Unification of budgeting, forecasting, consolidation & close processes
Key Outcomes
Unified Platform for End-to-End Planning
Fully Automated Financial Consolidation & Close
Ability to optimize machine capacity
The Client
By their description, this is, first and foremost, a wellness company. With the aim to improve its customers’ lives, the company manufactures and distributes a lineup of unique products like sterilized tissues, skin-friendly baby & adult diapers, PPE equipment, and natural nutritional supplements. The company helps millions of consumers and their families in over 80 countries across the globe, achieve and sustain their wellness goals.
The Challenge
Over the years, the company’s systems were expanded by internal teams to accommodate evolving business requirements as it grew. However, the solution lacked agility and responsiveness and missed out on several recent key process changes. There was an urgent need for unified and end-to-end budgeting & forecasting and fully automated financial close and consolidation systems to ensure timely group-level planning & reporting
Our Solution
The company was one of the earliest adopters of Hyperion Planning, and on par with their Oracle Fusion implementation, the leadership decided to implement the system using Oracle EPM Cloud and revamp the entire process by leveraging industry best practices. Oracle EPM platform was used to unify planning and budgeting, and to automate financial close and consolidation processes. A single platform enabling three distinct processes:
- End-to-end operational planning processes including sales, production, inventory, purchase, CAPEX, and workforce planning.
- Financial Planning and Analysis
- Financial Consolidation and Close
Functionalities include :
- Ability to reveal machine capacity utilization based on the planned production volumes and routing data, and machine capacity optimization during the planning and budgeting process.
- Ability to report budget and actual data by product and channel
- Fully automated and revamped financial close and consolidation processes
Constellation’s Role
Constellation’s expertise in FMCG manufacturing planning and budgeting processes played a key role in unifying and streamlining the previously derailed exercises and helped achieve uniformity across the board. The company achieved a great degree of visibility over their plans, budgets, and actuals. Constellation also helped revamp the close and consolidation processes.
Outcomes
- Unified, end-to-end budgeting and forecasting models (implemented on Oracle EPM Planning and Budgeting Cloud) for all operating units
- Revamped, automated consolidation and reporting process
- High visibility over plans, budgets, and actuals
- Smoother workflow, security, and collaboration
- System metadata and data synced to source systems