Author: Simon Shorthose

Again, we’re delighted to welcome Simon Shorthose, MD Readsoft UK,  as a guest contributor Many organisations are currently operating on Oracle Applications Release 12 or are planning to do so in the near future.  With Release 12, Oracle boasts over 2300 new features over Oracle 11i, with over 300 in Oracle Financials. The application has been geared towards enhanced support for shared services, increased operational efficiency and flexibility, faster and simpler period end processing and timely and simplified reporting. For the finance function, the requirement to eliminate inefficiencies in purchase to pay (P2P) and order to cash (O2C) processes in a central concern. They need better process visibility and compliance; better cycle time; and want to see continual cost reduction.

We're delighted to welcome Simon Shorthose, MD Readsoft UK,  as a guest contributor If you had to choose one overarching theme that sums up business in recent years it would be the focus on cost reduction. And rightly so, cutting the flab and improving the bottom line, makes sound business sense, and there are many tools in the market that have helped organisations become leaner and more cost effective. The problem is that whilst achieving cost reduction is a valuable activity in the short term, it invariably fails to quantify original costs or provide the capability to conduct on-going monitoring of processes or give a route to future growth. This is why operational feedback on how a business is performing is so important if a company is to keep ‘on track’ and become smarter, more agile and better aligned with strategies that drive improved business practice, customer relationships and profit.