Pioneering finance change
Leveraging the next-gen Oracle cloud platform at the UK’s biggest commercial broadcaster.
Watch our on-demand webinar to learn how ITV achieved value with Oracle Cloud:
Significant growth and a challenging, fast-paced market has increased demand for high quality insight and business partnering value from Finance. An opportunity to move to the Oracle EPM Cloud was identified to implement a next generation platform which could evolve alongside ITV’s ambitious targets for years to come.
In early 2018, ITV partnered with inlumi and mobilised a project to select and implement a new group consolidation solution. ITV have a Cloud-first strategy and, having recently implemented Oracle’s Fusion Cloud ledger for its largest business unit, Oracle’s Cloud Consolidation solution (FCCS) was identified as the optimal solution to deliver business benefit.
Adopting an iterative design approach, offering accelerated build and increased insight during design, the team blended the control and governance of traditional waterfall approaches with the benefits of agile which, alongside FCCS’s pre-built functionality, allowed the project team to stand up a working prototype quickly and increase engagement throughout the design process.
ITV’s emphasis on data quality meant significant effort was invested to analyse historical balances and reconcile these to FCCS consolidation entries. The return on investment for Finance was increased transparency on the nature of historic adjustments and analytic benefits.
Pioneering a relatively new technology was underpinned by a strong partnership with Oracle to navigate and troubleshoot technical challenges, understand the development roadmap’s impact on the project and embed the maintenance and testing process required to operate within a modern, SaaS model.
The project was guided by ITV’s production-level focus on quality, embedding the same level of expectation and excellence in all elements of the organisation that is required to deliver the high-calibre productions that ITV create. This focus was immediately evident on go-live. Additional user support, a focussed change management responsibility and a robust communications approach led to a smooth go-live and the solution achieving a high level of adoption and user approval in the first few months of operation.