Helping a leading Egyptian developer of international properties save time, reduce costs, and make better-informed decisions
Key Outcomes
35+ Unified/automated models
2x Budget cycle efficiency
60% reduction in mandays required to finalize consolidated budget
Enhanced visibility into operations at all levels
High visibility and governance into plans, budgets, and actuals
The Client
A leading Egyptian developer of fully integrated destinations, with more than 30 years of experience and a proven track record of sustainable development. The company’s interests include hotels, private villas and apartments as well as leisure facilities such as golf courses, marinas and supporting infrastructure. The company operates in 7 different countries and expanding.
The Challenge
- The client had previously attempted to automate its planning and budgeting processes using a non-Oracle platform but failed due to misalignment between the project implementation team and the business.
- To overcome these challenges, the client decided to move on from its legacy financial systems and implement a complete Oracle Cloud eco-system, including the Oracle EPM suite.
- A key imperative of the project was to include all the 150+ business units under the holding company in the new planning platform and involve end-users in the design and implementation to avoid earlier mistakes.
The Solution
- Constellation’s implementation of the Oracle EPM Cloud suite enabled the company to create a single platform that facilitated distinct Planning and Budgeting processes for Real Estate, Town Management, and Hospitality Services.
- The platform provided a unified solution for end-to-end planning and budgeting processes, including 35+ comprehensive driver-based models covering revenue, opex, capex, and workforce planning, in addition to intercompany eliminations.
- One of the key solutions implemented was the Real Estate feasibility study solution, which allowed planners to simulate conceptual projects from scratch and integrate them with the enterprise budget upon approval.
- Another benefit was the intercompany elimination solution at the cost center level, which produced the budget both before and after elimination. The elimination logic was fully automated, to ensure accuracy and efficiency in the budgeting process.
- To streamline the approval process, an automated workflow was put in place, covering multiple scenarios, reaching down to the cost center level, and spanning different teams within the same business unit.
Outcomes
- 60% fewer mandays required to finalize the consolidated budget
- Enhanced visibility into operations at all levels, enabling comparisons of budget before and after intercompany elimination
- Automated planning and budgeting processes
- High visibility and governance into plans, budgets, and actuals (through automation of the intercompany elimination process)