In the dynamic world of energy storage, ESS Inc. stands as a pioneer, manufacturing low-cost, long-duration iron flow batteries for commercial and utility-scale applications. Recognizing the need to streamline operations, enhance efficiency, and gain real-time insights, ESS Inc. embarked on a digital transformation journey with NexInfo, a trusted Oracle Cloud consulting and implementation services provider.
Challenges while Navigating the Path to Digital Transformation
ESS Inc.’s legacy systems were hindering their ability to fully leverage Oracle Cloud’s capabilities, leading to several challenges:
- Limited Adoption of Oracle Cloud Features: ESS Inc. needed to fully utilize the advanced features of Oracle Fusion Cloud, resulting in semi-automated processes and a lack of end-to-end transaction traceability.
- Inadequate User Training: Users need to be more effectively trained on using Oracle Cloud, requiring constant assistance and guidance, hindering process efficiency and workflow optimization.
- Project Accounting Gaps: ESS Inc.’s capital projects needed more project accounting, procurement tracking, and expense management, making it difficult to track project costs and make informed financial decisions.
Tailored Solutions for Enhanced Operational Results
NexInfo partnered with ESS Inc. to address these challenges and implement a comprehensive digital transformation strategy using Oracle Fusion Cloud ERP and Supply Chain Management (SCM).
Oracle Fusion Cloud ERP is an elaborate enterprise resource planning (ERP) solution with a single platform for managing all business departments in a dashboard.
How does Oracle Cloud SCM help?
Oracle Cloud Supply Chain is a suite of cloud-based supply chain management solutions that help organizations plan, execute, and manage their supply chains.
What did NexInfo do for a Successful Implementation?
- Implementation of Key Financial Modules: NexInfo implemented crucial financial modules like Expenses, Projects, and Quality, providing ESS Inc. with a robust framework for managing finances, projects, and quality control.
- Enhanced Reporting and Analytics: NexInfo enabled Smart View reporting and custom reports/dashboards for finance and supply chain applications, empowering ESS Inc. with real-time insights and data-driven decision-making.
- Streamlined Monthly Processes: NexInfo streamlined the monthly closing process, improving reporting, variance reporting, and reconciliation, enhancing financial efficiency and accuracy.
Benefits: Unleashing the Power of Digital Transformation
ESS Inc.’s digital transformation journey with NexInfo resulted in significant benefits:
- Streamlined Operations and Process Automation: ESS Inc. streamlined its business operations using standard Fusion functionality, increasing system adoption and process automation, improving efficiency, and reducing manual intervention.
- Enhanced Operational Efficiency: ESS Inc. achieved an impressive 20% increase in operational efficiency within the first three months of engagement, demonstrating the transformative impact of digital transformation.
- Improved Process Efficiency and Reduced Closing Time: ESS Inc. experienced a 30% reduction in time required for financial closing processes, highlighting the effectiveness of NexInfo’s implementation approach.
A Model for Digital Transformational Success in the Energy Sector
ESS Inc.’s digital transformation journey with NexInfo is a testament to the power of technology and the importance of choosing the right implementation partner. NexInfo’s expertise, experience, and commitment to understanding ESS Inc.’s unique needs enabled it to achieve its goals and position itself for continued success in the ever-evolving energy sector.