REDWOOD SHORES, Calif., Aug. 8,
2016 /PRNewswire/ -- Asahi Refining, the world's leading
provider of precious metal assaying, refining, and bullion
products, selected Oracle Cloud Applications and Oracle Cloud
Platform to streamline its procurement and financial processes to
get a more comprehensive and accurate picture of its financials to
provide better visibility into the business. By moving to the
cloud, Asahi Refining has been able to shift its full attention to
its core business of refining gold and silver and accelerate
business growth.
The ongoing digitization of the refining industry means that
organizations need an integrated financial platform to leverage
data insights that can help evolve their business models and retain
their competitive advantage. To address this market shift, Asahi
Refining needed to overhaul its legacy enterprise resource planning
(ERP) system, which was difficult to maintain, had limited
reporting capabilities and contained fragmented data spread across
various silos. The company needed a modern, integrated system to
gain the insights needed for swift approvals and decision
making.
"In order to update our outdated and over-extended IT
infrastructure, we needed to move our financials to a centralized
and secure environment," said Kevin
Braddy, IT director, Asahi Refining. "The Oracle ERP Cloud
gives us real-time visibility into finance operations across the
company and helps drive efficiencies across our financial
processes. With this accurate financial information easily at hand,
we are able to focus on growing our business."
Using the Oracle ERP Cloud and Oracle Cloud Platform, Asahi
Refining was able to replace its legacy ERP environment with an
integrated cloud-based financial system. Within three months, Asahi
Refining was able to fully implement the solution and transition to
Oracle Self-Service Procurement Cloud, Oracle Financials Cloud, and
Oracle Purchasing Cloud. The company now has a highly
accurate, 360-degree view of its financial systems and operations.
In addition, Asahi Refining was able to standardize reporting and
reduce month-end reporting from a week to just three days, while
increasing its efficiency in processing receivable
transactions.
"We are happy to be working with Asahi Refining to help them
transform their business with the Oracle Cloud," said Amit Zavery, senior vice president, cloud
platform and integration, Oracle. "Moving from legacy systems
to the cloud enabled Asahi Refining to modernize its technology
systems, improving visibility into the business and ultimately
accelerating growth and increasing efficiency."
Asahi Refining used the Oracle Java Cloud and Oracle Database
Cloud to seamlessly integrate its Oracle ERP Cloud applications
with its legacy ERP system and third-party payroll applications, as
well as to validate all data coming into the Oracle ERP Cloud from
those legacy applications. Additionally, Asahi Refining has been
able to lower its total cost-of-ownership by moving to the cloud,
which the company can now leverage to realize additional business
efficiencies in the future.
The Oracle Cloud runs in 19 data centers around the world and
supports 70+ million users and more than 34 billion transactions
each day. With the Oracle Cloud, Oracle delivers the industry's
broadest suite of enterprise-grade cloud services, including
Software as a Service (SaaS), Platform as a Service (PaaS),
Infrastructure as a Service (IaaS), and Data as a Service
(DaaS).
Additional Information
- About Asahi Refining
- Oracle Cloud Platform
- Oracle ERP Cloud
- Connect with Oracle Cloud on Facebook and Twitter
About Oracle
Oracle offers a comprehensive and fully
integrated stack of cloud applications and platform services. For
more information about Oracle (NYSE:ORCL),
visit oracle.com.
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SOURCE Oracle