Interserve Captures Reporting Data 80% Faster from 50 Regional Operating Units and in 15 Currencies—Consolidates Group Close in Two Days
 
 

Interserve Captures Reporting Data 80% Faster from 50 Regional Operating Units and in 15 Currencies—Consolidates Group Close in Two Days

Interserve Plc, one of the world’s foremost support services and construction companies, operates in the public and private sectors of the United Kingdom and internationally. The company was honored with two British Quality Foundation 2012 Awards for its design, construction, equipment, and facilities management services.

Interserve used Oracle Hyperion Financial Management to streamline financial consolidation and reporting across 50 businesses, 15 currencies, 12 enterprise resource planning (ERP) systems, and multiple disparate data sources. Regional operating units closed their books 80% faster and Interserve completed its global close in two days. The company boosted finance team productivity with Oracle Hyperion’s intuitive, self-service functionality, which minimized the need for IT team input to create new reports and add new dimensions for interrogating data. Interserve recently upgraded to Oracle Hyperion Financial Management Release 11.1.2.1 to benefit from improved functionality. The company also increased deployment flexibility and cut costs by switching to a virtualized environment.

 
 

 
 

Challenges

A word from Interserve Plc

  • "Oracle Hyperion Financial Management gives financial teams one-click access to timely, reliable, transparent intelligence and turns analytics into smarter decision-making.” – Chris Watson, Accounting Systems Manager, Interserve Plc

  • Simplify and streamline global financial consolidation and statutory reporting for 50 disparate businesses, operating in 15 currencies that engage in activities as diverse as bridge and road building, facilities management for schools and hospitals, and hiring out industrial equipment
  • Standardize data structures and reporting language across 12 ERP systems, disparate data sources, and multiple reporting structures to provide a single, consistent, reliable source of critical business information for key performance indicator (KPI) monitoring and executive board reports
  • Deliver timely, actionable intelligence to 75 accountants, line-of-business managers, and analysts, and enable them to drill into related attributes and hierarchies and interrogate data in multiple dimensions without IT team assistance
  • Accommodate the industry-specific reporting needs of each business unit and region, such as reporting and analysis by project for Interserve’s facilities management and maintenance companies, and by product for organizations engaged in construction, in a single suite

Solutions

  • Completed global close two days after receiving input from 50 diverse business units by replacing multiple instances of Oracle Hyperion Enterprise and spreadsheets with a single implementation of Oracle Hyperion Financial Management
  • Cut the time required for input of monthly, quarterly, and annual financial close data by 80% using Hyperion’s intuitive interface and finance team-centric functionality
  • Automated production of 150 weekly reports on short- and long-term cash flow, month-on-month variables, and sales pipeline analyses for senior executives and board members
  • Built consistent master data with a single set of codes and definitions across all global transactional systems using Oracle Hyperion Financial Data Quality Management to gain a single, reliable source of universally meaningful intelligence for decision-making
  • Boosted productivity of finance teams by using Oracle Hyperion Data Relationship Management to drag and drop data from third-party intelligence or performance management systems, which eliminated the need for rekeying
  • Eliminated the need for IT-team input to build new reports or construct alternate data views
  • Monitored performance against financial and nonfinancial KPIs, such as comparing staff productivity in each business unit and relating the performance of each business unit to profit
  • Cut IT costs by decommissioning legacy analysis and reporting tools and enabling group companies to produce statutory reports that comply with county and region-specific regulations
  • Saved management time by executing reporting jobs from within Microsoft Excel, using Oracle Hyperion Smart View for Office and refreshing statistics with a single click
  • Cut hardware costs and improved deployment flexibility by leveraging the upgrade to Oracle Hyperion Financial Management Release 11.1.2.1 to switch from physical to virtual servers
  • Met industry-specific reporting needs of each business unit and region, allowing reporting and analysis through a single suite for companies as diverse as  facilities management, maintenance, and construction

Why Oracle

"Oracle Hyperion Financial Management is engineered around financial users,” said Chris Watson, accounting systems manager, Interserve Plc. " It gives us the data we need in the right level of detail and drives a common reporting language and set of KPIs throughout a diverse, complex, multinational business. Its finance-team-centric functionality reduces cost by minimizing the need for IT-team input."

Partner

Oracle Platinum Partner Concentric Solutions managed the testing, data migration, and upgrade to Oracle Hyperion Financial Management Release 11.1.2.1. The upgrade took place over a weekend with no disruption to users. Concentric Solutions also provides ongoing consultancy and support and hosts round-table events at which its customers share knowledge and experiences of the Oracle Hyperion suite of solutions.

"Concentric Solutions’ unrivalled knowledge of Oracle Hyperion and in-depth understanding of the reporting needs of a complex multinational organization provided us with a seamless upgrade,” said Chris Watson, accounting systems manager, Interserve Plc. " Their expertise will help us exploit the full functionality of Oracle Hyperion Financial Management Release 11.1.2.1."