Oracle just announced the successful deployment of Oracle E-Business Suite Financials12.1 at the Vietnam State Treasury (VST) to standardize VST’s internal financials in compliance with Vietnam’s and international accounting standards.

 

As a professional, specialized unit under the Ministry of Finance, VST identified a number of critical requirements related to scalability, standardization and managerial report production that would benefit from a best-of-breed information and technology system.

 

VST chose the Oracle E-Business Suite 12.1 due to the solid and centralized architecture which is capable of working side by side with existing legacy software to respond flexibly to the complicated financial processes throughout VST.

 

Dramatic results have been recognized through improved efficiency and productivity across all departments in VST including: Improving productivity of accounting staff; Considerably reduced back-office costs, time and resources; Streamlined, automated and simplified all VST’s internal financials; Enabled real-time access to information at managerial levels, helping to produce multi dimensional reports; The new system in place ensured standardized compliance with Vietnam and international accounting standards.