Transforming source to pay
A global power-generation-equipment manufacturer was grappling with a variety of issues across its source-to-pay data and analytics function. Vendor dissatisfaction, high and variable sourcing costs, contract leakages, and inconsistent payment terms all played a part. Using a Cora Data Foundation solution, the manufacturer sourced, structured, curated, and loaded data from multiple businesses, ERPs, and other applications into an integrated data repository. Using this integrated data, the manufacturer was able to monitor key and cross-functional metrics in real time, generate business insights, and support predictive analytics. As a result, the manufacturer was able to create a business impact of $117 million in just one year and increase spend visibility to $21 billion.
Taking control in finance
A leading financial organization wanted to digitally transform to reduce costs, democratize data, and increase innovation. Using Cora Data Foundation, the organization was able to rationalize financial reports, optimize its financial close, improve overhead allocations, and strengthen financial controls. Combined, this led to benefits of around $74 million, including $15 million in savings on financial audits against an annual audit expense of $68 million. In terms of productivity and accuracy, the organization has reduced the time spent gathering and validating data by 30% and has achieved an earnings forecast accuracy of 90%+ year over year.