Financial Applications
CompuCom Success Story
The Client
CompuCom is a leading IT outsourcing company providing infrastructure management services, application services, systems integration, procurement and consulting. With more than 20 years of IT experience, CompuCom employs more than 11,000 associates across North America.The Challenge
CompuCom needed to escape from Spreadsheet Sprawl. Its Excel-intensive system was inefficient, costing the company time and money. Payroll, benefits, and other related expenses were budgeted at the employee level. And capital budgeting was complex and labor-intensive. Senior managers knew they needed a better solution for financial planning, budgeting, reporting and forecasting. After receiving recommendations from Oracle and several references, CompuCom confirmed US-Analytics' reputation as an industry leader and handed the project over.The Solution
US-Analytics expert team used Hyperion Planning, Workforce Planning, Essbase and Reports to work with CompuCom's PeopleSoft and Oracle Financials data sources to build a custom solution. The result is a timely, accurate and streamlined budgeting, forecasting and reporting process that reduces manual efforts and enhances the overall user experience.The Benefits
CompuCom has experienced dramatic efficiencies in their budgeting and forecasting processes and increased accessibility to more accurate data. Before the US-Analytics' engagement, budget roll-ups took two weeks. Now, they take an hour. Before the engagement, users had to wait on the company's finance team to pull together numbers to see the company's entire budget. Now, the budget is at every user's fingertips, available in seconds and completely secure. And the company's analysis and reporting process is now more timely and relevant to senior management which is a critical factor in strategic planning and operating a business effectively. The result is a company with more efficient processes, more accessible data and better results.Pioneer HFM Success Story
PIONEER
Pioneer Natural Resources Company is an $8 billion independent oil and gas exploration and production company with more than 950 million oil equivalent barrels in reserve. With more than 1,600 employees, Pioneer currently has continuing operations in the United States, South Africa and Tunisia.
BUSINESS CHALLENGE
Pioneer faced extended close periods, stringent Sarbanes-Oxley compliance demands, and increasing stability challenges from its overloaded legacy system.
- Data Access: The legacy system's lack of web enablement complicated remote user usage.
- Data Quality: The absence of detailed audit trails raised a serious concern for the company.
- Close Cycle: The traditional method of passing data files around the company across time zones was time-consuming and error-prone.
- Analytical Reporting: Variance analyses didn't reveal causes even for the “big” picture, and didn't permit necessary drill-downs, pivots, or investigations.
- Regulatory Reporting: Evolving legal entity structure of business demanded ability to view discrete portions of the enterprise.
- Sarbanes-Oxley: Compliance and auditability issues became paramount with the need to provide more timely information and to track multiple data sources.
ROLE OF US-ANALYTICS
Pioneer needed a partner who had the business acumen, finance/accounting experience and systems development expertise to help it implement a new, scalable, flexible solution. To increase the efficiency and effectiveness of Pioneer's reporting functions, US-Analytics:
- Gathered and prioritized business components.
- Designed optimum system to leverage Pioneer's toolset and address needs.
- Implemented Hyperion Financial Management and related components.
- Created and led training around the new system for a diverse user population.
- Delivered user documentation to ensure client self-sufficiency.
RESULTS
- Improved data reliability.
- Reduced close cycle time.
- Faster, easier more detailed reporting and variance analyses.
- Financial statements enabled to meet future XBRL reporting requirements to SEC.
- Automated and streamlined intercompany activities reconciliation.
- Auditabiliy and data source tracking to ledger system.
- Executive dashboards that provide additional insight and understanding to senior management team.