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Oracle EBS solution experts assess & upgrade system, increases forecasting accuracy & visibility for budgeting while exceeding customization requirements.
Challenge:
Irvine Ranch Water District (IRWD), an independent special district serving Central Orange County, was in the process of upgrading its existing Oracle systems. IRWD was live on 11.5.10 and was upgrading to 12.2.5, using Oracle Grants, Financials, and Procurement, and a 3rd party system for tracking the fiscal year budget process. As part of the project, IRWD was replacing Oracle Grants with Oracle Project Costing, Planning, and Control. The company planned on using the Oracle Project Suite to manage all project and fiscal year capital budget cycles. However, a new operating unit would need to be implemented due to the replacement of Grants.
To eradicate the outdated cumbersome processes, IRWD needed an expert Oracle partner that would help them meet several custom business requirements - notably to manage and track funding. In addition, they wanted to replace their custom process for actual labor costing with an Oracle integration between Oracle Time and Labor (OTL), Payroll, and Projects.
Solution:
Project Partners was selected to provide an assessment to determine best practice, upgrade the Projects Suite and OTL modules, and develop a custom solution at the project level to track the improvement district and the fund benefitted by the project. Upon development, Project Partners established 1 operating unit which included 1,000 projects, 2 primary costing users, and ~50 program, planning & control (PP&C) users. Multiple enhancements were also made to Oracle Projects, Oracle Subledger Accounting, and Oracle Time and Labor.
In addition, Project Partners developed several customizations:
- An accounting solution for the business improvement district and fund patters cash account impacts using Oracle Subledger Accounting.
- A financial plan approval solution, including pre-validation of information, post processing steps to create additional plan versions, submit concurrent programs and update project status.
- A program to mass baseline specific versions of the financial plan during the budget approval cycle.
- Multiple time entry rules to accommodate IRWD's unique and detailed labor tracking requirements.
Outcome:
IRWD's automated financial processes resulted in improved visibility into fiscal year budgets, streamlined operations, and increased system functionality.
- 42% process performance increase from replacing Grants and recognition of cash journal entries.
- More than 30% reduction in accounting cycle-times.
- 27% increase in labor cost forecast accuracy by project and task from an automatic recognition of actual labor costs.
- 32% increase of productivity when completing annual fiscal budgeting.
