OIC Integrations between Concur-Oracle cloud for Large IT Services Company
CLIENT OVERVIEW
The client is a rapidly growing Indian IT services provider with over 31,870 employees across 60+ offices in 28 countries, aimed to automate its employee expense management processes. With Oracle Cloud implemented for ERP, the client sought to seamlessly integrate employee expenses (travel and accommodation) into their Accounts Payable (AP) system.
Challenges:
- Complex integration between Concur and Oracle Fusion ERP
- Ensuring timely and accurate financial handling of employee expenses
- Managing multi-currency advances effectively
- Need for a scalable, robust automation system
- Compliance issues in handling financial processes
Solution:
- Automated integration between Concur and Oracle Fusion GL/AP, for accurate travel advances, expense claims, and vendor invoices.
- Streamlined management of foreign currency advances, with seamless adjustments in Oracle Fusion GL and AP.
- Eliminated manual data entry by automating the approval process for expenses and payments.
- Integrated approved expense reports and vendor invoices into Fusion AP for timely payments.
- Improved tracking and reconciliation of advances, expenses, and refunds. (via Concur and Fusion AP)
Benefits:
- Increased Efficiency: Automated integration between Concur and Oracle Fusion reduced processing time for travel advances, expense claims, and vendor invoices.
- Error Reduction: Reduced errors by eliminating manual data entry and improving foreign currency handling.
- Improved Compliance: Streamlined reconciliation and enhanced tracking improved financial transparency, ensuring better compliance with internal and regulatory financial processes.
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