New suite delivers for Qatar Post
The independent postal service in Qatar, Q-Post, announces that it has implemented a new solution to help manage its finances.
The independent postal service in Qatar, Q-Post, announced today that it has implemented a new solution to help manage its finances.
Q-Post will use Oracle Financials, part of the Oracle eBusiness Suite, to help manage the corporation’s switch from cash-based accounting to accrual-based accounting, where revenue is recognised at the time a service is delivered rather than when the payment is received.
The Oracle solution will also be used to assess the costs and profitability of new projects, and to monitor audit trails to make them easier to view and control. The system will allow Q-Post, which was a government entity until 2001, to link in to the services available at many of the government ministries in Qatar.
“In order to provide a swift, efficient postal service, Q-Post’s primary goal is to ensure we keep our costs down — and our customers happy — while providing excellent quality of service,” said Ali al-Kubaisi, director of financial and commercial affairs, Q-Post.
“To achieve these aims, we looked at the way our internal departments were operating, as well as how we produce accurate data and reports as we moved towards an accrual system. What we found was that the Oracle eBusiness Suite offered the optimum product in the market to achieve the transformation we required.”
The eBusiness Suite solution includes accounts payable, accounts receivable, cash management, purchasing and payroll, and was chosen for its scalability.