Amazon.com operates as a global online retailer through web sites such as amazon.com and amazon.ca. The company serves consumers through its retail Web sites and focuses on selection, price, and convenience.
The business challenge was to consolidate the hundreds of different financial reports being generated everyday across global business units from different transactional systems and data marts to streamline consolidation efforts, produce accurate reporting of financial numbers, and reduce delays for immediate reporting requirements.
The objective of the project was to enable reporting for General Ledger, Payables and Receivables modules within the Financial Analytics module of the Oracle BI Applications. The functionality of the application was focused on providing quick and centralized access across globally distributed organizations and ledgers for insight into invoice balance aging, collector performance for receivables, managing balance sheets, trial balance reporting, and P&L statements during monthly, quarterly, and annual close processes.
With the new application, Amazon has experienced a 40% reduction in time to complete the financial close process.
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