Société Générale is one of the oldest banks in France and one of the largest European financial services groups. Based on a diversified universal banking model, the company has 32 million customers and operations in 83 countries. It provides retail, corporate, and investment banking services, as well as insurance, asset management, and securities products to a growing customer base.
In 2010, Société Générale launched a business transformation initiative, known as “Ambition SG 2015,” that encompassed more than 50 projects. As part of the initiative, the company wanted to consolidate and accelerate its lengthy budget process, from budget data entry within the group’s various units to consolidation at the holding company level. It also looked to improve budget forecast quality and standardize and automate monitoring at every level.
To support budget planning transformation, Société Générale selected Oracle Hyperion Planning, and worked with Oracle partner Micropole to implement the solution. While still in the deployment phase, Oracle Hyperion Planning is showing potential for improving budget data quality and accelerating the planning process at both a local and group level. The company, in early deployment, accelerated the annual budget process by two months while achieving better data and greater agility to respond to changing market conditions.
Société Générale’s selected Oracle Hyperion Planning because it met the organization’s requirements for easy deployment of best practices across the organization, while enabling local units the flexibility needed for their unique requirements. It also integrates easily with Oracle Hyperion Data Relationship Management.
In addition, the organization appreciates that the solution enables users to enter data directly into the company’s PeopleSoft Enterprise financial management modules.
Following an invitation to tender, Société Générale retained Oracle Partner Micropole for two projects: consulting on reorganizing the budget process based on best practices supported by Oracle Hyperion Planning and deployment of Oracle Hyperion Planning.
The bank particularly appreciated Micropole’s ability to mobilize resources at the right time, providing up to 30 professionals during some project phases. It also paid close attention to the timeline to ensure an on-schedule launch. The team completed the implementation in 10 months, in time for the new budget cycle.