Helping a commodity trading company build their global strategic accounting platform

The challenge

• Mobilise the company’s global strategic accounting platform based on Oracle’s Cloud Suite of products – Accounting Hub, Financials, Purchasing and Account Reconciliation Cloud service for a geographic imprint that spreads across more than 70 countries
• Extend the Oracle footprint to the company’s retail and rack oil business and replace legacy platforms with an integrated solution by bringing in the Inventory and supply-chain execution suite
• Facilitate the Oracle Cloud solution footprint across all of their business divisions and locations
• Establish continuous system monitoring and application management to support optimal performance and data security

Our solution

By collaborating with Deloitte Argentina, Mexico, and China, Deloitte India provided application management support across more than 40 countries and three time zones.

Highlights of our solution:

• Designing a strategic platform with the ability for multi-GAAP, multi FY, multi-currency and multi Chart of Account
• Mapping their Procure-to-Pay and Record-To-Report processes to develop a client print
• Design integration with over 15 upstream and downstream systems for a seamlessly integrated environment
• Developing and executing a comprehensive data migration strategy to replace legacy accounting/ERP platforms
• Delivering TLS solutions for LATAM, China, US, and India operations
• Design inventory and supply-chain solution for retail and rack oil business

The outcomes

With Deloitte’s support, the company successfully implemented a unified Oracle Cloud platform that now supports its core business operations globally.

Key impacts included:

• Global template design: Completion of the company’s global Chart of Accounts, multi-GAAP enterprise structure, and specifications to integrate strategic trading platforms with Oracle financial modules.
• Single, standardised system: One accounting system for all legal entities/geographies with centrally controlled period and access management.
• Enhanced financial reporting: Direct production of trial balances from the accounting system to meet group, statutory, and audit requirements.
• Improved system reliability: Streamlined Oracle Cloud support helped improve system availability and operational efficiency, ensuring smooth day-to-day business operations.
  • Strengthened monitoring and support: A structured monitoring and alerting framework was established, enabling quicker issue detection and resolution, thereby minimising disruptions.
• Access to global expertise: The company leveraged Deloitte’s global Oracle support network to adopt best practices and meet regulatory requirements across multiple jurisdictions.