Business intelligence collaborative at large A&D company sparks business alignment and improves software solutions

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 - upport generation of income statement, balance sheet, cash flow and supplemental reporting through Oracle EPM Cloud – Financial Consolidation & Close
  • Aligned Business Units and Improved Processes – Established a Business Intelligence Collaborative (BIC) to enable better partnering and teamwork across business units

Impact

  • Reduced Costs and Existing Projects’ Timelines – Drove down the software and server costs on a multitude of different ongoing projects
  • Increased Solution Quality – Leveraged industry best practices and demonstrated learnings to optimally deliver net new planning, reporting, and analytic solutions across the company’s business segments.
  • Expanded Knowledge Sharing – Fostered cross-business unit relationships that paid dividends by increasing use of best practices across the organization
  • Reduced Cost of Ownership – Reduced total cost of ownership by consolidating support functions