Oracle Treasury and Cash Management
Implementation at MOF,BAHRAIN
Background
The Ministry of Finance (MOF Bahrain), Bahrain is responsible for formulating andimplementing the financial policies of the Kingdom of Bahrain within the overallvision of the Bahrain Government.
The Ministry prepares the State General Budget in coordination with otherministries and public entities in a way that reflects the financial and economicobjectives of the Kingdom, particularly regarding improving living standards andincreasing levels of economic growth.
Name : Mr. Hari Prasad (Client PM)Email Id : [email protected] No : +973 39222189
Number of Employees: 2000Number of Users: 9
Project Outline
Modules Implemented
Oracle Financial Analytics Oracle Procurement and Spend
Analytics Oracle Human Resource
Analytics
Operating System :Hardware Platform: IBM – AIX
PlatformProject Kick Off Date :
19TH Jan’2014Project Go Live Date:
11th May’2014
Resource Details
Evosys Resource Details
Project Manager : 1
Functional Consultant : 1
Technical Consultant : 1
Client Resource Details
Project Manager:1
Project Leader and Coordinator:1
IT Key User:1
Business Needs
To track all Deposits and Debts made by MOF on behalf of Govt. of Bahrain
To eliminate passing manual JVs
Ease the process of reconciliation using Auto-Reco feature
Challenges Oracle Treasury altogether was the new module for Evosys as
well as for consultants. Lack of expertise on the same was the biggest hurdle to overcome.
Lack of support from Oracle as well. As they have very limited number of Treasury engineers with lack of proper knowledge about the module.
To map all Debts and Deposits with proper structure of Product and Portfolio in Oracle Treasury
Convincing National Bank of Bahrain to provide standard MT940 for auto-reconciliation
Data Migration for both open short term and open long term transactions (which was created on or after 1990)
Solutions
Proper mapping of each fund with Product and each Project with Portfolio.
Changing Cash Management SLA to meet business requirement.
Mapping MT940 for Auto-Reco
Proper architecture was created for Treasury accounting
Few customization were done to meet business needs
Business Benefits Delivered
Removal of passing manual JVs and manual error for Treasury transactions
Easy process of Auto-Reconciliation
Tracking of all Treasury positions at one platform
Tracking of all historical transactions
Flexible XML reports – which can be extracted in PDF, Excel and RTF
No needs for maintaining numerous excel files.
Value Addition
Quality and proper deliverables
Solution with proper explanation
Proper follow up
Completing Project on time
Critical Success Factors
Numerous changes on custom reports done on a timely basis
To avoid integration with bank for automatic Payments
To avoid any customization for Auto-Reco process
Milestones
Project Plan and Charter: 28th Jan’14
BP80 & RD50: 25TH Feb’14
BR100: 26TH Mar’14
Completion of User Training: 23rd Apr’14
Go Live: 11th May’14
Project Completion: 22nd May’14
Questions?
Thank You Global HeadquarterEvolutionary Systems Pvt. Ltd.11th floor, Kataria Arcade,Beside Adani Vidya Mandir School,Behind ADANI CNG Pump,S. G. Highway,Makarba – Ahmedabad – 380054.Tel : +91 79 30233300, 30233301Fax : +91 79 30233399,
Follow us on -
ME HeadquarterEvolutionary Systems Arabia Fz LLC112, Building 11, Dubai Internet City,PO Box 500830, Dubai, UAEBoard: +9714-4380181Fax: +9714-4380180
U.K./ Europe Headquarter400 Thames Valley Park DriveThames Valley ParkReading ,RG6 1PTUnited Kingdom.Tele : +44 (0) 01189 637 586Fax : +44 (0) 0118 9637 585
E-mail us at:
www.evosysglobal.com
http://www.facebook.com/Evosys
http://www.linkedin.com/company/evosys
http://twitter.com/evosysoracle