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Construtora Norberto Odebrecht S.A. (CNO), which forms part of the Organização Odebrecht holding company, is a Brazilian engineering and civil construction company. It is the largest company in its sector in Latin America, the second-largest Brazilian multinational, and one of the 25 largest construction companies worldwide.
Due to the variable resources needs the treasury would have to make available for the 100 projects it manages simultaneously, CNO maintained a high cash-on-hand safety margin to avoid negative balances. With Oracle Application Express, the construction company developed tools to expedite funding requests and approvals, enabling it to invest funds that were parked in its cash account, ultimately yielding up to $13,000 per day. In addition, Oracle Application Express enabled CNO to reduce report consolidation and daily account closing time, providing a comprehensive and timely view of construction project costs and profitability to drive strategic decisions.
CNO chose Oracle Application Express for its user friendliness and to facilitate integration between its Oracle E-Business Suite and legacy management and treasury tools.
“We ensured that the more than 200 screens created in Oracle Application Express so far are fed automatically through the interface with the other solutions involved in the funding requests and approvals process, such as ERP and treasury tools. Thus, we can use the database―logins, company name, bank data, and more―already available in Oracle E-Business Suite, guaranteeing data reliability and streamlining business process,” said Leandro Edi da Silva, Development Team Leader, Construtora Norberto Odebrecht S.A.