Financial Consolidation and Close Cloud Solution (FCCS) enables “one version of the truth” reporting at $18B private equity firm
Business Challenges Manually Intensive Process – Close and consolidation processes were heavily dependent on multiple Excel workbooks Lack of Transparency – Limited visibility into base level entity financials Disconnected Systems – Consolidations and reporting systems lacked proper integration Solution Implemented Integrated Solution – Used Oracle Financial Consolidation and Close Cloud (FCCS) to streamline reporting Enhanced […]
Oracle ERP Cloud and PaaS transforms processes and creates leverage at large Global Energy Transportation company
Business Challenges Reporting Limitations – International Seaway’s Finance team struggled with inflexible E-Business Suite reporting tools that did not sufficiently support the business Changing Business Structure – After a divesture, International Seaway’s on-premise solution did not optimally meet the needs of the organization for scalability and flexibility Solution Oracle ERP Cloud – Digitally transformed their […]
Oracle ERP Cloud enables renewable energy company to realize a centralized ledger and automate fixed assets depreciation
Business Challenges Lack of Integration in Tracking Tools – The finance team tracked all portfolio transactions through QuickBooks, while all fixed assets were tracked in Excel Cumbersome Reporting – Difficult to generate Financial and Management Reports due to reporting limitations across the Chart of Accounts and various desired management views of the portfolio Scalability – […]
Use of cloud shortens close cycle and provides detailed financial reporting for global leader in Precision Data and Recording company
Business Challenges Manually Intensive Process – Heavy reliance on manual processes and Excel to perform consolidations and other close activities, such as foreign currency translation, intercompany eliminations, and cash flow Lengthy Monthly Close – Lack of data integration and reporting tools extended the monthly close process Solution Enhanced Data and Reporting Capabilities – Supported generation […]
Enterprise planning cloud solution enables better decision making at large Foodservice Procurement company
Business Challenges Reliance on Microsoft Excel – Planning and reporting process heavily relied on large Excel files Manually Intensive Reporting – Process to input data, run calculations, validate results, and create reports was manually intensive and error-prone Time Consuming Consolidation – The consolidation process left little to no time for value-added analysis Solution Integrated and […]
Move to cloud helps manufacturer consolidate financials and improve planning
Business Challenges Long Monthly Close – Process took far too long due to absence of data integration and inefficiency of existing reporting tools Significant Manual Steps – Excel-based process to conduct consolidation, foreign currency translation, intercompany eliminations, bank reporting, and cash flow slowed down end-to-end cycle and also introduced potential for reconciliation issues Solution Implemented […]
Detailed store-level planning drives visibility and accountability at $3B Convenience Store operator
Business Challenges Intensive and Time Consuming Planning Process – Excel planning environment gave limited ability to perform value-added analysis High Risk for Error – Multiple distribution and consolidation cycles throughout the budget process left Cumberland vulnerable No Store Level Planning – Lacked the ability to conduct store level detailed planning Solution Driver-Based Planning, Variance Thresholds, […]
Use of cloud services shortens consolidation process from half-a-day to five minutes at $700M Global Mining corporation
Business Challenges Complex Intercompany Eliminations – Intercompany elimination process was complex and highly manual Cash Flow Challenges – Calculating cash flow took considerable preparation with limited final reporting Inefficient Consolidation Process – Consolidation process took four hours to run, which occurred four to five times per month Solution Enhanced Capabilities – Support generation of income […]
Driver-based models streamline consolidation, budgeting, and reporting from weeks to days at Global Financial Services group
Business Challenges Inefficient and Inconsistent Processes – Eliminations, Equity Pick up, and Account Reconciliation processes conducted during the financial close were sub-optimal Lack of Automation – Lacked automated, driver-based employee planning for back office, and thus, unable to quickly perform what-if analysis Cumbersome, Offline Process – Consolidation of 275+ source inputs for Budgeting and Forecasting […]
Planning and budgeting solution enables scenario modeling and improves reporting at $30B wholesale distributor
Business Challenges Data Accuracy – Error-prone financial planning process resulted from manual inputting of sales and volume data into Excel and Smart View Labor Intensive Data Validation – Spent a large amount of time validating and reconciling data Sub-Optimal On-Premise Solution – On-premise Hyperion reporting environment resulted in various pitfalls for a variety of reasons, […]