REACTR Platform Empowers Extended Warranty Analytics

IQAccountant helps companies that use legacy PeopleSoft Financials with their data transformation journey. What does data transformation mean? There are silos of transactional data locked away in each ERP application module like Accounts Receivable, Accounts Payable, Expenses, etc. and\or external third-party systems that have actionable data points but the transactional data is partitioned away from each other and prevented from creating value for the organization. IQAccountant provides the RE.AC.TR. (REsource ACtivity TRacker) platform to unlock the data silos and integrate the data for actionable analytics and reporting. REACTR was built to deliver real-time intelligent data analytics and automatic reporting for key resources like Cash and Profits but also custom financial metrics like extended warranty product price risk, too.

Cash is a great example of what REACTR can do because it is a difficult financial metric to track due to the numerous data silos (internally and externally) in a Financials ERP system. Generally, most customers have built opaque and off-system processes to report Cashflow after period end when the data has become stale and has lost its actionable value. REACTR changed the rules on Cashflow reporting and has made it a powerful and actionable data metric by using an on-system steady state platform and by tracking the activity in real-time. REACTR accomplishes this by the following key features:

• REACTR platform is a bolt-on application in PeopleSoft Financials.

• Third-party data integration into REACTR platform.

• Accounting Data Models

          * Simplified and flexible data layer from the transactional ERP system.

​​​​​​​          * ERP Transactions are linked for visibility and accuracy.

• nVision platform integration for powerful trial balance level reporting.

• Online Analytics for intelligent real-time actionable data analysis.

For the extended warranty business, Dan Kozlowski of DRK Resources Tech LLC (drkresourcestech.com) and I reviewed the need for better analytical reporting. REACTR can help the extended warranty reporting in PeopleSoft Financials. One of the important properties of REACTR is that it is agnostic to the transactional ERP system. Our Accounting Data Models are based on how you the customer would like to track and report extended warranties. So how could REACTR track extended warranty activity? Dan’s input was key because of his many years in the extended warranty space and we came up with a few high level design decisions that would fit well for extended warranty business. Since REACTR is flexible not every customer will configure it the same way but there are a few design points each customer will consider:

• One of the features of the REACTR platform is configurability for each customer situation based on the customer requirements. Since REACTR relies on metadata to aggregate and organize extended warrant activity, every customer can define their own analytics and reporting design by using trees, tree levels and tree node descriptions.

• Extended warranties have a time lag because a warranty is not active until after the first year or more. Since the REACTR will track data by extended warranty and not by the underlying transaction properties, it would aggregate activity over many years and provide it for analysis in the period the extended warranty was booked or realized by the business for product price risk between revenue and claim expenses. This is a feature of our accounting data model that again proves the flexibility of the REACTR platform.

• Extended warranty data can come from third party systems which would require a seamless integration. We designed the REACTR to integrate third-party data using PeopleSoft best practices and we offer a free PeopleSoft GL integration process to assist with the third-party integration.

Of course, more detail discussion will occur depending on the desired insights that the business would like to track and report. For topical discussion, this provides a very good picture of what the REACTR platform can do for extended warranty analytics. For more information please visit https://www.iqaccountant.com/ or email me at noel@IQAccountant.com. IQAccountant is an Oracle Partner.