|Exam Name||:||Oracle Financials Cloud: Receivables 2017 Implementation Essentials|
|Questions and Answers||:||80 Q & A|
|Updated On||:||May 20, 2019|
|PDF Download Mirror||:||1Z0-962 Brain Dump|
|Get Full Version||:||Pass4sure 1Z0-962 Full Version|
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Test Name : Oracle Financials Cloud: Receivables 2017 Implementation Essentials
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on the end of a hectic Inforum 2018 day one, the Infor comms team set me free to take a look at a client presentation of my identifying. My pick? "all of a sudden transform Your financial solution." As in:
find out how Flint Hills substances partnered with Infor and carried out CloudSuite Financials, Payables, Receivables, and international Ledger in just ten months.
Now, if you've examine my cloud ERP merits series, you understand i am not a large fan of speeding to go-live. sooner implementations aren't necessarily more advantageous implementations. That spoke of, avoiding lengthy, bloated ERP initiatives is a good thing.
The presentation changed into a mixed effort of the Flint Hills resources (FHR) CIO, lead programs analyst and business lead. Seeing a tech/biz team latest collectively is all the time a draw.
FHR is an American producer and marketer of fuels and chemical compounds with a sixty-yr historical past. they're owned by using Koch Industries, which made a tremendous funding in Infor in 2017, to the tune of $2 billion and change. Koch Industries is also in the midst of probably the most biggest - if no longer the greatest - Infor CloudSuite implementations on the planet (highlights were shared in the Inforum day one keynote).
despite the fact, FHR undertook their own option manner - after identifying to circulation on from Oracle Financials. You may argue that FHR's choice to put in force Infor CloudSuite Financials became a no-brainer given the Koch Industries investment in Infor, but that does not matter for my purposes right here. No count number which product you opt for, you might be now not getting results and not using a a success implementation - and FHR had some first rate information on a way to pull that off.Legacy ERP and the issue of extreme customization
FHR CIO Christopher Dahl explained that the pace of economic alternate changed into relocating sooner than their ERP equipment, which required a major improve each three to five years. Dahl noted that with every upgrade, they have been looking for a way to get off that cycle.
Dahl painted a picture IT managers are prevalent with: the burden of "run and maintain costs" on the one hand, versus the human capital that could be used on aspirational projects. As Dahl advised attendees:
In our case, in our corporation we're about 60 to sixty five percent of "run and preserve to preserve the lights on." Then the relaxation of it's tied to new innovation, disruption, experimentation, issues like that.
that point-to-innovate is probably bigger than many IT shops already. but Dahl wanted greater:
What if you may get out of the run and maintain prices, and free up that human advantage, which is a key theme of this convention? To be capable of go work on the experimentation and the brand new innovation - this is in fact what we tried to do once we searched for an alternative to our present economic techniques.
Dahl hit on an important theme for clients relocating to cloud ERP, be it financials, HCM, or manufacturing: time to standardize your techniques. Your admin customizations should go:
one of the vital things about a heritage of particularly custom-made, totally personalized [on-premise] options over time is that they are constructed to your work methods over twenty years. What we've got found is there isn't any precise secret sauce in our work practices, mainly when it comes to fiscal purposes. how you pay expenses through accounts payable. the way you reconcile your customary ledger. No super secret stuff there.
this is no longer a attainable approach anymore:
through the years, we've got convinced ourselves that we have been in reality decent at that, so we customized our utility to the nth degree to be capable of do this. Which supposed it basically slowed us down from being able to adopt new enterprise strategies sooner.
Barbara (Mikkelsen) McEachern, FHR company system Analyst, shed gentle on their application comparison:
with a purpose to find the right contemporary healthy, we went through an choice evaluation. We checked out Microsoft, Oracle, Infor, and a few others. With Infor, what we in reality favored changed into the navigation, the seem to be and suppose, the functionality that became purchasable, and what turned into coming in the future.Ten months to CloudSuite Financials go-are living
No extra "run and preserve"- time for a SaaS financials solution with "continuous delivery." however FHR additionally wanted a quick implementation. McEachern:
Our aim was in reality to implement a minimal attainable solution as immediately as possible, so we might have quicker time to cost and actually restrict our customizations and personalizations.
The FHR venture kicked off in can also 2017 - the go-reside happened in March 2018, ten months later. So what had been the keys? McEachern instructed attendees they determined now not to re-engineer their tactics. As a good deal as they may, they went for a "like for like" strategy, with an identical reporting capabilities and equivalent month-to-month time limits.
We is just not misled through the "minimum conceivable solution" language; FHR basically vital strong cloud financials. As Rachel Black, Accounting manager and CloudFinancials business project Lead informed us, FHR approaches transactions through seven hundred accounting entities.
That ability, on usual, they're processing virtually 2,000 bills payable invoices a day throughout 17,000 lenders. they're additionally receiving and applying money to a typical of 5,000 AR invoices a day, across pretty much 7,000 purchasers.
the brand new system isn't just transactional; finance clients can now operate 12 months-over-year evaluation inside one utility. Black had a vital piece of counsel that should still resonate with ERP groups: examine, test, verify. earlier than FHR did their data conversion, they practiced the conversion assorted instances:
We practiced both the extractions out of our legacy methods and the imports in the CS [CloudSuite] app. We discovered that being in a position to run through distinctive iterations of that definitely definitely helpful. We were in a position to flush out issues and also put chance mitigation concepts in region before we got to cutover weekend.
So what were the keys to success from the IT aspect? McEachern credited:
On the venture crew aspect, FHR didn't make the error of half-time business consumer involvement. they'd 5 discipline count consultants from the company aspect fully dedicated to the undertaking. equal on the IT facet, with 12 dedicated team members. putting the crew in the identical room paid off:
we all sat within the equal area, and this changed into very really helpful to assist with the collaboration throughout the whole undertaking.
When the project peaked, they doubled the IT materials. Crunch time became nonetheless crunch time - McEachern said they might have used much more IT supplies, but it become a problem at that element to onboard them. McEachern additionally mentioned that being an early adopter posed some challenges - there wasn't lots of CloudSuite Financials practicing material to utilize yet. New tools like Infor ION posed a studying curve: "a more robust practicing strategy, on our part, would had been a good suggestion."The wrap - preserve a startup mentality, and fight scope creep
As I listened to this team's story, a different key jumped out at me: when everybody takes initiative, managing change is an awful lot less difficult. McEachern spoke without delay to that:
We had been in reality challenged to ignore the proven fact that we had two decades of ancient techniques and historic records in our equipment, and definitely believe and behave like a startup. So, when you're a brand new startup business you simply go, you shouldn't have years of legacy to should drag behind you. We tried to retain that attitude in mind all over the whole task.
That helped to curb a notorious ERP problem: scope creep.
We did a really good job of managing our scope, and we saved the out-of-the-field performance the vast majority of the time.
i am looking forward to listening to greater from this group at next yr's Inforum. Why? as a result of they should be extra alongside the path of quantifying the business benefits from the mission. it be the advanced merits of cloud ERP that are the most mighty in the long run - together with the shift from an administrative to a extra strategic use of statistics, and the altering roles of those that work with that data. however for now, McEachern says the project is considered successful via FHR management, and that's job one.
One component I appreciated about Inforum's client shows: a number of time for Q/A.
I wish greater vendors would air these issues out on the keynote stage alongside their next-gen offerings. customers keep us all on our toes - correctly.
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