Advertising Agency

CLIENT

A New York-based advertising and marketing firm, specializes in consumer media marketing and incentive campaigns

PROJECT

Transform finance operations, streamline procurement, and enhance reporting capabilities

Challenge

The company needed to modernize its financial operations to align with industry best practices and support its growth

WHAT WE DID

We implemented Oracle ERP Cloud Financials and Procurement solutions

CHALLENGES

The client faced several inefficiencies with their legacy financial systems and manual processes:

Cumbersome Procurement: Manual, time-intensive procurement processes with complex rules and limited visibility into purchase orders (POs).
Invoice Reconciliation Issues: No streamlined way to reconcile invoices with POs, creating inconsistencies and inefficiencies.
Cost Complexity: Unstructured cost components made procurement cost tracking complex and cumbersome.
Slow Processing Times: Manual workflows led to long PO cycle times, delaying operations and decision-making.
Limited Reporting: Executives lacked visibility into total liabilities and spend analysis, hindering strategic planning.

RESULTS & IMPACT

Drivestream implemented Oracle ERP Cloud Financials and Procurement solutions, transforming the company’s financial operations with streamlined processes and advanced reporting capabilities.

Solution Highlights:

Procurement Simplification: Created a PaaS portal for managing purchase orders, reducing PO creation time from 8 hours to just 10 minutes.
Streamlined Cost Structures: Simplified cost components from 100 to 30, improving efficiency and accuracy in financial tracking.
Enhanced Invoice Reconciliation: Introduced processes to align invoices with purchase orders, improving financial accuracy.
Executive Reporting: Delivered real-time spend analysis by product and supplier using Oracle Financial Reporting Studio and Smart View.
System Integration: Built integrations to synchronize in-house apps and Salesforce with Oracle ERP, ensuring consistent data flow across systems.

With Drivestream’s expertise, the advertising firm transitioned to a modern financial system, significantly reducing manual effort, enhancing procurement efficiency, and enabling strategic decision-making. The transformation allowed the finance team to focus on core business activities while ensuring financial accuracy and transparency.

Empowering Finance Teams with Modern ERP Solutions

PROJECT INFORMATION

CHALLENGES

RESULTS & IMPACT

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