Finance leaders are looking for ways to cut costs, including fast-tracking investments in technologies that automate business processes and improve insights into company operations. That analysis applies to their own organization’s systems and processes as much as to anyone else’s.to make that move.
To ensure that those decisions didn’t inadvertently introduce more complexity for end users or drift from the company’s strategic goals, Oracle instituted a governance model to enable executives to overrule decisions if necessary to meet those goals.Companies that have heavily customized their applications will see a lot of benefit from standardizing and simplifying their business processes, which they can do either before or during their move to the cloud, Guner says.
“It’s easy for the core implementation team to get so excited about deployment or the new features or getting as much technically out of the tool as possible that they end up not focusing enough on the end user experience,” she says. , but some of those models were too complicated for other employees who needed to use the system. While her team’s intent was to eliminate manual work in Excel, the complexity for some end users drove them right back to spreadsheets.
Oracle’s finance team can now close the company’s books, prepare all reporting and required analysis, prepare guidance, and release earnings—as well as publish the 10Q report for the Securities and Exchange Commission—about 50% faster than before, she says.Guner set a goal early on that Oracle’s finance organization would become what she calls a “game-changer” department—one that leads rather than follows other groups.
At Oracle, for example, a finance business partner may see opportunities to introduce new discounting processes based on her analysis of what-if scenarios using Oracle EPM Cloud. She would lead that effort, working with sales leaders, product marketing, engineering, data center management, and line-of-business units to review the findings and explore options.
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