Leading US Used-car Retailer reduces actuals processing time to 30 minutes with Oracle Cloud

Business Challenges

  • Multiple On-Premise Tools to Support Planning Process – CarMax used a mixed environment of on-premise planning tools and Excel to complete Annual Budgeting, Quarterly Forecast and Long-Range Planning
  • Multiple Hierarchies – Legacy environment utilized a custom built GL Data Mart as the source for data and hierarchies which posed numerous challenges to the FP&A team
  • User Adoption - Multiple tools were difficult to juggle, and often led to one or more products being forgotten

Solution

  • Enterprise Planning & Budgeting Cloud Services – Converted on-premise planning applications to the Oracle’s cloud environment and implemented Oracle EPM Cloud Financials module for quarterly and long-range forecasting capabilities
  • Updated Integration Process – Revamped the data integration process to remove the dependency on the GL Data Mart by sourcing financial data directly from PeopleSoft, developing data integrations across planning areas and creating a hierarchy management process that the finance team can maintain
  • Peloton Breakaway – Peloton’s collaborative implementation methodology was used to ensure rapid learning and adoption throughout the implementation process to ensure end-user adoption.

Impact

  • Reduced processing time – By enabling the FP&A team to load actuals directly from the GL via Cloud Data Mgmt, actuals can be refreshed within 30 minutes rather than overnight
  • Eliminated dependency on GL Data Mart – Control over application structure and data now resides with FP&A allowing for faster issue resolution & updates
  • Ability to analyze Comp/NonComp – FP&A now has the ability to analyze the entire P&L by Comp / NonComp, a key retail performance indicator