Top 10 Finance Optimizations for JDE
Our team of JD Edwards experts shares the top 10 finance optimizations for JDE
The Terillium Managed Services team has helped hundreds of clients maximize the potential of their JD Edwards system. Below they share the top 10 finance optimizations for JDE.
1. Integrity Report Training
Current Configuration Review and Ongoing Monitoring Support
Maintaining data integrity provides the foundation for accurate reporting. The Terillium team can monitor your system and respond to data issues proactively, or we can train your team to do so.
2. Maximize System Performance with Data Table Management
Record Summarization/Purge Feasibility, Planning, and Implementation
As a company continues its use of JD Edwards EnterpriseOne over time, there is a need to manage the size of data tables to maximize performance and streamline user searches. This is particularly an issue in high volume transaction environments like manufacturing, logistics, and project cost based industries. Terillium Managed Services can help you determine what is the correct amount of data for you to maintain and devise a strategy for ongoing retention.
3. Month End Closeout Support
Identify: Unposted, Unprocessed, Out of Balance
Terillium Managed Services monitors and responds to issues with transaction batches, allowing your team to focus on the month end processes that bring the most value.
4. Bank Processing Automation
ACH Payments, Positive Pay, Email Remittance Advice
Automating manual banking processes can reduce errors, improve supplier relationships, streamline the application of vendor discounts, and enhance transaction security. Terillium has extensive experience working with banks of all sizes to build and support your team’s integration of these processes.
5. Improve Cash Flow
Use of Underutilized Accounts Receivable Functionality like Statements, Automatic Cash Receipts, Delinquency Notices and Fees
Terillium can assist you in deploying EnterpriseOne tools that can quickly process cash receipts and improve your cash flow. Encourage more timely customer payment and keep invoice commitments on everyone’s radar by automating statement and notice processing.
6. Overall Closeout Support and Best Practices Training
Month and Year-End Review
The Terillium Managed Services team has helped hundreds of businesses. Leverage the team’s expansive experience by allowing them to review your current close practices to see where you may be missing or underutilizing system tools or processes that can save time or improve reporting for financial reports.
7. Automate Manual Batch Processes
Maximized Use of the Scheduler
Why submit batch processes manually when your system can be configured to execute these mundane tasks for you? You can control the cadence of execution and alleviate the problem of being caught off guard with inaccurate reporting due to unposted or unprocessed transactions.
8. Move Fixed Assets into E1 from a Third Party System
Possibility of Moving Fixed Asset from Third Party Systems into EnterpriseOne (for book and/or tax)
Many companies that use EnterpriseOne for their financial system of record do not realize the benefits of the Fixed Assets module. Terillium Managed Services can assist you in deploying a fully integrated book and/or tax depreciation process within EnterpriseOne.
9. Enhance Your Users Experience
Creating/Improving EnterpriseOne Pages to Enhance the User Experience and Increase Productivity
Oracle continues to invest in EnterpriseOne; this is especially evident in the user interface improvements. We can empower your team by training them to unleash the full benefit of UX One enhancements, or you can have Terillium design and deploy professional-looking user interface components.
10. Get Ready for the New Revenue Recognition Standards
Deployment of Impending New Revenue Recognition GAAP Rule Changes
The Financial Accounting Standards Board (FASB) has decreed that all public organizations comply with new revenue recognition standards after December 15, 2017. Oracle has created functionality to adhere to these changes, and Terillium Managed Services is ready to assist you in making the transition to the new standard.