Cloud Release 21C (AP,AR,GL,Fixed Asset,Cash management and Intercompany
  • Oracle Integration Cloud
  • Oracle EPM Cloud (FCSS & EPBCS) Implementation in progress.

Business Situation

  • Short turnaround time for the Rollout
  • Automate the testing for quarterly patch updates and version upgrades.
  • Manual upload of FIS files will cause delay in month end closures, Automation through OIC allow users to do financial closures on time.

Key Challenges

  • Short turnaround time for the Rollout
  • Automate the testing for quarterly patch updates and version upgrades.
  • Manual upload of FIS files will cause delay in month end closures, Automation through OIC allow users to do financial closures on time.

Solution

  • Smart BOTS was setup for the Rollout Operations which reduced the timeline and manual intervention in the setup process.
  • Around 90 use case scenarios configured in the Smart BOTS for quarterly patch and version changes.
  • End to End cycle testing for the new BU was performed with Smart BOTS.
  • SSO enablement done for all Clifford users in order to achieve the 2FA in oracle financials cloud.
  • Alerts and Notifications for FIS files upload.

Business Process Flow

Benefits

  • Quicker turnaround for Rollout operations
  • Automated Business Unit rollout which can be used for future rollouts.
  • Use case testing for quarterly patch updates –plug and play for future upgrades.
  • Automation of FIS files through OIC reduces the processing time and work effort of users.
  • Automated test results documents
  • Clifford’s users will get notified upon file uploads.

Reference

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