AMC Entertainment Holdings, Inc. is the largest movie exhibition company in the United States, the largest in Europe, and the largest throughout the world with approximately 900 theatres and 10,000 screens across the globe. AMC has propelled innovation in the exhibition industry by deploying its signature power-recliner seats, delivering enhanced food and beverage choices, generating greater guest engagement through its loyalty and subscription programs, offering premium format experiences, and playing a wide variety of content including the latest Hollywood releases and independent programming..
Business Challenges
- EPM Solution Architecture: Complex, fragmented legacy environment with on-premises and cloud applications. Application landscape not well aligned to current business. Lack of functional and technical best practice roadmap for migration to the cloud.
- Budgeting and Forecasting: Primarily offline Excel forecast process. Inconsistent processes across domestic and international lines of business. Lack of EPM-enabled integrated “what-if’ modeling and simulation. Manually intensive, time consuming, and overly detailed budget process.
- Management Reporting: Dependency on multiple complex, hard-to-maintain application solutions. Weekly Flash Financials Report labeled “vomit of numbers.” Lack of visualization, self-service, and interactive capabilities. Manually intensive processes.
- Data Management and Integration: Significant data movement between applications. Challenges mapping from legacy structures to new cloud structures. High degree of data updates latency with overnight processes. Manual, people-dependent processes.
Solution
- Strategic Mobilization: Conducted short-cycle assessment to understand and document pain points and improvement opportunities, provide best practice functional and technical recommendations, EPM cloud migration POV, and an implementation plan for success.
- Oracle EPM and EDM Cloud: Deployed “Fit for Purpose” models for Rolling Forecast, Weekly Management Reporting and Analytics, Annual Budgeting, and Workforce (Labor) Planning. Leveraged EDM for master data maintenance and governance for EPM Cloud applications.
- Enhanced and Streamlined Planning Capabilities: Incorporated driver-based logic with key inputs (industry box office, market share, ticket prices, cost factors) cascading real-time through financials. Intuitive, user-friendly forms and task workflow.
- Reporting and Analysis: Redesigned Weekly Reporting Package, prioritized business information, actionable KPIs and metrics, insightful comparisons, and dashboards. Eliminated redundant cubes for staging, validating, and finalizing approved data sets.
Impact
- Integrated Business Planning: Cohesive, integrated forecasts and plans across domestic and international lines of business. One source of truth. Greater quality and accuracy of outputs. Significant cycle time reduction, greater analysis. Close Operations and Corp FP&A collaboration.
- Scenario Modeling, Planning, and Analysis: Ability to model, simulate, analyze, and provide financial pro-forma forecasted results (Base, Low, High) across any relevant operational and financial scenarios.
- Advanced Analytics: Revamped management reporting provides impactful, visually oriented real-time information, actionable insights, and robust ad hoc capabilities.
- Solution Usability: Significant reduction in Oracle EPM application footprint (65%) and overall complexity. Enhanced end-user experience and functional capabilities. Elimination of planning data latencies (real-time vs. overnight). FP&A/Finance owns and administers planning business processes within solution with minimal IT support required.
