Realtor.com faced significant challenges with the lack of visibility and repeatability in its financial close process across multiple entities. The handoff from one task to the next was not automated and resulted in unnecessary delays and the absence of traceability. Manual reconciliation of its large number of accounts resulted in missing reconciliations, improper use of roll-forwards, and insufficient justification and documentation.
Realtor.com needed a unified solution with proper integration and real-time reporting that would help improve productivity and simplify accounting and reconciliation processes.
The AST team has been extremely knowledgeable and AST has played a critical role in our Digital and Cloud transformation journey.”Arul Daniel Vice President of Enterprise Systems
Solutions & Benefits
AST’s long-standing relationship with Realtor.com, our previously successful engagements with the client, and our team’s expertise with industry-specific Cloud EPM engagements positioned our team as the ideal partner for this critical project. After performing a detailed analysis of Realtor.com’s current challenges, AST determined that Oracle Financial Consolidation and Close Cloud Service (FCCS) and Oracle Account Reconciliation Cloud Service (ARCS) was the best combination of cloud software to meet its needs.
The successful implementation has streamlined Realtor.com’s financial close operations with clearly identified tasks in an appropriate, repeatable sequence. The client has also realized the following benefits:
- Greater transparency and continuous improvement.
- Risk-based reconciliation process, resulting in improved internal controls and auditability.
- Workflow support with monitoring and reporting of reconciliation status.
- End-to-end automation of data loading using Data Management/EPM Automate, reducing reconciliation cycle time and ensuring data integrity.
- Oracle Financial Consolidation and Close Cloud Service (FCCS)
- Oracle Account Reconciliation Cloud Services (ARCS)
AST’s Oracle EPM Cloud expertise has substantially contributed to improved internal controls, eliminated paper and spreadsheet dependence, and combined disparate data sources into a single source of truth to support multiple entities.