Case Study
SEMrush’s Business Transformation Story: How leveraging Oracle Fusion Cloud enabled higher business agility and productivity
Download Case StudyThis case study explains how Oracle Fusion Cloud enabled SEMrush to achieve higher business agility and productivity for better decision support. They leveraged Oracle Fusion to automate the bookkeeping of large volumes of transaction entries. This eliminated human error, reduced time and effort creating reports, and ensured accurate financial records for SOX and audit compliance.
Client:
SEMrush
Industry:
Hi-tech – Marketing Platform
About the Client
The SEMrush started in 2008 as a small group of SEO and IT specialists united by one mission — to make online competition fair and transparent, with equal opportunities for everyone. After eleven years of trailblazing experiments and constant progress, SEMrush has grown into the world's leading competitive research service for online marketing. SEMrush proposes to its customers a full range of the best competitive intelligence solution for all digital marketing spheres. Currently, the SEMrush has over 1000 employees working in 8 offices located in 5 countries and two continents. The SEMrush has offices in the following countries: USA, Russia, Czech Republic, Republic of Cyprus, Poland.
The Business Benefits
A key business requirement was to implement a fully integrated Oracle Fusion Cloud solution (Oracle Cloud Applications) with the other source systems. Through its implementation, Jade Global automated and streamlined the monthly financial close process ensuring consistency, accuracy, and efficiencies using highly standardized processes. With the ability to facilitate global growth, simplify and streamline core business processes, it helped SEMrush manage growth effectively and sustain profitability.
Fusion Cloud applications have the strength of a suite which has the power of fully integrated modules that supports complete business transformation
- Common/unified/standard accounting processes using single ERP (Oracle Cloud Applications) to ensure prompt monthly financial close and management reporting
- Automated transactions booking and its accounting for high volume AP transactions (AP invoices, Debit memos, Credit memos) eliminating manual interventions and saving the user time and effort
- Seamless transaction processing with multiple systems, eliminating the potential of human errors
Business Requirements
Owing to the strong presence of SEMrush’s business globally, the organization continually seeks innovative solutions that will transform its business processes and make them more agile and efficient. To provide their users with a scalable system, which would enable them to comply with regional reporting requirements as well as support financial consolidation on a global scale, SEMrush chose Oracle Fusion Cloud applications. The Oracle Fusion Cloud suite was selected to fulfill business requirements like:
- A robust, integrated, and user-friendly system to produce accurate financial reporting supports finance's best practice processes implementation
- Completeness of the functional models designed to support best practice processes in Accounting and Financial Reporting functions US GAAP based pre-configured accounting module
- Out-of-box standard US GAAP reports
- User-friendly reporting system, including the list of standard preformatted reports and options for customized/configurable report creation
- Flexible and easily configurable Users Access rights to the data (Role Model), which ensures strong security controls preventing unauthorized access and transactions within the system
- Minimization of hardware and software requirements by allowing users to access the system via web browsers (cloud-based solution) to customize the design using internal, consulting companies, or vendor's resources
Business Challenges
High volume transactions and scattered legacy business processes for payables
Manual supplier payment (AP Invoice) application with high volume transactions
The complex approval process for Journals, Purchase Requisitions, Change Orders, Payables Invoices, and Expenses Reports along with Budgetary Control implementation
Banking operations were time-consuming
The Solution:
Facing concurrent HR and Finance challenges that threatened growth and profitability, the company chose Oracle Cloud as the cornerstone and Jade Global as the enabling partner. By leveraging the power of Oracle Fusion Cloud, SEMrush simplified its business processes across functions, reduced overall costs, and set itself up for continued global expansion -- resulting in higher employee satisfaction and better decision-making
With a rich portfolio of Oracle Cloud Applications and having expertise in working with the end-to-end Oracle Cloud Applications Life Cycle Management, Jade Global helped SEMrush roll out the Oracle Fusion Applications. With increased automation, improved efficiency, and reduced manual efforts, SEMrush is now on its way to achieving enhanced and aligned business processes.
The following sub-sections describe how various Oracle Cloud Applications simplified business processes at SEMrush and led to a company-wide digital transformation.
- Solution-focused on designing global business processes rolling out to multiple countries with local compliances.
- Completeness of the functional models designed to support best practice processes in Accounting and Financial Reporting functions US GAAP based pre-configured accounting module
- Oracle Enterprise Performance Management (EPM) integration with Cloud ERP for Budget/Forecast and actuals
- Setup Oracle Enterprise Data Management (EDM) for Chart of Accounts management
Thank you, SEMrush, and Jade Global team. Great work! We all know how complex this project is even without the tight deadlines, so appreciate all the effort.
Evgeny Fetisov, CFO
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