Vesta cuts financial reporting costs by 78% in Oracle Cloud
The real estate company integrates planning, scheduling, and invoicing systems, making it easier to forecast operating expenditures and cash flow.
“With Oracle's technology, we have found solutions to the challenges that we encountered.”
Since its IPO in 2012, Vesta Real Estate has been adding about 3 million square feet of industrial property each year, winning over manufacturers, warehouse operators, and distributors by offering them customized building services to meet their work requirements. But tracking a portfolio of 200-plus customized properties pushed Vesta’s workforce to the brink.
With Oracle Cloud applications, Vesta has consolidated multiple systems for planning, scheduling, and invoicing client contracts on a single platform, making it much easier to forecast operating expenditures and calculate expected cash flow.
The technology to support our digital transformation and carry out Vesta's overall strategy is based on Oracle Cloud.
Why Vesta Real Estate Chose Oracle
Vesta looked at other platforms before moving to Oracle Cloud ERP, Cloud HCM, Cloud CX, and Primavera Unifier, but the company found other applications were geared more toward collecting data rather than analyzing it. Vesta also found Oracle CX Cloud best supported Vesta’s need to capture extensive profile information about each customer, so it can customize each of its buildings to fit those needs. Oracle also let Vesta easily connect its enterprise applications with its project management tool. And, Oracle Cloud let Vesta build extensions to customize its applications, while still allowing for frequent cloud-based feature updates without losing or breaking those customizations.
By using Oracle Cloud ERP, Vesta has reduced the cost of preparing pipeline, financial, and lease portfolio reports by 78%, while cutting the time it takes to create these reports from 45 days to just seconds. Oracle Cloud ERP also helps Vesta speed up its processes for sending invoices and processing payments. With Oracle Cloud CX, Vesta can gather specific requirements about each customer’s intended use, and thereby provide custom services, equipment, and facilities.
Vesta Real Estate selected partner GAEA for the implementation of Primavera Unifier.