Using Oracle Fusion Cloud EPM, the world’s largest independent McDonald's franchisee improves financial planning and consolidation.
“I believe Oracle Cloud EPM is the leading edge in enabling digital transformation from a finance perspective, helping us to implement more agile and flexible ways of working.”
The largest quick service restaurant business in Latin America and the Caribbean, Arcos Dorados has the exclusive right to own, operate, and grant franchises of McDonald’s restaurants in 20 Latin American and Caribbean countries and territories, including Argentina, Brazil, Chile, and Mexico. Since 2007, when the company consolidated its position in the region, it has committed to fundamental success factors: food quality, employment opportunities for young people, support for communities, a sustainable supply chain, diversity and inclusion, and new dining experiences for families. To support these factors, the finance team knew the company needed to democratize financial information across a complex, multicountry environment, while maintaining data governance.
Arcos Dorados relied on Oracle Hyperion for financial planning, budgeting, and forecasting. With its expansive franchise operating across Latin America and the Caribbean, the finance team required deeper and more sophisticated functionality, so it began looking for a new, cloud-based financial planning and budgeting tool.
The things Oracle EPM offers in the cloud are even better than what we could have imagined.
Why Arcos Dorados Chose Oracle
Arcos Dorados chose Oracle Fusion Cloud Enterprise Performance Management (EPM) because of the application’s comprehensiveness and flexibility to support all of the group's markets.
Specifically, three major drivers led the company to choose Oracle Cloud EPM. One, it would eliminate the time and resources needed to customize the on-premises application. Two, the business needed to integrate across markets and break down the information silos created by legacy software that didn’t integrate easily. Third, the on-premises software approach was too difficult to upgrade, thus leading to creeping technological obsolescence. Oracle Cloud EPM solved those issues while helping the company to evolve its financial consolidation and corporate planning.
Using Oracle Cloud EPM erased a division between IT and finance. As a result, the groups have a more consultative approach to operations and how the teams can increase business value. Together they have increased performance and simplified processes, solving business issues related to consolidation, currency calculations, automation, and more.
With Oracle Cloud EPM, Arcos Dorados now has one cloud solution across all its markets—one that is integrated with the company’s ERP system to monitor and run the business with timely and secure information. The company added 550 new functionalities in 2020 via Oracle Cloud EPM, immediately delivering new services that its legacy on-premises software could not. And, the organization did so without any heavy lifting from the development team. This opened new conversations within Arcos Dorados on innovative ways the finance team could generate value.