Top 10 Finance Optimizations for JD Edwards

Top Ten 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 On-Going 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.

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.