Group 1 _ Edelweiss

8/9/2019 Group 1 _ Edelweiss

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Group 1

Apurva Nahata 223

Nikhil Shetty 234

AkhilVinaik 246

Medhavi Singh 250

Anshul Bhatia 253

Mahesh Kankani 256

Oracle Financials Application

Edelweiss Capital Ltd


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Edelweiss Capital Ltdy Started business in 1996

y Leading financial services company based out of Mumbai and

New York

yServices provided include investment banking, institutionalequities, private client broking, asset management, wealth

management, insurance broking and wholesale financing

y Provides services to corporate, institutional and high net

worth individual clientsy 13 subsidiaries as of date


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Edelweiss Structure

Account Line of Business Branch Function

-- --

Entity

Owner Fund

Assets

LiabilitiesExpense

Revenue

(Categorized by

Zone or Region)

Mumbai

Delhi

Chennai

Calcutta

Product

Development

Finance,

HR,Legal,Admin

Invst Banking

Institutional

Equity

Asset Mgmt

Wealth Mgmt

Broking

Wholesale

Financing


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Need for ERPy Need of a centralized accounting system to track all

accounting information

y Adhering to the quality requirement standards since the

company was an ISO 9001:2000 companyy Meeting regulatory requirements

y Exponential growth in the number of clients

y Requirement of a complex systems which can provide real-

time and detailed analysis for better decision making processy Existing software package, Tally, could not address the above

issues


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Why Oracle Financialsy Oracle Financials is a market leader

y Complete E-Business Suite

y Contains pre-integrated business applications

y Functionality built specifically for banking and capitalmarkets organizations.

y KPMG, who was roped in as an external consultant to

implement the project, had prior experience on Oracle

Financials


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Oracle Financial Application

Oracle General Ledger1

2 Oracle Payables

Oracle Receivables3

Oracle Cash Management4

Oracle Assets5

Oracle Purchasing6


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General LedgerEnter , Post Journals and Extract Ledger Balances

Publish inancial Reports

Import Sub Ledger Transactions

Allocate Administrative Expenses

PayablesMaintain Vendor Master

Process Invoices Payments

Process TDS on Payments

Print TDS Certificates, process E-TDS Certificates

ReceivablesCustomer Master Maintenance

Billing, revenue recognition, Dunning Letter Statements

Aging AnalysisAutomatic and Manual Receipts

AssetsAsset Management

Capitalize Asset Invoices through AP

Process Depreciation, Retirement and transfer Insurance

and Warranty Details Maintenance


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Oracle General Ledger BalancesOracle General Ledger Balances

Or l l Or l A t Or l R iv l Third rt S t m


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General Ledger

Transaction

processing

Consolidations and

close

Reporting and

analysis

Setup Intercompany

accounting


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PayablesEnter supplierEnter supplier Enter invoiceEnter invoice Approve invoiceApprove invoice

Create accountingCreate accountingentriesentries

Transfer informationTransfer informationto general ledgerto general ledger

Pay invoicePay invoice

100,000100,000

A/PA/P

60,00060,000

10,00010,000

30,00030,000


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ReceivablesEnter Customer


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Accounting Asset

Enter invoiceEnter invoice

Create andCreate and

Use AssetUse Asset

Transfer informationTransfer informationto general ledgerto general ledger

Capitalize AssetCapitalize Asset

Depreciate AssetDepreciate Asset

100,000100,000

A/PA/P

60,00060,000

10,00010,000

30,00030,000

Create accountingCreate accounting

entriesentries


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Input Screen


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Output Screen


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Report Formats


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MIS Trial Balance Report


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MIS Payables Report


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MIS Asset History Report


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DSS - GL


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DSS Supplier Negative Balance


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DSS Asset Retirement Report

0

5

10

15

20

25

30

>1 year 1 - 3 years 3 - 10 years 10+ years

No. Of Assets


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EIS GL


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EIS Payables Aging Report

31.55 %

60.72 %

7.71 %

0 % 0 % 0 %0.00

50000.00

100000.00150000.00

200000.00

250000.00

300000.00

350000.00

400000.00

450000.00

500000.00

1 - 30 days 31 - 60 days 61- 90 days 91 - 180 days 181 - 360 days 361+ days

Advanced Network Devices

20%

18%

4%

58%

0%

Payment Schedule

1 - 30 days 31 - 60 days

61- 90 days 91 - 180 days

181 - 360 days 361+ days


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EIS Receivables Aging Report

36%

16%

25%

23%

Receivable Schedule

1-30 Days 31-60 Days

61-90 Days 91-180 Days

181-360 Days 361+ Days

48.9 %

0 %

51.1 %

0 % 0 % 0 %0

50000

100000

150000

200000

250000

1-30 Days 31-60 Days 61-90 Days 91-180 Days 181-360 Days 361+ Days

Barclays Capital


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Implementation

yRRoI solution is based on the principle of accelerating Timeto Value

y Enabled clients in adopting ERP solutions rapidly and with

less overall project risk

y KPMGs RRoI methodology is a tool-kit for rapiddeployment with pre-determined tables and business model

templates that are based on industry best practices

FocusDesign

SolutionDetails

Build and Test Deploy Enhance


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Implementationy Testing to be carried out by both Edelweiss and KPMG

y Testing was carried out in two phases

y Training to be provided to the Edelweiss Team by KPMG

y

Certain business processes were re-engineered within Edelweissto incorporate the best practices

y KPMG to provide templates for data migration

y Data cleansing and data migration to be carried out by Edelweiss


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Issues and Challengesy Changes during UAT Phase

y People management during the testing phase

y Design change due to change in people

y Change in organisational structurey Change in accounting segment

y Automation of payment process

y Need to adopt regulatory requirements to meet auditing

standards

y Need to meet Global Financial Standards

y Training and internal control issues


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Benefitsy Meet Indian and US GAAP requirements

y System directly allows for consolidation of book of accounts which

otherwise would take around a month

y Addition of controls in the system allows for better information

security and meeting of audit guidelines

y Single view of customer and products across branches

y Cost-effective method of obtaining accurate and real-time decision

making reports

y The solution would help the management support its growth

plans in future, as it would be scalable to meet requirements of

other subsidiaries in future


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Future Scopey Better reporting

y Changing internal process to match the best practices

y Improve interaction with third-party software so that

suppliers and customers can process their own businessdocuments

y Internal audits for better internal control and compliance

y Preparing a roadmap for future migration/upgradation


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Documents

Group 1 _ Edelweiss