History of MRM Systems Sample Clauses

History of MRM Systems. ‌ Throughout the 1990’s, the financial and compliance processes operated on a mainframe environment. Financial and compliance software had been customized over the years and was complex, inefficient, difficult to change, and expensive to maintain. The various compliance processes and the organizational structure were very compartmentalized with “stove-pipe” business processes and associated personnel. In addition, high operating costs of the mainframe, the desire to utilize COTS software, web-based technology and implementation of the Reengineered Compliance Asset and Management (CAM) and the Royalty-In-Kind (RIK) Programs caused MRM to re-compete the mainframe IT contract. MRM wanted to utilize COTS accounting systems to manage collection receipts, processing, distribution and disbursement; maintenance of receivables and payables balances; support of electronic data interchange and electronic commerce; and production of MRM’s many required accounting and financial reports. The system had to comply with Treasury financial system requirements. MRM selected the current Service Provider (SP) to convert the financial system to the PeopleSoft® financial system and to develop the Reengineered Compliance and Asset Management business processes. The new systems became operational in November 2001. Since then MRM has further customized the PeopleSoft® financial system The Compliance and Asset Management systems have gone through an evolution from a structured analytical business process to a more flexible, user driven work management and analytical tool set that supports changing work loads and priorities. The Data Warehouse and associated data mining tools have not evolved significantly from the original design and implementation. The RIK Program began in 1999 as a pilot program using manual processes. Over the past years the RIK Gas Program has automated many of its business processes using Nucleus software. The RIK program plans to upgrade to Entegrate by the end of February 2007. Custom code extracts certain information from Nucleus and transfers it in the appropriate format to PeopleSoft® and The Data Warehouse.
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Related to History of MRM Systems

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