Challenges

• 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

• 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.  

Resources

• Telefônica Brasil S.A. Reduz de Dois Dias para Duas Horas a Consolidação de Orçamentos Anuais com Nova Solução de Planejamento Financeiro