By tobyehatch-Oracle on Nov 23, 2015
By Guest Blogger Chris Grouchy
Each year at Oracle’s annual OpenWorld conference, we unite thousands of customers from around the world who leverage Oracle products and solutions to help them continuously improve their business processes. At Oracle OpenWorld, we showcase the innovation that happens inside these companies and, indeed, this year was no exception.
Last month, we honored some of our most pioneering customers for their outstanding performance improvements and internal innovations in Enterprise Performance Management (EPM). The winners went above and beyond to transform and innovate their EPM business processes using Oracle solutions. This blog post highlights the winners of the 2015 Fusion Middleware EPM Innovation Awards, how they use Oracle solutions to impact their businesses, and why they were recognized.
Amazon received one of three 2015 Fusion Middleware EPM Innovation Awards. Before implementing Oracle Hyperion Financial Close Management (FCM), Amazon's financial close process took between 15 and 20 days to complete. With the help of The Hackett Group as their implementation partner, Amazon now reconciles and reports on 16,000 accounts every day of the close process (rather than only once or twice a month) providing much needed visibility and accuracy, and enabling them to close in one hour. In addition, 80% of these accounts are now reconciled automatically without intervention. Amazon was also able to incorporate all key statutory reporting requirements into Oracle Hyperion FCM which enables them to centrally manage the creation of their statutory reporting.
Tampa International Airport
Oracle also recognized Tampa International Airport with a 2015 Fusion Middleware EPM Innovation Award. This organization successfully implemented a number of analytics solutions designed to revamp their Enterprise Performance Management (EPM) and Business Intelligence (BI) processes. Using these solutions, Tampa International Airport was able to add new flight routes which have generated entirely new sources of revenue for them. In fact, Tampa International Airport has increased its sales win rate by 30% since implementing the solution. They can also properly manage key assets more effectively now-- such as its parking space utilization-- through smarter analytics. In addition, Tampa International Airport is now able to efficiently manage its people and resources, and accurately forecast passenger growth.
Oracle’s third recipient of a 2015 Fusion Middleware EPM Innovation Award is Serta Simmons. This company uses multiple Oracle Enterprise Performance Management products to help manage the financial close process. Serta Simmons has implemented Oracle Hyperion Financial Management, Data Relationship Management, and Essbase with the BI Foundation Suite which, together, have resulted in the company being able to reduce the time it takes to consolidate by 5 days. Managing reporting that used to take days and hours is now reduced to taking only minutes and seconds. Serta Simmons will be implementing Oracle Hyperion Planning in the near future to further its strategic oversight and governance over its financial management processes, and have their sights set on visualization and mobility after that.
We would also like to recognize the following nominees for a 2015 Fusion Middleware Innovation Award for their outstanding achievements: MD Anderson, Wilsonart, HomeStreet Bank, Cheniere Energy, Boeing, UNS Energy, Terumo, and Enel. We wish you continued success with your Oracle solutions and applaud your innovative achievements.
Oracle OpenWorld 2016 is set to take place September 18–22, 2016 in San Francisco, California. To learn more about the event and how you can be part of it, please click here.
To learn more about Oracle Enterprise Performance Management solutions, click here.