QDQ media Speeds up Financial Reporting by 24x, Gains Business Agility, and Integrates Seamlessly into Corporate Accounting System
 
 

QDQ media Speeds up Financial Reporting by 24x, Gains Business Agility, and Integrates Seamlessly into Corporate Accounting System

QDQ media is an online-marketing agency, part of the Solocal Group. It provides mainly digital services for midsize companies, such as website creation—with more than 26,000 websites created to date—search-engine-optimization campaigns, online publicity through Google Adwords, and integration of social networks, among other services.

QDQ media has a portfolio of more than 30,000 clients, and as a Google Premium Partner, manages 19,000 Google Adwords campaigns. In June 2011, QDQ media acquired Trazada and Optimizaclick, becoming, between the three of them, the biggest digital marketing agency in Spain. QDQ media owns QDQ.com, a web directory of local business, with an average of 2 million unique users and 8 million seen pages per month.

To encourage its clients’ presence in the online world and help them understand it, QDQ media has developed an innovative social project: Activa Internet. The aim is to broadcast digital content through an online marketing blog and to promote the creation of events and digital training workshops for midsize enterprises and entrepreneurs.

 
 

 
 

Challenges

A word from QDQ media S.A.U.

  • “Transitioning from Microsoft Excel to Oracle Essbase has brought a great deal of performance and flexibility to our business. It shortens our monthly cost-accrual calculation from one day to one hour and provides a solid foundation for financial budgeting and forecasting. In addition, the Oracle solution is really easy to use. It enabled us to reduce the human resources we need for financial consolidation by more than 50%.” – Patricia Rico, Manager, Financial Planning and Control, QDQ media S.A.U.

  • Replace spreadsheet-based reporting tools with an automated system to centralize financial data, increase business agility, and integrate seamlessly into headquarters’ accounting system, ensuring company’s annual reports and tax returns are accurate
  • Reduce time needed to consolidate and compile financial reports from the site in Madrid, a subsidiary in Portugal, and two fully owned, online-marketing agencies, while enhancing data quality for audits and tax purposes
  • Automate and standardize financial reporting processes to reduce reconciliation errors and gain a timely view of sales performance and commission data across multiple market segments—such as printed directories and online advertising

Solutions

Oracle Product and Services

  • Deployed Oracle Essbase to achieve an aggregated view of the company’s financial performance over time, including revenue and cost-accrual calculations for more than 30,000 customers—enabling more accurate revenue forecasts and better-informed strategic decisions
  • Reduced the effort required for month-end financial reporting from QDQ media and its agencies to the corporate parent, Solocal Group, from nine days to only one day each month, enabling timely financial-statement consolidation across the group
  • Decreased the time needed to generate profit-and-loss and cost-accrual reports from one full day to less than one hour
  • Provided financial staff with the means to focus on strategic financial planning rather than data-quality control, enabling the company to reallocate four out of seven persons in the financial department
  • Standardized financial processes—such as inventory-value reporting and account reconciliations—to improve data quality and ensure that historical financial data is fully traceable, including compliance with generally accepted accounting principles and tax-audit standards
  • Increased business agility by enabling QDQ media to provide new services, such as online directories and advertising and become a distribution company for Google AdWords in Spain, running more than 20,000 campaigns each year

Why Oracle

“Oracle Essbase is a high-performing, financial-management system that provides QDQ media with real-time analysis of key customer data, finances, and product profitability. We strongly endorse it because it has visual, easy­to­understand interfaces and is a simple tool to use even by those with no technical background,” said Patricia Rico, manager, financial planning and control, QDQ media S.A.U.

Partner

“We enjoyed working with Oracle partner NovaPraxis because the company understands our need for analysis, information reporting, and key-indicator monitoring. Its consultants helped us build and configure management dashboards to improve insight into business-line profitability and to use Oracle Essbase to its full potential,” Rico said.