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PHONE HOTLINE: (703) 715-0150E-MAIL: info@drivestream.com
Contact an Expert
Online Retailer

Modernizing Finance for a Multinational Online Retail Leader

CLIENT
A global online retailer providing discounted access to designer labels with operations in five countries
PROJECT
Migrated from Oracle E-Business Suite to Oracle Financial Cloud, integrating global financial processes and aligning with the parent company
Challenge
Global operations, post-acquisition alignment, high infrastructure costs, and tight implementation deadlines
WHAT WE DID
Implemented Oracle Financial Cloud, standardized processes, redesigned chart of accounts, delivered country-specific training, and improved business analytics

PROJECT INFORMATION

The client is a North American online retailer specializing in providing insider access to top contemporary designer labels at significant discounts. With a global operations team distributed across the U.S., Ireland, Japan, India, and Canada, the client required a modern financial system to support their expanding operations and integration with their parent company following a recent acquisition.

CHALLENGES

The client faced several pressing challenges that necessitated a digital transformation:

  • Global Operations: Managing financial processes across a distributed team with operations in multiple countries.
  • Post-Acquisition Integration: Aligning financial operations with the parent company’s systems and standards.
  • Cost Management: Reducing application maintenance and infrastructure costs to optimize operational efficiency.
  • Time Constraints: Implementing the solution during a tight schedule imposed by peak shopping seasons.

RESULTS & IMPACT

Drivestream implemented Oracle Financial Cloud to modernize and streamline the client’s financial operations. The solution included modules such as General Ledger, Accounts Payable, Accounts Receivable, Fixed Assets, and Cash Management. Key elements of the project included:

  • Redesigned Chart of Accounts: Aligned with the parent company’s standards to facilitate integration.
  • Standardized Processes: Streamlined financial operations across global offices, enhancing efficiency and consistency.
  • Simplified Cloud Deployment: Consolidated multiple operating units to reduce complexity and deployment time.
  • Targeted Training: Developed country-specific training programs to ensure smooth adoption across various global locations.

The implementation of Oracle Financial Cloud transformed the client’s financial operations, establishing a robust foundation for integration with the parent company and encouraging adoption by other entities within the corporate group. The streamlined and standardized processes not only reduced maintenance costs but also improved overall efficiency and business analytics.

By using the migration to Oracle Financial Cloud as an opportunity to rethink and standardize workflows, the client achieved improved data accuracy and reporting capabilities, enabling better decision-making. Despite the tight timeline imposed by the peak shopping season, the project was delivered successfully, earning praise for its efficiency and impact.

Efficiency
Cost Savings
Talent Management

LOOKING FORWARD

The Oracle Financial Cloud implementation positions the client to seamlessly integrate with the parent company and scale its operations globally. With standardized processes, enhanced analytics, and reduced costs, the client is well-equipped to adapt to future challenges and capitalize on growth opportunities. The new financial systems provide the flexibility and efficiency required to maintain their leadership in the competitive online retail market.

Ready to transform your Finance operations? Contact Drivestream to explore how Oracle Cloud solutions can optimize your organization.
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