Challenge
Tackling finance complexity, fragmentation, and data disparity across the board
The entertainment conglomerate had just undergone a merger, and the merged entity was looking to integrate more than just its content library. It needed better business and systems integration as well. The company's financial planning and analysis (FP&A) function aimed to be an agile, trusted advisor to the business, but fragmented systems and siloed financial processes stood in the way. It also struggled with a disparate technology stack. The multiple ERPs and more than 14 planning tools caused data inconsistencies and required considerable manual intervention. The absence of a centralized data system led to data disparity, limiting transparency and governance and making forecasting incomplete and inconsistent.
These challenges resulted in a lack of trust in data, slow decision-making, inefficiencies in planning and reporting, missed opportunities for insights, and increased costs. For example, the monthly planning cycle took up to 25 days to complete, rendering the forecasts irrelevant by the time the CFO received them.
The company's complex organizational structure meant that many business divisions had unique FP&A needs. With a dozen distinct revenue models and planning processes across different business segments, consolidating and analyzing data was a challenge. A lack of a unified chart of accounts and a standardized planning model hindered the finance team's ability to make accurate forecasts and provide guidance to stakeholders. Meanwhile, an impending SAP S/4HANA implementation meant that the company needed a comprehensive solution and enterprise performance management (EPM) technology that would integrate seamlessly with this new ERP.
To add to the complexity of the challenge, it had just kicked off the intricate process of post-merger integration. With business models shifting, organizational structures evolving, and roles being redefined, designing a stable process became a moving target. The baseline kept shifting, forcing process design to stay fluid far longer than expected.
Solution
From complexity to clarity: A data-led, holistic financial planning overhaul
Genpact's expertise in advanced technology and data-led finance transformation made us the ideal partner for the media conglomerate's transformation journey. We crafted a comprehensive solution centered around three key pillars: optimizing the planning processes, overhauling the technology landscape, and adopting a data-led integration strategy.
Building a trusted, scalable data foundation for unmatched accuracy and control
Recognizing the need for reliable, real-time data, Genpact implemented a finance data lake hosted on Snowflake, providing a centralized repository for all financial data for planning and analysis. The data lake transformed and cleaned data from various source systems to ensure consistency and accuracy. The integration between the data lake and Oracle Cloud EPM enabled automated and seamless data flow and improved data accuracy, reporting, and analytics. A domain-driven governance model was established to maintain data accountability and control throughout the organization.
Optimizing the financial planning technology landscape for long-term success
Given the company's focus on scalability and integration, Genpact proposed Oracle Cloud EPM as the preferred solution for financial planning and analysis, supported by cutting-edge technology and data architecture. After retiring over 14 legacy EPM systems and simplifying the overall planning process, Oracle Cloud EPM became the backbone of its financial planning, offering a single platform to manage all revenue, expense, and consolidation planning. The Oracle system was designed to seamlessly connect with the company's future SAP implementation, creating a cohesive technology ecosystem. Our comprehensive approach to transformation meant that the adoption of Oracle Cloud EPM and new workflows was supported with robust change management, employee training, and communication.
Unifying financial planning and enabling smarter decisions
After identifying gaps and opportunities through workshops, we recommended a unified planning model across all business segments to ensure consistency and standardization. We collaborated with the company to design a consolidated planning process that aligned with the future SAP S/4HANA chart of accounts and business hierarchy. This meant standardizing six fragmented Excel-based revenue models from two business segments into one unified, streamlined, and automated revenue forecast model in Oracle Cloud EPM, handling more than 100,000 contracts with unique conditions and rate types, spanning over 250 brands. We also simplified and standardized cost models, enabling consistent drivers and more granular planning to improve forecasting accuracy and explainability. To enhance long-term planning visibility, we introduced an 18-month rolling forecast and harmonized planning methodology and drivers, building the blueprint for a seamless EPM solution.
Impact
Centralized data. Simplified tech. Seamless collaboration. Smarter decisions
The results of this strategic change have been transformational. It has enabled the company to position itself as a future-ready media leader, equipped with systems that simplify operations and enhance decision-making. Key outcomes include:
Shorter planning cycles: What once took 20 to 25 days now takes just 3 to 5 days, empowering the finance team to provide timely insights that drive actionable decision-making
Improved forecast accuracy and transparency: A unified planning model and a centralized data lake have reduced inconsistencies, enabling reliable and transparent forecasts across all business segments
Enhanced business integration: The alignment of planning processes, chart of accounts, and revenue models has fostered seamless collaboration, more effective data consolidation, and better insights
Simplified planning technology: The implementation of a single Oracle Cloud EPM solution has streamlined planning and consolidation processes, eliminating the need for manual consolidation and allowing for better data integration and reporting
Increased long-term visibility: The introduction of an 18-month rolling forecast has provided executives with better visibility into future revenues and financial performance, enabling data-driven strategic planning aligned with industry trends
Cost optimization and productivity gains: Automation and streamlined processes have improved planning accuracy, boosted productivity, and identified areas for cost savings, establishing a foundation for greater financial agility
The new standard in enterprise FP&A
The media conglomerate's FP&A transformation highlights what's possible when an enterprise embraces innovation and a bold strategy. Equipped with scalable technology and processes that turn complexity into clarity, the company is poised to thrive in an ever-evolving media landscape.