Fueling Expansion and Efficiency: How Biggest Chemical Manufacturer Utilized Oracle Enterprise EPM to Strengthen Performance Management
Giant Chemical Manufacturer, recently acquired by a private equity firm and poised for substantial growth through acquisitions, encountered these challenges:
- Acquisition-Driven Needs: Planned acquisitions necessitated an enterprise-wide tool for improved consolidation, close processes, and planning/reporting.
- Inaccuracies and Time Drain: Existing accounting and finance processes yielded inaccuracies and excessive time spent on issue resolution.
- Inefficient Reporting Tool: The current reporting tool’s inefficiency and lack of scalability hindered effective organizational use.
Circular Edge collaborated with Oracle to provide solutions for the biggest chemical manufacturer:
- Unified Enterprise Solution: Oracle Enterprise EPM was employed to meet acquisition-driven needs and enhance performance management.
- Enhanced Accounting Processes: Collaborative efforts optimized accounting processes, minimizing inaccuracies and time wastage.
- Streamlined Reporting: Oracle EPM introduced Financial Reports, Navigation Flows, and Dashboards, drastically improving reporting ease of use.
The implementation yielded significant results:
- 20% Reduction in Consolidation and Close: Periodic consolidation and close process duration decreased by 20%.
- Streamlined Close Process: The close process was streamlined for better visibility and control.
- Real-Time Financial Consolidation: A real-time financial consolidation process was delivered, enabling users to access current data.
- Improved Reporting: Leveraging new reporting tools significantly improved reporting ease for the biggest chemical manufacturer users.
Drew Marine achieved essential benefits:
- Scalable Growth: The enterprise-wide EPM solution was designed to evolve in sync with chemical manufacturer business expansion.
- Enhanced Efficiency: Improved consolidation and close processes and enhanced reporting tools led to better efficiency.
- Accurate and Informed Decisions: Real-time data availability and improved reporting empowered accurate decision-making.
Circular Edge’s strengths and competencies make it a fitting partner for the biggest chemical manufacturer:
- Finance Transformation Proficiency: Expertise in facilitating finance transformation engagements.
- Oracle EPM Cloud Experience: Demonstrated proficiency in Oracle EPM Cloud implementations.
- Project and Change Management: Strong project and change management capabilities.
- Trusted Advisor: Acting as a trusted advisor, Circular Edge championed the vision of EPM and Business Analytics.