RiksTV supports rapid growth with Oracle EPM cloud
RiksTV has experienced solid growth since its inception in 2005, and with its 450 ground-based transmitters, its DTT network ranks among the world’s largest. The company’s business expansion in 2016 included the launch of a number of new services—including the RiksTV Junior app for iPhone, and 10 new television channels—driving the need for improved and simplified planning and budgeting processes.
inlumi was hired to implement Oracle Planning and Budgeting Cloud Service.
RiksTV was first introduced to the business-critical advantages of Oracle Planning and Budgeting Cloud Service by Oracle Platinum Partner inlumi at an industry event. inlumi was quickly able to visualise a powerful and very beneficial business case, built on replacing the Excel-based platform RiksTV was working on at the time.
RiksTV is the distributor of pay television in the Norwegian digital terrestrial television (DTT) network. The company offers a wide range of television and entertainment services for people across the country, including over 30 channels, radio and music services, movie rentals, streaming services, and mobile television.
RiksTV is the only television distributor in Norway that provides digital TV and HDTV via antenna and internet. RiksTV has nearly 300,000 subscribers, and its digital channels are available to 98% of all households. RiksTV is owned by Norwegian broadcasters NRK Aktivum (33.33%), Telenor Media Invest AS (33.33%), and TV2 Group (33.33%).
Streamline planning and budgeting processes to improve business strategy in the fast-changing media and entertainment sector.
Implement a powerful, flexible financial solution to support continued growth and expansion of pay television channels, products, and services.
Improve the productivity of the finance team by arming employees with timely, accurate financial data and by enabling planning staff to conduct forecasts based on various business scenarios.
Increase business agility by replacing slow, high-maintenance, error-prone Excel-based platform with a modern and robust planning and budgeting platform.
“Oracle Planning and Budgeting Cloud Service was easy to customize to our specific pay television business and has streamlined processes for everyone on the finance team. We now have full confidence in the data, can analyze what-if scenarios, rapidly answer queries, and support intelligent growth.”
“inlumi provided the experience and competencies needed to make the implementation a success. Its consultants were extremely easy to work with, and delivered exactly what was promised according to schedule.”
Supported sustained growth in the volatile media and entertainment market by implementing Oracle Planning and Budgeting Cloud Service to optimise processes, improve staff productivity, and enhance business agility.
Enabled intelligent business growth thanks to the ability to continually evaluate and explore what-if financial scenarios, empowering RiksTV to choose the right strategy for the fluctuating Norwegian pay television business.
Increased productivity throughout the finance department by streamlining and automating planning and budgeting processes with Oracle Planning and Budgeting Cloud Service and by providing staff with anytime, anywhere access to up-to-date financial information.
Ensured rapid deployment of new planning and budgeting platform—critical in light of RiksTV’s 2016 launch of 10 new television channels—by implementing Oracle Planning and Budgeting Cloud Service in just a few months and without needing to plan or invest in IT infrastructure.
Accelerated and optimised planning and budgeting processes by implementing Oracle Planning and Budgeting Cloud Service to replace a cumbersome, error-prone, slow, inflexible Excel system based on multiple files, hundreds of sheets, and thousands of formulas.
Increased business agility by enabling the finance team to rapidly respond to questions from all areas of the business—for example enabling RiksTV’s CFO to immediately produce advanced data when answering questions in senior management meetings—with full confidence in the credibility of the figures.
Deployed a powerful cloud planning and budgeting platform without needing to change internal processes thanks to the flexibility to customise Oracle Planning and Budgeting Cloud Service according to RiksTV’s existing financial and business practices.