Redwood Shores, CA September 18, 2002 The American Diabetes Association is using Oracle's e-Business Suite to assist the organization's goal of centralizing its financial and procurement operations.
News of this customer win for Oracle came as the company announced is financial results for the past quarter, showing a 33 percent year-on-year decline in its earnings per share.
The diabetes association, live on the Oracle system since March, has consolidated its financial department by using a single nationwide financial and accounting system, helping the organization to improve its financial operations.
"We expect to save approximately $1 million in our current fiscal year, which began in July," said John Courtney, chief financial officer for the association. "With one centralized financial system, we've reduced our labor costs and leveraged the procurement module to streamline and automate processes. Strengthening our financial and purchasing operations is a step forward for us, thanks in part to the implementation of the Oracle e-Business Suite."
To help realize savings of $1 million a year, the organization implemented a single Oracle database running the software company's Financials, Procurement and Projects solutions. The association went live with the suite in just three months.
"The whole process from developing a comprehensive needs analysis to evaluating products and completing the implementation was completed in a little over a year, on-time and on-budget," added Courtney.
The financials application is letting the organization centralize such activities as financial operations, planning, reporting and budgeting in one location. Centralized operations have enabled the association to shorten the amount of time it takes to generate consolidated financial statements.
The association is using Oracle's Procurement Suite to automate and simplify routine transactions, reduce expenses and control costs. Employees are able to create requisitions online and automatically route them to their managers for approval. The association plans to extend its e-procurement system to complete the procure-to-pay process, providing its purchasing staff with the ability to interact with vendors online and negotiate terms and discounts.
"This is where we expect to see even greater savings by negotiating volume discounts and partnering with organizations that share our commitment to cure diabetes," said Courtney.
Meanwhile, Oracle on Tuesday reported earnings per share of $0.06 for its first fiscal quarter, based on generally accepted accounting procedures, down from $0.09 for the year-ago period. The results were in line with analysts' expectations for the quarter.
The company took in revenues of $2 billion for the quarter, with net revenues coming in at about $343 million.
The software giant reported that its new application license revenues dropped 24 percent from a year ago, in line with declines at other major enterprise application vendors, such as SAP, which saw a 23 percent drop, and PeopleSoft, which saw a 21 percent fall.
Oracle reportedly plans small job cuts, trimming about 600 out of a total of 41,500, principally in Europe and Asia, according to a news alert put out by technology consultancy AMR Research.
News of this customer win for Oracle came as the company announced is financial results for the past quarter, showing a 33 percent year-on-year decline in its earnings per share.
The diabetes association, live on the Oracle system since March, has consolidated its financial department by using a single nationwide financial and accounting system, helping the organization to improve its financial operations.
"We expect to save approximately $1 million in our current fiscal year, which began in July," said John Courtney, chief financial officer for the association. "With one centralized financial system, we've reduced our labor costs and leveraged the procurement module to streamline and automate processes. Strengthening our financial and purchasing operations is a step forward for us, thanks in part to the implementation of the Oracle e-Business Suite."
To help realize savings of $1 million a year, the organization implemented a single Oracle database running the software company's Financials, Procurement and Projects solutions. The association went live with the suite in just three months.
"The whole process from developing a comprehensive needs analysis to evaluating products and completing the implementation was completed in a little over a year, on-time and on-budget," added Courtney.
The financials application is letting the organization centralize such activities as financial operations, planning, reporting and budgeting in one location. Centralized operations have enabled the association to shorten the amount of time it takes to generate consolidated financial statements.
The association is using Oracle's Procurement Suite to automate and simplify routine transactions, reduce expenses and control costs. Employees are able to create requisitions online and automatically route them to their managers for approval. The association plans to extend its e-procurement system to complete the procure-to-pay process, providing its purchasing staff with the ability to interact with vendors online and negotiate terms and discounts.
"This is where we expect to see even greater savings by negotiating volume discounts and partnering with organizations that share our commitment to cure diabetes," said Courtney.
Meanwhile, Oracle on Tuesday reported earnings per share of $0.06 for its first fiscal quarter, based on generally accepted accounting procedures, down from $0.09 for the year-ago period. The results were in line with analysts' expectations for the quarter.
The company took in revenues of $2 billion for the quarter, with net revenues coming in at about $343 million.
The software giant reported that its new application license revenues dropped 24 percent from a year ago, in line with declines at other major enterprise application vendors, such as SAP, which saw a 23 percent drop, and PeopleSoft, which saw a 21 percent fall.
Oracle reportedly plans small job cuts, trimming about 600 out of a total of 41,500, principally in Europe and Asia, according to a news alert put out by technology consultancy AMR Research.
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