Telefônica Brasil S.A. Reduces Annual Budget Consolidation from Two Days to Two Hours with New Financial Planning Solution
 
 

Telefônica Brasil S.A. Reduces Annual Budget Consolidation from Two Days to Two Hours with New Financial Planning Solution

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Telefônica Brasil S.A., part of Grupo Telefónica, provides local and long-distance landline service, internet access, data services, as well as cable television (TV) access. It has more than 15 million customers between its landline telephone, internet, and TV subscribers.

As the company continued to grow, it had difficulty gathering data and creating the reports needed to ensure timely month-end financial closing, financial forecasts, and budget processes. It relied on cumbersome spreadsheets to drive these processes. With Oracle Hyperion Planning, the financial department has a consistent financial base and no longer spends time manually consolidating data. It then uses Oracle Essbase to produce accurate, timely, and actionable reports that drive more informed business decisions.

 
 

 
 

Challenges

A word from Telefônica Brasil S.A.

  • “Oracle Hyperion Planning and Oracle Essbase brought new dynamism and insight to our company. Our financial department now spends less time compiling financial data and more time analyzing it, which drives better business decisions.” – Wanderson Guerra Leal, Consolidation and Reporting Manager, Telefônica Brasil S.A.

  • Automate budgeting processes and consolidation of the company’s financial results and forecasts to improve accuracy, ensure timely data, and enable more time for analysis
  • Ensure security of the communication provider’s financial data
  • Decentralize budgeting and forecasting processes, which until then had entirely depended on the financial team, to obtain a more collaborative and quickly budgeting and consolidation process
  • Obtain a clear view of company revenue so that its executives can monitor product and service performance and devise new strategies based on those with the greatest potential to maintain the operator and provider’s competitiveness

Solutions

Oracle Product and Services

  • Worked with Oracle Partner CIS Corporate to implement Oracle Hyperion Planning and establish it as the company’s official financial management system
  • Replaced manual, spreadsheet-based financial management processes with the automated solution, enabling the financial team to spend more time analyzing data and less time compiling it
  • Created a single, consistent financial data hub, which aggregates and organizes yearly, monthly, and weekly budgets and updates, eliminating version control issues and creating a single source of financial truth
  • Gave various departments the autonomy with Hyperion Shared Services to insert their own monthly close forecasting data into the system, eliminating the burden on the finance team and accelerating monthly close and planning processes streamlining the process which had previously been much more manual and had completely depended on the financial department
  • Reduced the closing time for annual budget from two days to two hours since it is now an automatic task and no longer manual spreadsheets
  • Gained the ability to generate detailed and segmented financial reports such as profit margin reports for landline telephone customers who are also TV and internet customers or revenue reports by region associated with different product types, providing new levels of insight on financial performance to managers in various company departments such as the commercial, marketing and controlling departments
  • Improved financial data security by defining and implementing access controls for users—a significant improvement over the legacy environment in which any user could open a spreadsheet and change data without an audit trail
  • Automated and streamlined corporate report generation, whereby the operation in Brazil reports the forecasts and accounting results of its individual and corporate customer segments to headquarters in Spain

Partner

Telefônica Brasil S.A. counted on CIS Corporate’s expertise to design processes and to implement and validate Oracle Hyperion Planning and Oracle Essbase.

“We have had a very positive relationship with CIS Corporate thanks to its technical and business experience and its patience in meeting our demands on time. Furthermore, the CIS team trained our users and helped us to accelerate user adoption,” said Ricardo Sujiyama Filho, Financial Consultant, Telefônica Brasil S.A.  

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