Gilbarco Veeder-Root Enables Analysts to Spend 25% More Time on Data Analysis by Automating Standardized Enterprise Performance Management
 
 

Gilbarco Veeder-Root Enables Analysts to Spend 25% More Time on Data Analysis by Automating Standardized Enterprise Performance Management

  • Oracle Customer:  Gilbarco Veeder-Root
    Location:  Greensboro, North Carolina
    Industry:  Oil and Gas
    Employees:  2,500
    Annual Revenue:  $500 Million to $1 Billion

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Gilbarco Veeder-Root, a global leader of integrated technology solutions for the retail petroleum industry, provides fuel dispensing equipment, flexible payment and point-of-sale systems, forecourt merchandising, remote convenience-store site management, food service ordering, and fuel management services.

The company wanted to accelerate its monthly financial close and gain more comprehensive visibility into its financial position to increase profitably in the volatile oil and gas sector―in which fuel prices can vary significantly from one week to the next. Gilbarco Veeder-Root deployed Oracle’s Hyperion enterprise performance management solutions, including Oracle Essbase, to standardize and accelerate financial reporting. Oracle’s solutions enabled the company to replace its manual and labor-intensive spreadsheet-based approach to enterprise performance management. Gilbarco has used Oracle Essbase to streamline reporting of sales, orders, invoices, inventory, and more in North America.

Using Oracle’s Hyperion solutions, the company has extended visibility into performance across various regions and lines of business. Gilbarco Veeder-Root gained the ability to complete the monthly financial close 15% to 20% faster for more agile and informed decision-making. In addition, financial analysts have upwards of 25% more time daily to analyze data and identify strategies to optimize profitability.

Gilbarco Veeder-Root is expanding its Oracle enterprise performance management footprint by deploying Oracle Hyperion Financial Management, Oracle Hyperion Financial Data Quality Management, and Oracle Business Intelligence Enterprise Edition.

 
 

 
 

Challenges

A word from Gilbarco Veeder-Root

  • “In the volatile oil and gas sector, access to the right data at the right time is imperative. Oracle’s technology has provided the enhanced data capturing, analysis, and reporting that we need to keep pace as an industry leader.” ‒ David Kennedy, Director of Finance, Gilbarco Veeder-Root

  • Enable the global company to extend visibility into performance and key financial metrics, which requires it to roll up data from multiple regions, using various currencies
  • Improve ability to analyze gross-to-net revenue comparisons for sales of the company’s fuel dispensing and point-of-sale systems, which involve complicated pricing and incentive schedules
  • Accelerate monthly financial close and reporting processes and put critical business information at the fingertips of line-of-business managers without IT team intervention to enable more agile decision-making about the company’s fuel-station equipment and services operations

Solutions

Oracle Product and Services

  • Deployed Oracle’s Hyperion enterprise performance management solutions, including Oracle Essbase, to extend visibility into the company’s performance across various regions and lines of business, which include fuel dispensing equipment, systems used for flexible payments and at point-of-sale, as well as for convenience-store site management, food service ordering, and fuel management services
  • Streamlined reporting and gave the company’s financial analysts upwards of 25% more time daily to analyze data and identify strategies to optimize profitability
  • Gained the ability to complete monthly financial close and reporting 15% to 20% faster for more timely and actionable insight
  • Eliminated cumbersome and time-consuming spreadsheets and gave several hundred line-of-business managers from sales, marketing, finance, and operations the ability to access critical business information―including sales and marketing, invoice, payroll, warranty, spare parts, and inventory data―when they need it and without IT team intervention―ultimately enabling more informed and rapid decision-making
  • Enabled the organization to optimize the use of data from its enterprise resource planning environment for enterprise performance management, benefitting from the ability to refresh data cubes multiple times each day
  • Improved visibility into pricing, as well as product mix and inventory for a better understanding of the company’s financial position, helping it to compete profitability in a the highly volatile oil and gas sector
  • Improved visibility into customer profitability with an automated customer-profitability model, which incorporates credit score information

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