REDWOOD SHORES, CA — (Marketwired) — 07/30/13 — Oracle (NYSE: ORCL)
With a rapidly changing global energy industry, power producers are under more pressure than ever to increase performance, reduce costs and enhance decision making. To stay at the forefront of the industry amidst all these changes, Canadian-based power producer, wanted to redesign its core financial, human resource and supply chain processes to drive efficiencies and costs savings to help manage its 15 plants around North America. As part of those efforts it upgraded to , to get to the current release and to address a significant change in charted accounts along with redesigning six of its core business processes. Now, Capital Power can access a suite of modern business applications that enable it to streamline business processes and reduce costs.
To help minimize customizations and drive efficiencies and cost savings, , has upgraded to the latest release .
Capital Power originally expected to achieve an internal rate of return of 12.5 percent from its upgrade. Due to additional savings that were found during the process, the actual rate of return was 25.2 percent(i).
With significant changes planned to its core business processes, Capital Power needed to upgrade to a more comprehensive and integrated suite of modern business applications that could to be more efficient across its financial, human resource and supply chain processes.
Completed on time and under budget, Capital Power leveraged the Oracle E-Business Suite 12.1 to help redesign its business processes and create a standardized and automated IT environment that helped reduce its system customizations by 90 percent over its legacy system and simplified application maintenance.
Capital Power leveraged (HCM) to help streamline and centralize benefits and payroll in order to better respond to employee and staffing needs. has further increased efficiencies in HR processes by reducing manual administrative functions and empowering employees to update and maintain their own information.
To help optimize financial operations and standardize internal controls, Capital Power used modules, including , , , , and , to improve financial reporting accuracy and accelerate financial close.
In addition, by using suite of applications, including , Capital Power has been able to reduce overall supply chain costs by streamlining the Procure-to-Pay process for employees. Capital Power expanded its application footprint after moving to the Oracle E-Business Suite 12.1 by implementing without customizations. Oracle iSupplier Portal provides suppliers with quick direct system access so that they can receive purchase orders, send invoices, check payment status and maintain their company profile details, significantly improving efficiency and accuracy for supplier and buyer.
In recognition of the success Capital Power has achieved with the Oracle E-Business Suite 12.1, the company was recently awarded the 2013 Project of the Year by the .
In addition, Capital Power implemented Oracle Business Intelligence Enterprise Edition (OBIEE) 11g for financial analytics, project analytics, and procure and spend analytics. OBIEE provides executives with a single dashboard view of the company-s health and also enables all employees to view near real time information about financials, supply chain, and projects in a flexible, intuitive and individually configured way.
OBIEE eliminates a massive amount of spreadsheet-based work, enables managers a near-real time view on budgets versus actuals, and provides accounts payable and accounts receivable staff easy access to the data needed to do their jobs.
“We needed an automated and flexible business platform to increase efficiencies and establish a solid foundation as we redesigned a number of our core business processes. With the Oracle E-Business Suite 12.1, we-ve dramatically improved efficiencies and performance across our financial, human resource and supply chain processes, giving us a competitive advantage. We believe that over time these improvements will lead to significant cost savings,” said Darryl Vleeming, Director, IS and CIO, Capital Power. “One of the goals of the project was to beat our competitor to the market when releasing quarterly results. We previously had never done that. This quarter we beat them to the market by four days, which is a massive amount of time when talking about the tight window that there is to release quarterly results.”
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(i) Internal rate of return was calculated on a 10 year period using net present value.
Danielle Cormier-Smith
Oracle
+1.610.766.3463
Simon Jones
Blanc & Otus
+1.415.856.5155
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