Global Investment Firm migrates from on-premise to Oracle ERP & EPM Cloud

Business Challenges

  • Rigid Legacy Systems: On-premise financial systems, Excel spreadsheets, and manual processes for Financial reporting and Operational needs could not support their growing business
    Limited Integration & Automation: Data integration between financial systems was labor-intensive with no drill-back visibility
  • Lacked Process Standardization: Undocumented manual processes for outdated systems that was supported through tribal knowledge
  • Unreliable Data hindered Effective Management: Day-to-day risk management with error-prone spreadsheets ultimately hamstrung management’s ability to make informed, value-add business decisions

Solution

  • Oracle EPM Cloud – Planning & Financial Close Management
    • Revenue: Custom calc & reporting model consisting of unique contract & asset considerations to forecast revenue by client
    • Financials: Multi-year forecast solution for Expenses, leveraging trend & driver-based planning with allocation calculations configured
    • Workforce: Utilized Out-of-Box functionality to plan multi-year existing & new hire employee salary, merit, taxes, & attrition, with additional custom headcount & compensation reporting for executive analysis views
    • Projects & Capital Assets: Developed an IT project forecasting solution enabling the ability to manage financial, staffing, & funding needs for new & existing projects along with capitalization of projects & company assets
  • Oracle ERP Cloud – Financials, Projects, Procurement
    • Real-time Access with Full Transparency & Drill Down Capabilities: Provide key management KPIs and analytics to enable users to manage by exception including project-level profitability
    • Improved accuracy of billing time and expense

Impact

  • Standardized Processes: End-to-end, documented & streamlined process that automates the data integration with ERP Cloud and calculation in EPM Cloud
  • Enhanced Analysis and Data Integrity: Full transparency into key management KPIs & analytics to drive informed decision-making
  • Scalable Global Platform: Supports global growth and local statutory reporting across 13 countries
  • Modern Cloud-based Future-Proof Platform: Allows for growth, continued efficiencies, and on-going improvement