The Customer is a leading global provider of Bulk Liquid Storage Solutions in USA. Due to the acquisition of a part of their group business, the Assets were revalued and sold out to the Acquiring Company. The Customer wanted to archive the details of existing Assets and then revalue the Assets to record the Acquisition.

Engagement Highlights

  • Archived 7 Corporate Books having 9000+ Assets
  • 100% replication of Assets from Corporate Book to Archival Book
  • Validated and Reconciled the archival books
  • Performed Revaluation of 8000+ Assets to reflect the acquisition value of the Assets
  • Worked with Customer Finance Team to present the accounting solution of revaluation and obtained Sign-off

How did we Deliver?

  • Collected the requirements by working with the Customer and facilitating the requirement gathering sessions.
  • Created a Tax Books and used Standard Oracle features of Mass Copy to archive the data into Tax books
  • Using Tax Book upload interface, achieved accuracy in archiving the Cost, Life, Current month Depreciation, YTD Depreciation, Depreciation Reserve values of Assets
  • Performed Multiple iterations of testing to ensure high accuracy in data conversion and achieved 100% accuracy in archiving and revaluing the Assets
  • Developed data load templates and Reconciliation templates to create books and verify the results.

What Did Customer Like?

  • Delivery On time
  • Impeccable reconciliation of data
  • Troubleshooting Skills
  • Effective Project Management