KU Children’s Services cuts costs, boosts revenue with Oracle
The nonprofit closes its books 50% faster and saves significant maintenance costs with Oracle Cloud Financials.
Business challenges
Reduce complexity and lower maintenance costs by moving to a financial cloud solution instead of paying multiple vendors to manage and update on-premises systems
Gain visibility into business performance with a single source of financial truth, making it easier to run analysis, such as the profitability of each childcare center
Free up time for finance staff to focus on understanding the numbers rather than building spreadsheets
Why KU Children’s Services Chose Oracle
—Ajay Patankar, Systems Accountant, KU Children’s Services
Results
With support from Oracle and Oracle Platinum Partner Evolutionary Systems Pvt., Ltd. (Evosys), KU successfully migrated the legacy Oracle E-Business Suite to Oracle ERP Cloud in just three months.
“Oracle was with us every step of the way, enabling us to smoothly transition from the on-premises environment to Oracle ERP Cloud. Even after implementation, we got a dedicated Oracle Customer Success Manager to meet with me once a month to check our needs,” Patankar said.
Cut significant maintenance costs by upgrading to Oracle Enterprise Resource Planning (ERP) Cloud and eliminating the need to pay multiple vendors to manage financial systems
Halved month-end closing time—from 10 days to 5 days—by seamlessly integrating multiple third-party systems with Oracle ERP Cloud and enabling finance users to quickly process transactions, such as invoices payments, through a single interface
Reduced the number of manual journals to create each month by 40%—from 50 to just 30—by linking data from DM1 to Oracle ERP Cloud and automatically generating and posting journals, such as payroll and prepayment, to the general ledger
Enabled finance staff to spend 70% more time on analysis instead of crunching the numbers by giving users access to live financial data via intuitive dashboards
Gained greater visibility into spending, such as lease payment for childcare centers, and supported better decisions to control costs by using Oracle ERP Cloud to analyze data based on multiple dimensions or drilldown to expanded level of details
Ensured the accuracy of balance sheet reconciliation by using Oracle SmartView for Office to view, import, manipulate, and share data from Oracle ERP Cloud in the same interface as Microsoft Excel
Partners
“Thanks to Evosys’ expertise and experience in Oracle ERP Cloud, we rolled out the cloud solution across different locations within the required timeline,” Patankar said.