Business Challenges

• Rigid Legacy Systems:  Cambridge Associates’ 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• Lacked Process Standardization: Undocumented manual processes for outdated systems that was supported through tribal knowledge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 for Cambridge Associates

• 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