Case Study
Leading Life Sciences Company – Financial and Procurement Modernization with Oracle Fusion Cloud
Download Case StudyIndustry: Biotechnology Research
About the Client
A biotechnology research organization advancing antiviral therapies to improve the lives of patients worldwide. As part of its digital modernization initiative, the company sought to enhance the efficiency, accuracy, and transparency of its financial and procurement operations.
Business Challenge
The Client was facing significant operational inefficiencies in its finance and procurement functions. With disconnected systems and fragmented workflows, the company’s teams spent excessive time navigating manual processes and correcting errors, diverting attention from mission-critical R&D efforts.
Key Challenges included:
- Disrupted Daily Operations: Disconnected financial and procurement processes caused fragmented workflows. Employees wasted time on manual tasks and system navigation, fixing errors. This reduced productivity and diverted resources from key activities like R&D.
- Inefficient Reporting: Creating timely, accurate financial and procurement reports was difficult due to siloed data and manual consolidation. This lack of quick insights hindered informed decision-making and trend identification.
- Heightened Compliance Risks: Inefficient processes and a lack of transparent, accurate reporting created compliance vulnerabilities. Difficulty tracking financial and procurement activities increased the risk of penalties and reputational damage.
Results and Impact
To address these business needs, the company partnered with Jade Global to enhance and support its Oracle Fusion Cloud platform with targeted improvements in usability, reporting, and compliance controls
Key Solutions included:
- Optimized Business Processes: Jade's expertise in Oracle Fusion Cloud delivered smoother and more efficient financial and procurement operations. The implementation of a user-friendly Oracle New Redwood GUI for Procurement, coupled with AI features and a streamlined supplier punchout, removed bottlenecks and data inconsistencies.
- Accelerated Approvals & Enhanced Management Reporting: By configuring optimized Requisition Approval routing rules and leveraging automated e-notifications within the system, approval cycle times were significantly reduced. Complementary HCM cleanup activities and the activation of RUI Profiles further enhanced system usability.
- Streamlined Audit Reporting & Stronger Compliance: To facilitate efficient business audits, comparative Income statement reports were developed for Profit and Loss accounts. Centralized data eased audits and improved compliance through standardized processes.
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