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Empower your team while improving efficiency, reducing costs, and transforming how your business serves customers with high expectations. Accurate reports from a consolidated, streamlined system, drive success.
Embrace the unexpected and harness what it can offer your company to drive innovation and transformation for your customers.
With greater use of technology, centralized systems and processes you do not need to worry about manual tasks, workarounds, or delays.
Consolidate systems, improve functionality, and use poignant metrics to revolutionize how you work and the results you get.
From Transformation to Preservation
Whether you’re looking for a total transformation, updates to your on-premise system, or to preserve what you currently have, we can handle whatever it is that you need.
The Challenge: Lyft’s auditor recommended they replace a home-grown system (Bookkeeper) that transformed Platform revenue transactions into accounting rules that feed their NetSuite GL with a commercial subledger system that:
- Improved Auditability and reconcilability (SOX requirements).
- Centralized control.
- Improved month end close.
- Enhanced drill-down revenue analytics.
- Improved financial analysis.
Furthermore, the Auditor recommended this be complete before the next year began, which was in only 5 months. Due to this becoming Oracle’s largest Cloud implementation to date and the large number and complexity of rules they estimated the project would take 15 months.
The Goal: Highstreet was engaged to perform the critical Cloud FAH design and configuration for Lyft’s Oracle Accounting Hub Cloud Service (AHCS). Lyft processed 10’s of millions of transactions each day in their ride “Platform” and interfaced them in aggregate to NetSuite monthly.
The Results: The AHCS implementation successfully replaced their legacy Bookkeeper homegrown SQL system that feed their NetSuite GL. Lyft now uses AHCS to accept data from their “Platform” transaction system daily to create detail subledger transactions for each transaction with reuseable, consistent rules and drilldown capabilities, and then the NetSuite GL a daily summarized journal.
In this record breaking implementation, Highstreet implemented the largest Oracle AHCS configuration with 10 million transactions a day and did it successfully within the 5 month timeline. Lyft realized the following benefits:
- Lyft was able to close their first quarter on the new system in 6 days versus in weeks or more before;.
- An improvement in the data governance and data quality issues across different data domains and functional groups.
- Optimizing compliance, processes and controls and even capturing business value from ever-shifting financial reporting.
- A financial system that supports changing financial reporting needs as the business grows and allow close reports to ultimately be generated faster, more accurately, and with less manual work.
"I wanted to extend a very large thank you to every single person that helped us get through this first Quarter Close. We have already drastically increased our efficiency from January (>20 days) to March (6 days)!”
Manager of Financial Analytics
Some of Our Transformations
By using the very best solutions available, we drive practical, on-the-ground transformation in your business.
Oracle Cloud Solutions
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