DXC Enables the Go Live of Oracle ERP for QIA
Client:
The Qatar Investment AuthorityChallenge:
- To increase the ability to undertake control and monitoring of expenditure in the departments
- To increase internal control to prevent and detect potential and actual deviations from the standard process
Solution:
- Addressed all of the QIA & QH needs by implementing Oracle Finance & Procurement modules on top of already running HR & Payroll systems
Results:
- Finance and Procurement systems are on the same platform as HR & Payroll
- Seemless integration with all invoices, payments and employee expenses
Oracle ERP Helps QIA to improve internal approval processes, enhance inventory visibility, effective asset tracking and increased efficiency & accurate financial recording along with streamlined employee expense recording.
The Customer: The Qatar Investment Authority is Qatar's sovereign wealth fund, specializing in domestic and foreign investment. The QIA was founded by the State of Qatar in 2005 to strengthen the country's economy by diversifying into new asset classes.
Qatar Holding LLC (QH) is a global investment house established in 2006, founded by the Qatar Investment Authority (QIA) and licensed by the Qatar Financial Center Authority (QFCA) invests internationally and locally in strategic private and public equity as well as in other direct investments.
Qatar Holdings strives to achieve steady long term returns on assets to benefit the State of Qatar and to diversify its economy.
The Challenges
QIA & QH own a significant number of Entities established in many jurisdiction around the world.
QIA and QH needs an integrated IT service system,
- To increase the ability to undertake control and monitoring of expenditure in the departments.
- To increase the ability to access information on financial and operational performance.
- To increase internal control to prevent and detect potential and actual deviations from the standard process.
- To increase the ability to access information on the QIA’s cash position.
- To increase the ability to access information on financial performance.
- To improve planning through integrated budget preparation, execution and monitoring
- To provide the ability to understand the costs of groups of activities and tasks.
- To increase the ability to demonstrate accountability to different QIA stakeholders.
The Solutions
We addressed all of the QIA & QH needs by implementing Oracle Finance & Procurement modules on top of already running HR & Payroll systems.
DXC provided Package Based Application modules to achieve QIA’s business needs
- General Ledger and Reporting
- Budgeting
- Purchasing
- Payment/Payables
- Cash Management
- Fixed Asset Management
- Inventory/ Stock Control
The Results
- Finance and Procurement systems are on the same platform as HR & Payroll
- Seem less integration with all invoices, payments and employee expenses
- Matured and engineered online approval process for all important and legal documents