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Business Activity
Harris Corporation is an international communications and information technology company serving government and commercial markets in more than 125 countries. Headquartered in Melbourne, Florida, the company has 14,000 employees and annual revenue of approximately $5.5 billion.
The Challenge
Harris wanted to change its inventory accounting from a Balance Sheet approach to a Profit and Loss approach. Included in the change was the need to break out the markup element within each posting, which was to be booked to separate designated accounts.

This functionality was unavailable in standard Oracle, making it necessary for Harris to calculate these breakouts manually. This approach was time consuming and error prone, and it increased the complexity of the monthly period close.

Harris was concerned about the cost and risk of customizing Oracle to help automate this important requirement, and was searching for a commercially proven, third-party solution.
The Solution
Harris selected the Virtual Trader Intercompany Engine to automate the breakout and posting of markup and cost elements, eliminating the time-consuming and error-prone manual process that was previously deployed.

The Virtual Trader Engine generated compliance with international legislation on transfer pricing as well as providing Harris with improved analysis on the use of inventory around the world at standard cost.

The Virtual Trader solution provided Harris with the required functionality faster and with less risk than developing an in-house customized solution.

Placing the accounting rules in the hands of the business reduced overhead, removed reliance on its IT department, and provided flexibility for future change.