https://www.inlumi.com/wp-content/uploads/enterprise-planning.jpg 627 1200 Kaitlin https://inlumi.com/wp-content/uploads/2017/10/logo-inlumi-site.png Kaitlin2017-09-11 11:44:352021-12-23 10:11:03Enterprise PlanningHolmgrens Bil adopts Oracle Cloud for reliable budgeting and forecasting
Holmgrens Bil, one of Sweden’s largest car dealerships, suffered from lack of a complete planning and budgeting process, with a high amount of manual work and data prone to human error. They wanted to start working with a continuous planning process which can enable better insight on a regular basis. Ideally, this would be performed via a fully digital tool where all data is collected and integrated in one place.
In 2018, Holmgrens Bil started looking for a tool which could support the change to a clearer process with trustworthy data, while doing so at a reasonable price.
Need for Change
Holmgrens Bil was working with a complex spreadsheet-based process for their budgeting and forecasting which demanded a lot from administrators to maintain. This process used up too many resources and the final data quality was not satisfying the needs of the organisation.
An annual budget was set once a year, but due to the high maintenance and time-consuming work to keep the forecast rolling, it was rarely updated. At the time that the project was initiated, Holmgrens Bil had a controller that worked almost full-time on updating and maintaining the rolling forecast in Excel every month. Updating the rolling forecast took approximately 6-7 hours before any data could be presented.
Trusted solution for budgeting and forecasting
Before a decision was made, Holmgrens Bil explored several different alternatives. Ultimately, they selected Oracle’s Planning and Budgeting Cloud Service (PBCS) with Essbase and Power BI on top for viewing purposes. This choice was made because PBCS had grown over time to a complete and trusted product for budgeting and forecasting. As Holmgrens Bil aspired to work more cost-efficiently, Oracle Cloud was also considered to offer the most value for money.
Relationship with inlumi
Having had previous experience with Oracle products and a good relationship with inlumi’s commercial manager, inlumi felt like the natural implementation partner. inlumi also showed dedication in finding the right consultant for the implementation.
Challenges
The main challenge was integrating and creating a process around data management to and from the Oracle Cloud solution. This was solved with scripts and automation of manual data loads. An API-based solution was a preferred option, but this was not available.
“Oracle PBCS is great if you would like to have a fully digitalised platform. In projects like this, have an internal project lead with a genuine interest in the solution to ensure that the implementation runs as smoothly as possible. This person should have high-level knowledge of the financial and technical aspects and hold full responsibility for the integration from start to finish.”
Outcome
inlumi understood the importance of allocating the right consultant for the job who has a full understanding of the demands for project. This person should be capable of creating an initial design that is scalable and can grow over time. inlumi made sure to match Holmgrens Bil with a consultant who had the necessary expertise for the project, with a very successful outcome.
Holmgrens Bil now has a more holistic budgeting and forecasting process with accurate data and deeper insight. With a rolling 12-month forecast that’s easy to update and maintain, it has become easier to keep track of goals, respond to organisational changes, and keep the right focus. With manual work reduced, traceability and data quality have also improved.
The budgeting and forecasting process has improved with approximately 70% more effectiveness.
https://www.inlumi.com/wp-content/uploads/enterprise-planning.jpg 627 1200 Kaitlin https://inlumi.com/wp-content/uploads/2017/10/logo-inlumi-site.png Kaitlin2017-09-11 11:44:352021-12-23 10:11:03Enterprise Planning
