Oracle Cloud to Improve Financial Visibility and Accelerate Business Growth for Asahi Refining
Asahi Refining, leading provider of precious metal assaying, refining, and bullion products, selected Oracle Cloud Applications and Oracle Cloud Platform to streamline its procurement and financial processes to get a more comprehensive and accurate picture of its financials to provide better visibility into the business. By moving to the cloud, Asahi Refining has been able to shift its full attention to its core business of refining gold and silver and accelerate business growth.
The ongoing digitization of the refining industry means that organizations need an integrated financial platform to leverage data insights that can help evolve their business models and retain their competitive advantage. To address this market shift, Asahi Refining needed to overhaul its legacy enterprise resource planning (ERP) system, which was difficult to maintain, had limited reporting capabilities and contained fragmented data spread across various silos. The company needed a modern, integrated system to gain the insights needed for swift approvals and decision making.
“In order to update our outdated and over-extended IT infrastructure, we needed to move our financials to a centralized and secure environment,” said Kevin Braddy, IT director, Asahi Refining. “The Oracle ERP Cloud gives us real-time visibility into finance operations across the company and helps drive efficiencies across our financial processes. With this accurate financial information easily at hand, we are able to focus on growing our business.”
Using the Oracle ERP Cloud and Oracle Cloud Platform, Asahi Refining was able to replace its legacy ERP environment with an integrated cloud-based financial system. Within three months, Asahi Refining was able to fully implement the solution and transition to Oracle Self-Service Procurement Cloud, Oracle Financials Cloud, and Oracle Purchasing Cloud. The company now has a highly accurate, 360-degree view of its financial systems and operations. In addition, Asahi Refining was able to standardize reporting and reduce month-end reporting from a week to just three days, while increasing its efficiency in processing receivable transactions.
“We are happy to be working with Asahi Refining to help them transform their business with the Oracle Cloud,” said Amit Zavery, senior vice president, cloud platform and integration, Oracle. “Moving from legacy systems to the cloud enabled Asahi Refining to modernize its technology systems, improving visibility into the business and ultimately accelerating growth and increasing efficiency.”
Asahi Refining used the Oracle Java Cloud and Oracle Database Cloud to seamlessly integrate its Oracle ERP Cloud applications with its legacy ERP system and third-party payroll applications, as well as to validate all data coming into the Oracle ERP Cloud from those legacy applications. Additionally, Asahi Refining has been able to lower its total cost-of-ownership by moving to the cloud, which the company can now leverage to realize additional business efficiencies in the future.
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