INFORMATION INDEPTH NEWSLETTERS
Midsize Edition
March 2009

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Oracle and Wells Fargo Announce Fast, Affordable Solution for Automating Payments
As businesses search for new ways to streamline operations and improve margins, accounts payable and accounts receivable functions are under increased scrutiny for their reliance on costly, labor-intensive, and inefficient processes.

Automation of these processes by integration with bank services often requires a custom integration that can take two to six months to implement—and at considerable expense to the business. In addition, these projects place a significant burden on limited IT resources due to development and testing as well as ongoing support and maintenance.

Introducing the Wells Fargo Adapter
The Wells Fargo Adapter—which integrates Wells Fargo’s treasury management services with Oracle E-Business Suite financial applications—significantly lowers these barriers to automation. With payment automation, customers can achieve

  • Reduced per-transaction costs
  • Increased productivity
  • Improved cash flow management
  • Enhanced relationships with customers and trading partners
  • Improved regulatory visibility and control
Rapid Implementation and Integration
The Wells Fargo Adapter—the first of its kind in the industry—offers significant benefits to Oracle and Wells Fargo customers. Installation and integration testing for the Wells Fargo Adapter can generally be completed in less than a week, dramatically reducing the cost of the project and its impact on IT resources.

And the adapter is affordably priced, making it a viable solution for midsize organizations.

Potentially Dramatic Savings
Savings achieved from leveraging the Wells Fargo Adapter can be dramatic. Case studies have shown that companies that have achieved automation through outsourcing check printing and migrating their suppliers to receive electronic payments can reduce their “all-in” payments costs by up to 75 percent.

In addition, the risk of fraud associated with manual payment processes and onsite storage of check stock is eliminated. And resources that are freed up from these manual processes can be refocused on more strategic, value-add activities.

The Wells Fargo Adapter is currently available for Oracle E-Business Suite 11i, with versions for E-Business Suite 12 and JD Edwards EnterpriseOne 8.12 expected to be available in the near future.

For more information on the Wells Fargo Adapter, visit the Oracle site and Wells Fargo Web sites.







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