Improved financial and daily business reporting for a US Airline
A leading airline in the United States sought a financial transformation program. The key objectives of the program were implementing best practices, improving the quality of financial information (information integration), reducing costs, and increasing information accessibility and efficiencies.
Infosys successfully implemented Oracle E-Business Suite 18.104.22.168 for Account to Report (General Ledger and Financial Reporting) business process and Daily Business Intelligence for finance along with Oracle Discoverer.
The airline had many outdated and loosely coupled applications and several interfaces. It resulted in increased cost of ownership and failure to adopt best practices. In addition, there was no mechanism to analyze financial information.
Infosys had to address specific challenges during implementation:
- Users at multiple locations with no exposure to Oracle E-Business Suite
- Changes to existing business processes
- Balancing user expectations with data security and performance for new tools
- Simplify and automate Sarbanes-Oxley (SOX) compliance process while giving managers visibility into financial data
- Maintaining multiple charts of accounts in parallel
- Stringent SLAs on cost, time and quality, and customer satisfaction
The role of Infosys
Infosys implemented General Ledger and Financial Reporting processes with Oracle E-Business Suite 22.214.171.124. We adopted world-class processes and implemented best practices to increase efficiency and improve workflow. We defined and deployed new Chart of Accounts and were actively involved in processes such as requirements gathering, fit-gap analysis, build and test customizations, automated load testing, support UAT and key user training, and post-production support.
Infosys helped the airline formulate and implement new business processes and desk procedures. We supported user training and facilitated SOX and audit compliance. In addition, we provided our expertise in newer technologies and minimized customizations by focusing on process changes.
Our approach realized several benefits:
- Reduced SOX compliance risk and audit costs, and reduced monthly closure process time
- Paperless solution for Analytical Corporate Expense Reporting
- New, flexible, and robust Chart of Account
- Information availability and integration
- Comprehensive program management tool that can be reused for future programs