Driving Financial Transformation for a Leading $10 Billion Real Estate Firm
PROJECT INFORMATION
A major player in North American real estate, this $10 billion company operates and develops multifamily, collegiate, corporate, and senior housing properties, with a workforce of 18,000 employees. The company faced increasing operational complexity and the need for a more scalable, cohesive financial infrastructure.
CHALLENGES
The client’s financial operations were hindered by a fragmented legacy system that created inefficiencies and high costs across divisions. Key challenges included:
- Complex Legacy Systems: Outdated custom applications increased administrative burdens and were costly to maintain.
- Disparate Processes: Varied business processes across construction, property management, and renovations led to inefficiencies.
- Data Centralization Needs: Valuable historical data was siloed across multiple applications, limiting access and reporting capabilities.
RESULTS & IMPACT
Drivestream partnered with the client to implement Oracle ERP Cloud solutions, transforming finance operations to create a unified, scalable system.
Solution Highlights:
- Unified Chart of Accounts: Standardized accounting and reporting across divisions with an industry-compliant chart of accounts, providing consistency and compliance.
- Enhanced Financial Controls: Leveraged Oracle Subledger Accounting to implement flexible, rules-based accounting for better transparency and control.
- Centralized Procurement: Streamlined procurement with robust approval workflows, reducing risks and improving spend control.
- Project Lifecycle Visibility: Introduced workflows that connected interrelated transactions across project stages, enabling end-to-end project visibility.
- Automated Transactions: Supported over 1,000 entities with automated inter-company and intra-company transactions, optimizing financial operations and reducing manual work.
With Drivestream’s Oracle ERP Cloud implementation, the client successfully transitioned from a fragmented legacy setup to a cohesive, compliant, and flexible financial system. The transformation streamlined processes reduced administrative costs, and enabled real-time visibility into financial and project data, empowering leadership to make informed, data-driven decisions.
LOOKING FORWARD
The Oracle ERP Cloud setup positions this real estate leader for growth, with robust financial controls, flexible workflows, and enhanced data visibility that support long-term success.
Ready to optimize your finance operations? Contact Drivestream to learn how Oracle Cloud solutions can transform your organization.