Industry: High Tech
About the Client
Leading precision oncology company dedicated to helping conquer cancer globally through the use of its proprietary blood tests, vast data sets, and advanced analytics.
Business Challenges
The company was facing challenges due to rapid growth. Its existing FP&A system utilized a manual process with data validation, which resulted in lack of transparency and standardization. Although the company had attempted to rollout Oracle EPBCS with help from another vendor, the implementation was not successful.
- Unsuccessful attempt of Oracle EPBCS implementation by another vendor
- Dependency on Oracle Financial Cloud environment
- Need to deliver the project before end of budget cycle
Business Requirements
- Tightly Integrated solution with Oracle Financial cloud, HRMS and ADP with EPBCS.
- Driver based budgeting and planning solution.
- Planning and Budgeting with what-if analysis.
- Real-time financial reporting on group level and entity level
- Real-time variance on Actual vs Budget vs Plan
- Workforce planning and budgeting solution
- Benefits calculation for workforce
- Projection for To be Hire(TBH)
- Covert Excel-based budgeting and forecasting into a centralized solution
The Solution
- Integration between Hyperion and Oracle Financial Cloud through Data Management
- Complete control and ownership of Finance and Budget team
- Improved decision making: management visibility to various entities and corporate level
- Provided end-to-end securities of data and artifacts
- Provided proper training to users on Oracle Smart View
- Provided user manuals for bank users and technical team
The Benefits
- Reduced budgeting and planning cycles by weeks
- Improved forecasting reliability
- Provided familiar user interface for users with full Microsoft Office integration
- Eliminated time lag between when plans are updated, and reports are refreshed
- Reduced cost of ownership through superior application deployment, management tools and packaged data integration
- Laid foundation for making the transition to Enterprise Business Planning
- Managed backup and restore process daily
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