IAC Scales for International Growth While Supporting More Than 150 Media and Internet Properties
 
 

IAC Scales for International Growth While Supporting More Than 150 Media and Internet Properties

  • Oracle Customer:  IAC
    Location:  New York, New York
    Industry:  High Technology
    Annual Revenue:  $1 to $5 Billion

IAC is a leading media and internet company focused in the core areas of search, applications, online dating, local advertising, and media. Ranked by Fortune magazine’s annual standing of the world’s most admired companies in the internet services and retailing sector for many years, IAC’s network of sites has more than a billion total monthly visits in over 30 countries, and it is the eighth-largest network in the world. The company is headquartered in the Chelsea neighborhood of New York City with business operations and satellite offices around the world.

 
 

 
 

Challenges

A word from IAC

  • “We are a diverse business with a multitude of internet and media properties growing at varying rates, as well as frequent acquisitions and divestures with a global reach. Oracle Managed Cloud Services provides us with the scalability and flexibility to successfully manage an expansive and complex organization that supports several finance and accounting management teams.” – Paul Scribano, Vice President, Finance, Mindspark Interactive Inc., part of IAC Search and Media Inc., IAC

  • Enable users across the company’s media and internet service businesses to access multiple views of financial data to support unique reporting requirements
  • Provide flexible support and scalability for emerging businesses—including 50 to 60 small, internet startups and acquisitions—that are growing at varied rates
  • Increase back-office agility to more easily integrate new acquisitions with the existing technology platform and support future growth
  • Gain ability to meet various global financial regulations while operating just one internal financial system
  • Minimize system redundancy to improve reliability and gain visibility into individual business units, providing a more comprehensive view of the organization
  • Maintain excellent application performance with limited maintenance and downtime
  • Achieve integration between on-demand financial tools and in-house and third-party applications

Solutions

  • Used Oracle Financials Managed Cloud Service, Oracle Hyperion Planning Plus, and Oracle Essbase Plus Managed Cloud Service to enable various accounting and financial teams to more efficiently manage financial analysis and reporting deliverables and internal monthly close cycles—cutting an entire business day from the process
  • Increased operational scalability with Oracle Financials Managed Cloud Service and Oracle Hyperion Managed Cloud Service, supporting revenue and personnel growth for a multitude of media and internet brands and products
  • Gained IT flexibility to better support the varying needs of numerous media and internet properties by enabling leadership teams to make forward-looking business decisions based on current and projected financial data and analysis
  • Used the integrated financial system to help complete financial structure design and rollout for new entities in just 30 days—60 days faster than it previously took
  • Reduced new-entity-rollout risk and enabled the organization to focus on data analysis, report development, and business structure decisions, rather than on technology deployments
  • Provided greater visibility into financial results and forecasts for multiple financial structure hierarchies, enabling faster analytics and driving better business decisions in human resources, tax provisioning/rate analysis, and cost analysis
  • Reduced system administration and downtime required for database backups while providing capacity for future growth with managed cloud computing—improving system performance for more than 100 Oracle Financials users and approximately 80 Hyperion users while enabling financial system engineers to shift focus to business support
  • Integrated Oracle Managed Cloud Services with in-house and third-party applications—such as banking and online advertising applications—to help provide a unified view of the global media and internet business and maintain secure IT systems
  • Provided media and internet employees of IAC’s various brands with integrated access to business intelligence data, delivering a 360-degree view of all corporate information and helping improve operational performance by allowing business users to slice data in many formats
  • Planned to upgrade to Oracle E-Business Suite Release 12 to utilize new functional features and increase integration between Oracle Hyperion and Oracle E-Business Suite modules

Why Oracle

“We selected Oracle Managed Cloud Services to provide unlimited scalability to support overall growth on a global level. The cloud services support system provides for a consistently stable environment for our data, system administration engineers, and end user community. In addition, Oracle offers not just the cloud support services, but also a wide array of software applications, consulting, and training which supports our global business,” said Paul Scribano, vice president, finance, Mindspark Interactive Inc., part of IAC Search and Media Inc., IAC.