Standardizing Company-wide Planning, Budgeting, & Reporting with Oracle EPM Cloud
The Situation
A $2B medical supplies company engaged Accordion to work closely with the Company’s leaders to design and deliver an Oracle EPM Planning Cloud Solution to replace disjointed and inefficient offline spreadsheets. Prior to this implementation, the Company did not have a standardized methodology or approach for planning across its business units, and lacked transparency into underlying planning inputs. Our team’s solutions included workforce, product, P&L, and balance sheet planning.
Services
FinTech Advisory
Budgeting/Forecasting Solution Implementation
Reporting & Analytics
The Execution
- Implemented a multi-faceted Oracle EPM Planning Cloud solution to replace disparate offline planning processes.
- Delivered a complex, employee-level workforce planning model with logic varying across employee country.
- Included driver-based SKU and customer planning with the ability to load costs in underlying factory currency, volume allocations, and percentage lifts.
- Integrated workforce and product planning processes with full P&L planning.
- Automatically integrated P&L data to working capital to simplify balance sheet planning.
- Engaged in complex SG&A allocation logic to allocate overhead and product costs across product divisions based on historical actual data distribution.
- Automated data integrations to and from various Oracle & 3rd party source systems.
- Ensured that the overall solution instituted a company-wide planning process and increased visibility for finance leadership.
The Results
Accordion’s driver-based solution instituted a company-wide planning process for the first time, increased efficiency, and provided better visibility for finance leadership. The Company’s leaders can now view and understand the components of the budget/forecast of each of its business units with standardized inputs and outputs.