Ali proceeded to discuss Saudi Aramco's key business processes, called Business Cycles, namely: Order to Cash, Requisition to Pay, Hire to Retire, Build to Dispose, Record to Report and Plan to Results. He highlighted the benefits realized through the SAP implementations focusing on how processes were optimized and controls enhanced. He said that, “With the implementation of ERP technology and the optimization of our processes in each of the Business Cycles, Finance has transformed from a scorekeeper and information provider to a valued business partner that provides advisory and decision-support services.” Al-Ali discussed how, in addition to typical system and application controls, Finance has deployed automated solutions to monitor key financial reporting controls, maintain adequate segregation of duties and ensure Saudi Aramco's approval authorities are adhered to. “What started as a “survival” strategy to replace our legacy systems, evolved into an integrated set of business processes that not only process our day-to-day transactions in a seamless, integrated manner but also produce vast amounts of business intelligence that can be used to drive business decisions.” --MORE
