Dubai-based Industrial Conglomerate Partners with Birlasoft and Streamlines Business Processes with Oracle JD Edwards EnterpriseOne 9.1

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    Configured JD Edwards EnterpriseOne 9.1

Customer Overview

The customer is a Dubai-based industrial conglomerate and one of the UAE’s pioneering organizations. They provide a wide range of services – architecture and engineering consultancy, interiors design, real estate, hotel apartments, furniture, lighting systems, and transportation.

Business Situation

As they were growing, the customer faced multiple challenges with the outdated ERP system which had become one of their biggest roadblocks to cope up with the competitive market needs. Some of the key challenges faced by them include:

  • The ERP system was ill-equipped to support multi-currency transactions, as a result of which the organization had limited functionality of such transactions and missed to tap many global business opportunities
  • Improper management of company expenses, as the system was unable to bifurcate the additional cost such as brokerage on shares, stock exchange fees, consultation fees, expert advice on purchase and sale of different asset classes
  • Uploading market value (shares/stocks) was time-consuming and had compatibility issues
  • There were inaccuracies in the MIS reports generated, which further led to mismanagement of information and poor decision making
  • Being an offline software, it had no backup in case the system crashes or some mishap takes place. In addition, the data needed to be separately backed up

Implemented JD Edwards EnterpriseOne 9.1 which enabled the customer to respond more quickly to changing business environment, streamline financial processes, and improve accuracy of reporting

  • Incorporated Distribution and Finance modules within JDE as Portfolio Management System (PMS) by using E1 functionalities
  • Provided integration and flexibility for the business needs to optimize their payables process
  • Integrated financial information in real time that helped the business meet financial consolidation and reporting needs of a complex business environment
  • Provided facility to capture bank and broker information during transaction with the option to enter flexible fees like brokerage, consultation, exchange, subscription, and placement
  • Enabled uploading of historical data for all purchases and sales transactions of the business
  • Met critical statutory requirements of the auditor and ensured JDE Trial Balance matches for each year
Benefits Realized
  • Streamlined operations: Improved usability, minimized human errors thus enhancing report accuracy and enabling easy accessibility of information
  • Implemented additional reports: Based on key financial Metrics like Securities and Funds Ageing Analysis & XIRR (Extended Internal Rate of Return)
  • Accurate Forecasting: Accurate calculation of Return on Investment (ROI) by capturing 'acquisition date' of historical data
  • Enhanced MIS reports: Business information available in high-quality reports which are accurate and reliable
  • Detailed data capture at transaction level: viz. purchase, sales etc. with the option to enter flexible fees viz. brokerage, consultation, exchange, subscription, and placement
  • Robust tracking mechanism: Customer is now able to track the investment in various asset classes and multiple currencies with key profitability values and also able to track key metric such as CAGR in detail
  • Financial consolidation: Financial consolidation of all investments under a single reporting currency .i.e. AED Customer is now able to consolidate the multiple currencies into AED at any given point of time and can calculate the total investment both in reporting currencies (AED) and respective foreign currencies.