EPM Cloud platform improves resource planning, budgeting and close process at global Risk Management Insurance firm

Business Challenges

Excel-Based Manual Processes – Planning and close processes dependent on multiple Excel workbooks
No Process Integration – Lack of integration between budgeting, consolidations, and reporting processes
Limited Automation and Standardization – Calculation and allocation reporting inconsistencies led to inaccurate and non-repeatable financial processes

Integrated Cloud-Based Solution (Oracle FCCS and EPBCS) – Budgeting, forecasting, and consolidating all supported in a streamlined “future-proof” cloud environment
Automated Processes – Mapped actuals, budget, and employee data using improved data management mechanism
Enhanced Data Granularity – Supports accurate and repeatable financial processes by allowing for the ability to plan at the individual employee level
Robust Reporting – Created new set of analytical monthly financial reports

Faster and More Accurate Information – Established a foundation to provide timely and accurate plans, reports, and financial analysis
Scalable and Extensive – Cloud-based approach delivers scalable system across consolidations and budgeting
Increased Efficiency – Reduced number of manual steps and reliance on offline Excel models