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By MTN Group—06 July 2020
Johannesburg-based MTN Group offers cellular, internet, and mobile money-transfer services to 300 million subscribers in 23 African and Middle Eastern countries.
Dependent on spreadsheets for much of its budgeting, financial reporting, and tax compliance, it ran into data-entry errors, differing calculations, and numbers that had been updated in some places but not others. As a result, its financial processes were too slow and error-prone, especially for a company that needed to become ever-more digital and agile.
MTN wanted to simplify its application portfolio and standardise its processes to move faster, increase accuracy, and ultimately boost workforce effectiveness.
“One of the big benefits we've seen with Oracle Cloud EPM reporting is having one version of the truth. Standardised reporting is very important for us because you need to trust the numbers,” says Chris Badenhorst, Senior Manager, Systems at MTN Group.
MTN Group estimates that Oracle Cloud EPM has helped it reduce its head-office budget preparation time by 50%, because when its people were emailing spreadsheets around, every time a number changed, someone had to reconsolidate and re-aggregate the numbers. What’s more, company finance leaders and other executives now have access to the same, accurate numbers.
Meanwhile, by implementing Oracle Cloud EPM’s tax reporting application, MTN has shortened the reporting cycle and strengthened tax-provisioning oversight across its 23 operating geographies. Now, tax provisioning calculations and their comparisons with the group effective tax rate are done monthly instead of quarterly.
Previously saddled with high maintenance costs for its various financial applications, MTN has lowered its costs by standardising on one cloud-based platform.
”If you are looking for a full-suite solution, there is actually no other vendor in the market to consider,” concludes Badenhorst.
The Oracle Cloud offers a complete suite of integrated applications for Sales, Service, Marketing, Human Resources, Finance, Supply Chain and Manufacturing, plus Highly Automated and Secure Generation 2 Infrastructure featuring the Oracle Autonomous Database. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.
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