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Jewelry Retailer Shines Through ProCore’s Implementation of EPBCS

Overview

A large international and public jewelry retailer based on the needed a complete budgeting and forecasting solution that would remove them from all the challenges they experienced in spreadsheets. They needed a solution that would improve their integration with Oracle EBS to allow a constant comparison of how they were tracking from a variance perspective. ProCore implemented EPBCS to eliminate spreadsheet challenges, scale with the business, and provide a dynamic budgeting and forecasting solution.

Business Challenge

  • Buried in spreadsheets causing issues around auditing, accuracy and reliability of their budget data
  • Distribution of reporting all manually driven by Finance
  • Integrating to Oracle EBS General Ledger was via uploads and downloads in spreadsheets
  • Not scalable to extend Forecasting abilities within current budget process

Solutions

  • Implemented Oracle’s EPBCS for an integrated P&L, Balance Sheet and Cash Flow budgeting and reporting process
  • Detailed product level planning of revenue and costs as well as departmental overhead expenses
  • Created alternate views for management reporting of financial and operational metrics
  • Built driver based modeling to support projecting the Balance Sheet and Cash Flow

Results

  • Provided immediate visibility into margin details in familiar Office tools
  • Reduced inefficiencies of manual administrative efforts within spreadsheets and integrations
  • Connected directly Oracle EBS and EPBCS to give immediate insights into variances
  • Delivered scalable solution that will continue to grow with the business