Oracle Customer Success—IAC/InterActiveCorp

IAC Enhances Financial Operations Scalability to Support International Growth for More Than 150 Media and Internet Properties

We are a diverse, global business with many internet and media properties, as well as frequent acquisitions and divestures. Oracle Managed Cloud Services provides us with the scalability and flexibility to manage a complex organization that supports several finance and accounting management teams.

— Paul Scribano, Vice President, Financial Operations, IAC/InterActiveCorp.

IAC/ InterActiveCorp (IAC) is a leading media and Internet company that operates four strong segments—home advising, publishing, applications, and video. It is comprised of more than 150 of the world’s most recognized brands and products, such as HomeAdvisor, Vimeo, About.com, Dictionary.com, The Daily Beast, Investopedia, and Match Group’s online dating portfolio.

IAC has been ranked by Fortune magazine's annual standing of the world's most admired companies in the internet services and retailing sector for many years. Each month IAC sites have over two billion monthly visits reaching users in more than 190 countries. The company was founded in 1986 and is headquartered in New York, New York and has business operations and satellite offices around the world.

Business Challenge

Enable users across the company’s media and internet service businesses to access multiple financial data views to support unique reporting requirements
Provide flexible support and scalability for emerging businesses—including small internet start-ups and acquisitions—that are growing at varied rates

Manage multiple types of revenue streams from the diverse group of IAC companies within the financial system
Increase back-office agility to more easily integrate new acquisitions with the existing technology platform and support future growth
Minimize system redundancy to improve reliability and gain visibility into individual business units—providing a more comprehensive view of the organization
Maintain excellent application performance with limited maintenance and downtime
Achieve integration between on-demand financial tools and in-house and third-party applications

Implemented Oracle Financials Managed Cloud Service, Oracle Hyperion Planning Plus, Work Force Planning, and Oracle Essbase Plus Managed Cloud Service to enable the company’s various accounting and financial teams to more efficiently manage global internal monthly close cycles
Increased operational scalability with Oracle Financials Managed Cloud Service and Oracle Hyperion Managed Cloud Service, supporting an acquisitive environment for the media and internet company

Leveraged in-system functional capabilities that preclude businesses the need to utilize third-party financial products
Utilized the existing functionality in Oracle Account Receivable to accommodate the different types of deferred revenue streams generated by IAC’s diverse portfolio of companies
Gained operational flexibility to better support the varying needs of numerous media and internet properties by enabling leadership teams to make more accurate and detailed forward-looking business decisions based on current and projected financial data and analysis
Reduced new entity rollout risk and enabled the organization to focus on data analysis, report development, and business structure decisions rather than on technology deployments
Provided greater visibility into financial results and forecasts at multiple financial structure hierarchies, enabling faster analytics and driving better business decisions in human resources, tax provisioning/rate analysis, and cost analysis
Reduced system administration and downtime required for database backups while providing capacity for future growth with the managed cloud computing model—improving system performance for more than 100 Oracle Financials users and approximately 80 Oracle Hyperion users
Integrated Oracle Managed Cloud Services with in-house and third-party applications—such as banking and online advertising applications—to help provide a unified view of the global media and internet business and maintain secure financial systems
Provided various media and internet brand employees with integrated access to business intelligence data, delivering a 360-degree view of financial information and helping improve operational performance by allowing business users to slice data in many formats
Extended the financial operations team with Oracle Managed Cloud Services, enabling IAC to focus on material business issues with the functionality of the Oracle applications, maximizing the value of their Oracle investment
Upgraded to Oracle E-Business Suite Release 12.1.3 and Oracle Hyperion 11.1.2.4 to utilize new functional features and increase integration between Oracle Hyperion and Oracle E-Business Suite modules
Leveraged security features of Oracle Managed Cloud Services to keep systems SOC1 and SOC2 compliant by providing a change control process—ensuring the company’s data integrity and security

Oracle Managed Cloud Services provides a highly available environment that scales to support our global growth. Oracle offers a wide array of applications, consulting, and training which supports our needs.

— Paul Scribano, Vice President, Financial Operations, IAC/InterActiveCorp.