Faster is better when it comes to bringing a product or a service to the market. Even if something used to take a day or two to complete, we typically say it's even better to reduce that time to five minutes.
Skanska, the multinational construction and development company, optimized its global financing process to accelerate time to market for new construction projects. As an added bonus, the IT department did not always need to be involved.
Working in partnership with Oracle, Skanska faced the challenge head-on of getting all its data and reporting in one place. For a construction company that's 130 years old, that's a lot of data. Managers knew that once it gathered data and began exploring outcomes using analytics, the business potential was enormous.
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By applying analytics innovation to all areas of its business, Skanska said it made better decisions regarding sustainability and other environmental factors.
Before migrating to the cloud, Skanska managers would request new functionalities all the time. Conny Bjorling, head of enterprise architecture at Skanska, says his department planned to add those functionalities—but in six months to a year, after we upgraded its system.
"Before, people had to go to IT to order financial reports," Bjorling says. "When we launched Oracle Analytics, the big difference is that we are now on self-service analytics. That also reduced the old process that used to take one-and-a-half days to five minutes. You're getting now into augmented analytics, so the solution is actually helping you analyze your data."
Bjorling says Oracle Cloud is the accelerator that helped change the company become very agile, and to meet its business needs.
"With the cloud, we are able to add new functionalities and features—easily, quickly, and when our users need them," he says. "These things in combination—Oracle Database in the cloud, Oracle Analytics in the cloud, and Oracle Integration in the cloud—you have whatever you need to work with your data in a very effective way."
Migrating to the cloud means that your data is much more secure than it will ever be on-premises. Because the cloud makes processes faster and simpler, it's also easier to focus on specific use cases and see what kind of value they bring.
Skanska managers, like Bjorling, say they've seen that value across the company. Check out the video below to hear more about how the company assembled its Oracle Cloud strategy.
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