ReachLocal Provides Global View of Financial Data, Accelerates Monthly and Yearly Financial Closes with Enterprise Resource Planning System
 
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ReachLocal Provides Global View of Financial Data, Accelerates Monthly and Yearly Financial Closes with Enterprise Resource Planning System

ReachLocal’s mission is to help businesses all over the world reach more local consumers online via its search engine marketing, display advertising, and internet marketing products and services. ReachLocal also provides its online marketing technology and services to advertising agencies, online-marketing and Web-solution partner companies, and national brands. The company has more than 68 locations throughout the United States, Canada, Australia, the United Kingdom, Germany, the Netherlands, Japan, and Brazil.

 
 

 
 

Challenges

A word from ReachLocal

  • “Oracle E-Business Suite Release 12.1 is an integrated financial management system that enables us to scale and add additional modules as needed, as we continue to expand worldwide.” – Charles Wong, Director, Financial Systems, ReachLocal Partner Name for Oracle.com Search – Innowave Technology LLC

  • Provide a robust and integrated accounting and financial management reporting system that is cost effective and world class
  • Meet financial and human resources (HR) management requirements and gain OLTP processing capabilities necessary to support rapid growth and global statutory transaction/reporting compliance, including Sarbanes-Oxley, local subsidiary statutory reporting, and US generally accepted accounting principles (GAAP)
  • Support integration with the company’s custom advertising platform to create an integrated and definitive financial system of record for all transactions and customer records
  • Improve ability to adopt industry best practices for managing an online advertising business

Solutions

  • Refreshed data between Oracle E-Business Suite and the Oracle Essbase automatically every four hours, enabling ReachLocal to save four to five worker hours previously needed to pull an aggregated global view of financial performance.
  • Consolidated financial and accounting information for the company’s online advertising services with Oracle Financials, standardizing accounting procedures globally to enable a more timely and accurate view of the company’s financial position—ultimately improving decision-making and planning for its product offerings
  • Accelerated the month- and year-end financial close processes
  • Gained a highly reliable, multicurrency, and multiregulatory solution to improve the company’s ability to manage international operations—in the United States, Canada, Australia, the United Kingdom, Germany, the Netherlands, Japan, and Brazil—(including statutory requirements) and facilitate entry into new markets
  • Provided effective internal controls through the use of systematic workflows
  • Leveraged Oracle Business Accelerators to implement the solution in just five months

Why Oracle

“We saw great benefit in our ability to quickly deploy Oracle E-Business Suite using Oracle’s business accelerators. Plus, the system is highly flexible and designed to support the rapid, multinational growth and complexity of our business. And, given the broad adoption of Oracle within the internet industry, the system experience in our existing finance organization made implementation easier. In addition, Oracle experience in the overall finance labor pool makes it easier to scale our finance organization along with the business,” said Ross G. Landsbaum, CFO, ReachLocal.

Implementation Process

“We began with Oracle E-Business Suite implementation workshops in February 2012, and went live on July 1, which was really fast-paced for our project’s size and scope. We achieved a successful, rapid implementation through the use of Oracle Business Accelerators,” said Charles Wong, director, financial systems, ReachLocal.

Partner

“We selected Innowave Technology as our implementation partner due to the company’s proven track record and expertise using the Oracle Business Accelerators methodology. Innowave Technology helped with our implementation from beginning to end,” Wong said.