Oasis Investment Company Streamlines Yearly and Monthly Financial Consolidations—Improves Reporting, Tracking, Security, and Audit Transparency
 
 

Oasis Investment Company Streamlines Yearly and Monthly Financial Consolidations—Improves Reporting, Tracking, Security, and Audit Transparency

Oasis Investment Company—the holding company of the Al Shirawi Group—is one of the largest conglomerates for the manufacturing, engineering, trading, marketing, distribution, contracting, and service industries in the Arabian Gulf. With headquarters in Dubai, United Arab Emirates, Oasis Investment Company includes 35 business entities, many ranking among the Middle East’s largest companies.

The company’s products and services include steel and metal fabrication, engineering services, contracting for air-conditioning and refrigeration, water-proofing products and services, interior decoration for commercial complexes and showrooms, printing, plastics manufacturing, technical services, as well as manufacturing electronics and computers, trucks and heavy engineering products, and food products.

 
 

 
 

Challenges

A word from Oasis Investment Company

  • “Oracle Fusion Financials has given all 35 of our major business units great confidence in our accounting hub―increasing process efficiency, transforming reporting, and instilling solid reliability into all of our financial actions.” ‒ Madhukar Nath Chaturvedi, IT Director, Oasis Investment Company

  • Consolidate financial information across 35 diverse business units, ranging from metal fabrication plants to printing facilities, to radically reduce the time for closing monthly and annual accounts across the group
  • Automate financial report management and accelerate financial visibility to drive more agile and informed decision-making across a heterogeneous group with many diverse businesses and reporting requirements
  • Invoke multiple security access levels for financial reporting across the group through stronger authentication processes and identity management, and enhanced data transfer encryption
  • Provide authorized users with universal mobile device connectivity to Oracle E-Business Suite and Oracle Fusion Applications for more a flexible, remote-worker platform

Solutions

  • Deployed Oracle Fusion Financials to consolidate financial functions across 35 business units in manufacturing and connected industries, such as water-proofing, printing, and electronics, accelerating time required for account closings from up to three weeks—or more than 200 worker days each month—to a rolling process that is completed daily
  • Integrated Oracle Fusion Accounting Hub reports with existing Oracle E-Business Suite applications, providing full financial visibility across each of the 35 diverse business units―spanning manufacturing, engineering, trading, marketing, distribution, contracting and service industries
  • Drove more informed C-level and financial management’s decisions with real-time dashboards that replaced static spreadsheets
  • Enabled real-time tracking of sales targets for each business unit against actual sales activities and expenses and achieved real-time monitoring of active market performance―for example steel or plastics revenue activity―through Oracle Fusion Financials, providing competitive intelligence and rapid, strategic decision-making
  • Defined multiple levels of secure access for 100 Oracle Fusion Accounting Hub users and 750 Oracle ERP applications users with Oracle Identity Management and Oracle Access Manager
  • Ascribed granular levels of user functionality and responsibility, mapped to each user’s needs across business units―ensuring that employees can access the data they need to do their jobs, while ensuring security
  • Used Oracle Identity Management single sign-on and Oracle WebLogic Suite platform to ensure secure, scalable local and remote data access, additional data encryption from clients to servers, and full compliance with the ISO 37001 information security code for policy practices

Why Oracle

After assessing Oracle Fusion Applications, Oasis Investment Company determined them to be the only natural fit for its 35 business units and existing technology footprint. Oracle also offered a complete technology stack and a strong track record of integrity and successful deployments in the region.

“Oracle has a great reputation, good solutions, and an excellent image, regionally,” said Madhukar Nath Chaturvedi, IT director, Oasis Investment Company. “Oracle created a personal project management team that checked in with us twice weekly and updated us hourly during critical deployments. Oracle’s support, project management, and technical know-how are second to none.”

Implementation Process

Oasis Investment Company mandated a fixed-term deployment and budget. The company began deployment in late February 2012 and completed the initiative in mid-July 2012, on time and on budget. The company trained 55 users on Oracle Fusion Financials for four days, and then it used knowledge transfer to train all other finance managers and administrators, streamlining deployment. 

Partner

Infosys, an Oracle Diamond Partner, spearheaded and managed the Oracle Fusion Application deployment process. Oasis Investment Company selected Infosys for its unrivalled Oracle Fusion Application specialization and implementation experience in the region.

“Infosys is very knowledgeable about Oracle’s robust solutions. The team demonstrated great expertise in integrating our existing technology footprint with Oracle Fusion Financials, the only financial management solution capable of seamlessly improving our efficiency, decision-making, and ability to scale and innovate,” Chaturvedi said. “The performance of Oracle’s technology has been excellent. Our budgets and schedules are fixed; we have an excellent working relationship, service and support with Infosys, and we are very happy with our partner choice.”