Subex_Banking

Case Studies

Business Challenge: Accounts Payable Solution.

Proposed Solution

A flexible workflow solution that tightly integrates with the document scanning/imaging solution that will be hosted at Subex Facility:

Subex's workflow solution is a multi-tiered, platform independent solution, built using Java and J2EE technologies and capable of working on all the operating systems.
The entire invoice approval process is done through the workflow system.

Monitoring and tracking, and de-duping of invoices using Subex's tool set, which:

Use of Subex's tool for a high level of transparency in tracking, monitoring and reporting metrics and quality of service as well as allowing clients to investigate status

Integration with multiple ERP environments (SAP (multiple versions), Oracle, PeopleSoft) and future maintenance.

Solution Summary

This solution enables the communication between multiple ERP systems across locations and deal with the mailroom functionality problem to optimize performance. It provides faster turnaround time for the firm by eliminating duplicate invoices/payments and minimizing manual audit efforts.

Effective Outcomes

There is a consolidation of multiple environments across locations. Subex reduced inefficient and manual routing of invoices to end user and approving managers. It's a detailed reporting structure and transparency in reporting catering to both management and vendor needs. In addition to reduced turnaround time, there is a year-on-year cost reduction leading to higher profit margins

Client: Global Banking

Business Problem:
Current finance systems environment is manually intensive, error prone and lacks the required transparency, flexibility and controls to address the needs of Global Banking giant in the 21st century.

STI Solution: Finance Renovation (FR) is a modern solution that provides Finance a controlled, single source for financial control, regulatory and management reporting. The FR is a multi-component integrated system that provides financial control with a common data repository for regulatory and management reporting.

Migrating to FR will require changes to source product systems, and importantly will impact internal processes within and connected to Finance across the company.

The major components of the FR are:
i. A Data Capture and Journalisation process that accepts data from source applications that impact the Bank's balance sheet or Profit and Loss accounts. The process has three major elements:

A Transformation Layer that verifies files received from source systems and reformats them to standard record layouts for subsequent processing.
A Rules Engine that maps source application activities to appropriate accounting and reporting fields and records.
A Processor that maintains/updates a master file of balance positions, prepares GL journals and provides reporting updates for later viewing.

ii. A Posting and Storage process which contains a suite of PeopleSoft® (Oracle®) applications including a General Ledger and a Financial Data Store.

The PeopleSoft suite of applications provides:

Daily accounting periods (365/366)
Multi-GAAP with IFRS as the primary GAAP
Multi-currency
A general ledger chart field composed of Business Unit, Book Code, Account, Product, Cost Center, Source System, Affiliate and Customer Type

The Data Store holds:

The details regarding activities from source applications
Required reference data such as exchange rates

iii. An Information Delivery process which provides parameter driven access-via a portal--to financial reports such as trial balances and journal listings and a series of special extracts that build reporting cubes and delivery interfaces.
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	Case Studies Business Challenge: Accounts Payable Solution. Proposed Solution A flexible workflow solution that tightly integrates with the document scanning/imaging solution that will be hosted at Subex Facility: Subex's workflow solution is a multi-tiered, platform independent solution, built using Java and J2EE technologies and capable of working on all the operating systems. The entire invoice approval process is done through the workflow system. Monitoring and tracking, and de-duping of invoices using Subex's tool set, which: Use of Subex's tool for a high level of transparency in tracking, monitoring and reporting metrics and quality of service as well as allowing clients to investigate status Integration with multiple ERP environments (SAP (multiple versions), Oracle, PeopleSoft) and future maintenance. Solution Summary This solution enables the communication between multiple ERP systems across locations and deal with the mailroom functionality problem to optimize performance. It provides faster turnaround time for the firm by eliminating duplicate invoices/payments and minimizing manual audit efforts. Effective Outcomes There is a consolidation of multiple environments across locations. Subex reduced inefficient and manual routing of invoices to end user and approving managers. It's a detailed reporting structure and transparency in reporting catering to both management and vendor needs. In addition to reduced turnaround time, there is a year-on-year cost reduction leading to higher profit margins Client: Global Banking Business Problem: Current finance systems environment is manually intensive, error prone and lacks the required transparency, flexibility and controls to address the needs of Global Banking giant in the 21st century. STI Solution: Finance Renovation (FR) is a modern solution that provides Finance a controlled, single source for financial control, regulatory and management reporting. The FR is a multi-component integrated system that provides financial control with a common data repository for regulatory and management reporting. Migrating to FR will require changes to source product systems, and importantly will impact internal processes within and connected to Finance across the company. The major components of the FR are: i. A Data Capture and Journalisation process that accepts data from source applications that impact the Bank's balance sheet or Profit and Loss accounts. The process has three major elements: A Transformation Layer that verifies files received from source systems and reformats them to standard record layouts for subsequent processing. A Rules Engine that maps source application activities to appropriate accounting and reporting fields and records. A Processor that maintains/updates a master file of balance positions, prepares GL journals and provides reporting updates for later viewing. ii. A Posting and Storage process which contains a suite of PeopleSoft® (Oracle®) applications including a General Ledger and a Financial Data Store. The PeopleSoft suite of applications provides: Daily accounting periods (365/366) Multi-GAAP with IFRS as the primary GAAP Multi-currency A general ledger chart field composed of Business Unit, Book Code, Account, Product, Cost Center, Source System, Affiliate and Customer Type The Data Store holds: The details regarding activities from source applications Required reference data such as exchange rates iii. An Information Delivery process which provides parameter driven access-via a portal--to financial reports such as trial balances and journal listings and a series of special extracts that build reporting cubes and delivery interfaces.