This Financial Services Company Cooperation is a collective of Francophone credit unions based in New Brunswick, Canada, and active mainly in the province’s Acadian region.
This Financial Services Company was using legacy software and manual processes to support most of their Finance, Supply Chain and planning / budgeting processes (e.g., excel, Microsoft Access, old point solutions). They were looking for an opportunity to modernize / standardize these processes on a highly integrated Finance, Procurement and Planning / Budgeting platform.
Cloudworks implemented the Company’s ERP modernization program. The scope of the release included General Ledger, Cash Management, Expense Management, Accounts Payable, Fixed Assets, Procurement, Inventory as well as enterprise planning and budgeting.
Oracle Financials Cloud:
The Financial Services Company was provided with standard processes, enhanced functionality and process automation to improve the organization’s overall Finance, Supply Chain and budgeting / forecasting processes.
Key items included, mobile / online expense entry, EFT payment capabilities, AP automation including invoicing scanning via optical character recognition, requisition capabilities for all branches, standard processes / functionality for formerly manual processes and enhanced financial statement reporting.