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Seamless Management of 40,000 Contracts: How Oi Revolutionized Financial Operations

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Oi, one of Brazil's leading telecommunications companies, has grown from a local operator to one of the country's largest providers. Its portfolio includes fixed telephony, broadband, and pay-TV, with a focus on innovation and high-quality connectivity. Oi uses advanced technology to ensure efficient, secure services and has a nationwide infrastructure. The company is also committed to sustainability and social responsibility. Oi’s evolution highlights its significant role in Brazil’s telecommunications sector.

The Challenge

Oi urgently needed to migrate its Hyperion Financial Management (HFM) system from Oracle, which was out of date, had expired licenses, and was no longer supported by the vendor. In addition, there was a critical demand to optimize the loading and optimization of processes without significantly altering the established workflows familiar to users.

A significant challenge was also to comply with the accounting standard CPC 06, which regulates the management of leases and rentals. To address this, Oi decided to expand the scope of the work by implementing the IFRS 16 solution, which aligns with international accounting standards for leases.

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The Approach

Avvale began by conducting an in-depth assessment of Oi’s existing financial processes to fully map out the migration path. This analysis guided the development of a comprehensive work plan, ensuring minimal disruption to established operations.

In close collaboration with Oi’s financial and security teams, Avvale facilitated the migration to Oracle EPM Cloud, with special attention to enhancing process efficiency while maintaining familiarity for the users. Throughout the project, Avvale provided best practice recommendations, streamlining financial operations and aligning them with market-leading governance standards.

The implementation of Oracle’s IFRS-16 solution was also crucial in managing Oi’s vast portfolio. In partnership with Oi’s security team, Avvale ensured compliance with SOX requirements, addressing any concerns related to security, access control, and interface usability.

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The Impact

After Avvale's implementation, Oi improved the speed and accuracy of its closing process by reducing manual errors and simplifying operations. The automation of IFRS-16 processes enhanced governance for managing over 40,000 rental and leasing contracts using a robust market-leading tool. Oracle Financial Consolidation and Close significantly modernized corporate consolidation, reducing database update time from 40 minutes to just 2 minutes, and streamlining financial reporting for faster, more secure decision-making. Reports are now directly sourced from the application, minimizing errors. The cloud version is increasing process maturity, with further improvements expected. Additionally, infrastructure costs were optimized by shutting down five physical servers.

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