Business Challenges
- Manually Intensive – Financial Close and Planning process required manual consolidation of multiple source systems and Excel modules to a PowerPoint presentation for management reporting.
- Multiple COA – Fast pace acquisitions meant quicker integration for reporting using standard COA which existed in JDE
- Lack of Automation and Standardization – Required manual mapping to JDE COA for consolidated reporting
- Lack of Accuracy – Calculations and allocation reporting inconsistencies
Solution
- Streamline Close and Planning Process – Leverage cloud-based solutions Oracle EPM Cloud – Planning and Financial Consolidation and Close to standardize reporting using JDE COA
- Data Integrity – Shared JDE COA across financial close and planning module
- Automated Processes – Mapped actuals, budget, and operational data through data management
- Enhanced Processes – Supports accurate and repeatable financial processes. Ability to plan and allocate key operational KPI’s by region, customer, and product tiers.
Impact
- Simplified Close and Planning Process – Standardized COA across multiple companies, hence, enabling faster close and more accurate planning and reporting
- Scalable and Extensive – Cloud-based approach to deliver benefits across Consolidations and Planning
- Increased Efficiency – Reduced the effort required to integrate new acquisition(s) by eliminating the number of manual and error prone steps
