Transformation to Oracle ERP Cloud enables renewable energy company to realize a centralized ledger and automate fixed assets depreciation

Business Challenges

  • Lack of Integration in Tracking Tools – The finance team tracked all portfolio transactions through QuickBooks, while all fixed assets were tracked in Excel
  • Cumbersome Reporting – Difficult to generate Financial and Management Reports due to reporting limitations across the Chart of Accounts and various desired management views of the portfolio
  • Scalability – Existing systems could not meet new requirements of company going public

Solution

  • Oracle ERP Cloud – Implemented general ledger, accounts payable, accounts receivable, fixed assets, and cash management modules
  • Breakaway™ Methodology – Leveraged Peloton’s collaborative implementation methodology to ensure rapid learning and adoption throughout the implementation process
  • Peloton Managed Services – Client now leverages Peloton’s support program to augment its own small accounting team

Impact

  • Streamlined Customer Billing – Automation of emailing invoices to customers significantly reduced the time previously taken to create and send individual emails
  • Single Ledger and COA – Approximately 60 instances of QuickBooks were replaced with a centralized chart of accounts and single ledger
  • Automatic Depreciation – Fixed assets that were kept in an Excel spreadsheet are now in the cloud with depreciation running automatically each month
  • Security and Controls – Streamlined approval and review process for invoicing and payments