Oracle Fusion Cloud VAT Implementation and Support

Industry:
HealthCare Company

Oracle Fusion Cloud VAT Implementation and Support

Industry:
HealthCare Company

Client Overview

A Leading Health Care Company in Dubai - established in 1976. Since then, it has been growing from strength to strength blending the latest technology with impeccable business acumen and meeting the most challenging requirements of the fast-evolving technology landscape.

Also provides a complete range of services to various verticals like Banking and Finance, Energy, Education, Government, Healthcare and Telecommunication by leveraging technology, domain and business expertise and high quality customer support.


Project Scope

  • UAE VAT Implementation
  • Custom PaaS solutions for Inventory purchase against and inventory movement against projects.
  • Enhancement in the existing business process.

Environment

  • Oracle Fusion Cloud Application.

Business Situation

  • Short turnaround time for the Implementation.
  • Multiple business verticals like Telecom, Infrastructure, and Healthcare .
  • Testing for quarterly patch updates and version upgrades.

Key Challenges

  • No System to capture Inventory purchase against Projects.
  • No Control on Project Budget Versioning.
  • Few Users lack knowledge on Business Process.
  • Difficulties in handling Rebates for Projects.
  • No control of payments & Receipts between Project team & Finance.
  • Cost spent against the Revenue recognition in projects
  • No systematic tracking on various project cost (Material, Sub Contractor, Admin, Miscellaneous, labour) 
  • No process for Retention, Progressive adjustment for project advances.

Solution

  • Tracking of Account payables and Receivables invoices, payments with proper accounting at GL
  •  Developed Custom PO form through PaaS to support Inventory purchase against Project and Project Budget validation.
  •  PO Change order approval workflow enabled.
  • Done the reconciliation activities and support for all month end closure activities.
  • Enabled Project Rebate in the Project Budget.
  • Project and Budget approval workflow enabled.
  • Provided User Training and User Manuals
  • Restructured the COA to get the P/L based on Divisions and Subdivisions
  • Configuration is done for 4 Legal entities with 4 Operating Unit specific tax engines and   Inventory Orgs transaction defaults with different tax rates in P2P and O2C Cycles.

Business Process Flow

Benefits

  • Real time revenue and cost visibility is achieved.
  • Project to GL Reconciliation Report provides for project vise reconciliation.
  • Automated the stock transfer process to Projects.
  • Complying with statutory requirements as per UAE VAT Law by capturing the VAT on project advance from customer and adjusting in progressive invoices.
  • Able to track various costs (Material, Labour, Sub contractor, Admin & Misc.)with reference budget to Actuals and Project wise P/L visibility.

Reference

Terms of UseContact
No items found.