A new partnership between UK-based Oracle consultancy Mokum and document management software vendor Version One (news, site) means that Oracle Financials clients will be able to access Version One directly from their Oracle (news, site) system.
This is a solution that enables users manage full business processes of all financial documents from capture to archiving, resulting in a considerable reduction in the costs associated with these normally document-heavy tasks.
Oracle E-Business Suite
Oracle Financials Centralized Solution Set consists of a global accounting solution, a robust intercompany solution and a global tax solution — all built to work together on the E-Business Suite's unified information architecture.
It is also a key component of Oracle E-Business Suite Financials family of applications and integrates with Oracle Purchasing, Oracle Projects and Oracle Manufacturing applications.
As software designed specifically for the financial vertical it includes:
- Global financial reporting and tax requirements with one accounting, tax, banking and payments model
- Easy-to-operate shared services across businesses and regions
- Pre-integrated financial and industry-specific processes
Oracle And Version One
That Version One has teamed up with Mokum and in doing so teamed up with Oracle is not really surprising given the kind of software Version One is selling.
Its document management and imaging software enables automatic document scanning, recognition, storage, archiving, retrieval and delivery of most business documents.
However, more significantly it also integrates seamlessly into all major accounting and ERP systems and claims typical ROI of less than six months. This means that business documents, such as invoices and statements, are automatically created, delivered, archived and retrieved according to need.
With Oracle, it securely stores all imaged documents in an electronic archive integrated with the Oracle system, which not only eliminates the risk of lost and soiled documents but also ensures rapid retrieval.
Oracle And Mokum
The third element in this deal is Mokum. Mokum is based in the UK and is the largest management consultancy in Europe to specialize exclusively in Oracle Applications and Database products.
As such, it delivers implementation, upgrade and enhancement projects for the Oracle E-Business Suite, with its functional team providing managed services for the range of E-Business modules and Oracle Database support both remotely and on-site.
While everyone’s a winner in this deal, it will be particularly sweet for Version, which has — since the middle of last year — been undergoing rapid expansion that has taken it to the US and Latin American markets, and Africa just after Christmas. With Mokum and Oracle the possibilities for continuing that expansion are huge.