Oracle Treasury and Cash Management

Implementation at MOF,BAHRAIN

Background

The Ministry of Finance (MOF Bahrain), Bahrain is responsible for formulating andimplementing the financial policies of the Kingdom of Bahrain within the overallvision of the Bahrain Government.

The Ministry prepares the State General Budget in coordination with otherministries and public entities in a way that reflects the financial and economicobjectives of the Kingdom, particularly regarding improving living standards andincreasing levels of economic growth.

Name : Mr. Hari Prasad (Client PM)Email Id : hprasad@mof.gov.bhContact No : +973 39222189

Number of Employees: 2000Number of Users: 9

Project Outline

Modules Implemented

Oracle Financial Analytics Oracle Procurement and Spend

Analytics Oracle Human Resource

Analytics

Operating System :Hardware Platform: IBM – AIX

PlatformProject Kick Off Date :

19TH Jan’2014Project Go Live Date:

11th May’2014

Resource Details

Evosys Resource Details

Project Manager : 1

Functional Consultant : 1

Technical Consultant : 1

Client Resource Details

Project Manager:1

Project Leader and Coordinator:1

IT Key User:1

Business Needs

To track all Deposits and Debts made by MOF on behalf of Govt. of Bahrain

To eliminate passing manual JVs

Ease the process of reconciliation using Auto-Reco feature

Challenges Oracle Treasury altogether was the new module for Evosys as

well as for consultants. Lack of expertise on the same was the biggest hurdle to overcome.

Lack of support from Oracle as well. As they have very limited number of Treasury engineers with lack of proper knowledge about the module.

To map all Debts and Deposits with proper structure of Product and Portfolio in Oracle Treasury

Convincing National Bank of Bahrain to provide standard MT940 for auto-reconciliation

Data Migration for both open short term and open long term transactions (which was created on or after 1990)

Solutions

Proper mapping of each fund with Product and each Project with Portfolio.

Changing Cash Management SLA to meet business requirement.

Mapping MT940 for Auto-Reco

Proper architecture was created for Treasury accounting

Few customization were done to meet business needs

Business Benefits Delivered

Removal of passing manual JVs and manual error for Treasury transactions

Easy process of Auto-Reconciliation

Tracking of all Treasury positions at one platform

Tracking of all historical transactions

Flexible XML reports – which can be extracted in PDF, Excel and RTF

No needs for maintaining numerous excel files.

Value Addition

Quality and proper deliverables

Solution with proper explanation

Proper follow up

Completing Project on time

Critical Success Factors

Numerous changes on custom reports done on a timely basis

To avoid integration with bank for automatic Payments

To avoid any customization for Auto-Reco process

Milestones

Project Plan and Charter: 28th Jan’14

BP80 & RD50: 25TH Feb’14

BR100: 26TH Mar’14

Completion of User Training: 23rd Apr’14

Go Live: 11th May’14

Project Completion: 22nd May’14

Questions?

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