Jewelry Retailer Shines Through StratAlyze Solutions’s Implementation of EPBCS
Overview
A large international and public jewelry retailer based on the needed a complete budgeting and forecasting solution that would remove them from all the challenges they experienced in spreadsheets. They needed a solution that would improve their integration with Oracle EBS to allow a constant comparison of how they were tracking from a variance perspective. StratAlyze Solutions implemented EPBCS to eliminate spreadsheet challenges, scale with the business, and provide a dynamic budgeting and forecasting solution.
Business Challenge
- Buried in spreadsheets causing issues around auditing, accuracy and reliability of their budget data
- Distribution of reporting all manually driven by Finance
- Integrating to Oracle EBS General Ledger was via uploads and downloads in spreadsheets
- Not scalable to extend Forecasting abilities within current budget process
Solutions
- Implemented Oracle’s EPBCS for an integrated P&L, Balance Sheet and Cash Flow budgeting and reporting process
- Detailed product level planning of revenue and costs as well as departmental overhead expenses
- Created alternate views for management reporting of financial and operational metrics
- Built driver based modeling to support projecting the Balance Sheet and Cash Flow
Results
- Provided immediate visibility into margin details in familiar Office tools
- Reduced inefficiencies of manual administrative efforts within spreadsheets and integrations
- Connected directly Oracle EBS and EPBCS to give immediate insights into variances
- Delivered scalable solution that will continue to grow with the business