Optimizing Planning and Reporting Processes: How Leading Bookselling Company Transformed with Oracle Enterprise EPM
The leading Bookselling Company utilized Infor’s on-premise budget tool to support its planning and reporting activities, allowing Excel usage, but encountered significant challenges, including:
- Efficiency in Planning: Challenges in streamlining the planning process and generating advanced analytics.
- Dependency on Excel: Heavy reliance on Excel for modeling plan data, hindering efficiency and consistency.
- Planning Complexity: Need to simplify planning procedures for users through driver-based techniques.
To tackle these challenges, this company opted for Oracle Enterprise Planning & Budgeting and Narrative Reporting, joining hands with Circular Edge, renowned for Oracle Cloud expertise, to deliver solutions such as:
- Enhanced Source System Integrations: Integration improvements yield faster and better analytics.
- Standardized Business Rules: Reduced Excel dependency by implementing standardized rules in Enterprise Planning & Budgeting.
- Driver-Based Planning: Introduction of driver-based planning techniques to simplify the planning process.
The implementation produced remarkable outcomes:
- 25% Reduction in Planning Cycle: Annual planning cycle time shortened by a quarter.
- Enhanced Calculation Efficiency: Calculation time for stock ledger and inventory models decreased from 14 hours to 60 minutes.
- Real-Time Plan Consolidation: Delivered real-time consolidation process to users.
- Improved Reporting: Utilization of Financial Reports, Navigation Flows, and Dashboards improved reporting accessibility.
The achieved benefits were substantial:
- Faster Plan Creation and Publication: Significant reduction in time needed for annual plan creation and publication.
- Transparency in Planning Results: Increased transparency achieved through driver-based planning techniques.
- Improved Ease-of-Use: Enhanced user experience with improved access to critical reports.