About our client
A leading Saudi-based operations and maintenance services provider partnered with us to implement Oracle Fusion ERP and modernize its project management, financial operations, and tax compliance processes.
Challenges
- Project accounting restricted to general ledger entries, with no detailed visibility into employee time, associated costs, or revenue at the project level.
- Absence of a structured system for tracking employee working hours led to inaccurate cost allocation and inefficiencies in billing cycles.
- Revenue recognition and invoicing processes were heavily manual, resulting in delays and inconsistencies that impacted financial performance.
- The organization was not compliant with ZATCA e-invoicing regulations, lacking capabilities for invoice validation and QR code generation.
Solution
- Implemented Oracle fusion Projects module to enable complete tracking of project costs and revenues, providing real-time financial insights and accountability.
- Enabled Timesheet functionality in Fusion Projects allow employees to log hours against specific projects, enabling accurate labor cost allocation and improving resource visibility.
- Introduced Oracle Project Contracts, automating the revenue recognition process based on project milestones and enabling automatic invoice creation in Oracle Receivables.
- Integrated Oracle Fusion ERP with ZATCA’s e-invoicing system, ensuring all AR invoices are validated and include QR codes, meeting the mandatory compliance requirements.
Value Delivered
- 100% automation in capturing employee working hours, significantly improving cost tracking and project-level financial accuracy.
- 60% reduction in invoice processing time through automated billing, accelerating cash flow and reducing operational bottlenecks.
- Improved the accuracy of revenue recognition by 75%, using milestone-based automation that aligned with accounting best practices and compliance needs.
- Attained full compliance with ZATCA’s e-invoicing regulations, eliminating manual invoice validation steps and ensuring seamless tax reporting and audit readiness.
