Overview

The customer is a Cloud storage and Data backup company that is a pioneer in robust, scalable low cost cloud backup and storage services. It is an Industry leader providing Personal online backup to enterprise scale data storage solutions to Business and Consumers. Over 15 years of hyper growth, customer has signed up more than 700,000 customers in 175+ Countries. Customer’s budgeting system, based on excel, presented number of challenges. Tangenz partnered with Customer to implement Oracle Planning Budgeting and Cloud Service (PBCS) to deliver a modern EPM Cloud solution to enable customer to accelerate their impressive growth.

Challenge

Customer’s primary Planning, budgeting and forecasting started out in excel spreadsheets but it wasn’t able to keep up with the rapid growth over the years. Top challenges were

  • Customer’s Accounting and FP&A teams needed the Planning and Budgeting data to be tightly integrated with accurate Actuals from their NetSuite ERP platform
  • Ability to create detailed Workforce planning at an individual employee level including all the compensation, benefits and tax rates
  • Allocation of expenses like Workforce
  • Leverage modern visualization tools to view Budgeting and forecasting data
  • Flexibility to produce forecast roll-ups in SEC and non-SEC formats
  • Create forecasting at Product line level as well as at different roll-ups
  • Driver-based Capital budgeting
  • Generate and maintain various scenarios and versions for archiving as well as What-if scenario planning
  • Plan and forecast for Short and long term (Long range planning)
  • Ability to generate budgets by departments including variances with actuals by month
  • Easy way to automate calculation of key Business and Management KPIs
  • Increase Collaboration with growing teams located in different locations across the globe

Solution Highlights

In close partnership with Tangenz, the customer decided to incorporate Oracle Planning and Budgeting Cloud Services (PBCS) to implement an EPM solution to improve and enhance on their current Planning, Budgeting & Forecasting process. Key highlights of the PBCS solution delivered by Tangenz were

  1. Metadata integration with NetSuite ERP – Set up PBCS Dimension hierarchy based on Chart of Accounts and Segments in NetSuite ERP including ability for Metadata sync for future changes to Chart of Accounts to automatically flow to PBCS dimension hierarchy
  2. Automated Integration with NetSuite ERP – Leveraging Saved searches in NetSuite ERP, data management in PBCS was configured to pull actuals automatically
  3. Revenue Modeling – Built complex driver-based models to enable Revenue modeling for Subscription-based and Usage based Revenue
  4. Workforce Planning – Created models to enable planning for all types of compensation (Salary, Bonus, Stock options, Profit sharing, Benefits, Merit increases etc.) at an individual employee level. Enable planning for taxes by 30 US States to account for different tax rates by each state
  5. Set up multiple Scenarios and Versions to enable What-if scenario planning
  6. Set up granular planning for 2-year rolling and aggregated planning for +3 years to provide a combination of Short-term and long range planning
  7. Create multiple complex business rules to automate calculation of key business and management KPIs
  8. Delivered Income Statement, Balance Sheet and Cash Flow reports
  9. Set up alternate hierarchies to allow forecast roll-up for SEC and non-SEC formats
  10. Created forms and business rules to enable driver-based Capital budgeting
  11. Flat file integration with HRIS system for loading employee roster for Workforce planning
  12. Set up role-based security assignments for all licensed PBCS users

Benefits

Utilizing the PBCS solution delivered by Tangenz, customer is enjoying the following benefits

  • Timely information and insight due to automated Metadata and data integration with NetSuite ERP
  • Reduce Planning and Forecasting cycle times by making it simpler to collect inputs and assumptions across the organization
  • Improve forecast accuracy with predictive planning, allowing users to run multiple scenarios on the fly for stakeholder and management meetings
  • Flexible and modern reporting across both SEC and non-SEC formats
  • Tighter collaboration with business stakeholders to drive better decision-making.
  • Increased control and secure visibility over Plans, budgets and forecasts

If you need any help with your Oracle or NetSuite Planning & Budgeting Implementations, Please drop a line here. Our EPM Cloud experts will contact you promptly.