Business Challenge

Taylor is a city in Wayne County in the U.S. state of Michigan. Its population was 63,409 at the 2020 census. Taylor is the fifth most-populated city in Wayne County and the 17th most-populated city in Michigan.

City has been using manual process for finance activities and relied heavily upon excel tasks to perform the activities. The users need to have the approver physically sign the form which was time consuming and was susceptible for human errors.

Lack of automation for Procure to Pay process from requisition creation to accounting process. Budgeting and planning were excel based. Budget and department managers did not have real-time insights of the budget consumption.

Solution

CLOUDVICE supports City to automate the finance and budgeting process as part of Fusion Advanced Support team (FAST) managed services.

• CLOUDVICE helped to streamline workflows to automate the requisition, purchasing & contract management processes.
• Developed Budgetary control dashboard to provide real-time insights to budget and department managers.
• Developed Budgetary control custom reports for detailed analysis for budget managers.
• Enabled and trained automated invoice processing (AIP) model to create AI driven invoices to eliminate manual invoice creation.
• GASB accounting is implemented to follow the GASB standards of reporting.
• Automated bank file transmission, AS400 Journal entries, Paycom Payroll journals.
• Built custom reports and dashboard for P2P and O2C processes to provide real time insights to City.

Results

• 24/7 business continuity through Oracle Cloud modern business processes
• Centralized Budgeting improves efficiency by 3X
• Automated P2P process improves Procurement efficiency by 2X
• Proactively educating City with new feature Analysis for quarterly enhancements
• Improved month end and year end closure cycle time by 2X