By Mark Hite, Managing Director, Healthcare, Alithya
When you’re an organization as big as Moffitt Cancer Center in Florida, financing your capital projects can run into hundreds of millions of dollars. These can range from hospital facilities and clinical equipment to large-scale IT systems and more. But for Moffitt—like most large organizations—the job of managing capital planning used to fall to a handful of financial managers using manual spreadsheets and emails. The process took a lot of time, was prone to errors, and wasn’t driving enough value for the organization.
Based on experiences with other clients, Alithya looked to create a modern, cloud-based capital planning program. Leveraging Alithya Capital Portfolio Planning through Oracle Fusion Cloud EPM, we helped Moffitt design and deploy a flexible capital portfolio planning solution that has transformed the way Moffitt manages investments. We started by guiding Moffitt through a five-part “sandbox process” to help the organization think more strategically about its capital investments and set up leading practices to streamline Moffitt’s planning processes.
Today, managers across Moffitt use a central online system to quickly consolidate capital funding requests and track their projects from start to finish. The solution is easy to use, collaborative, online, and everyone has visibility. Alithya also helped Moffitt deploy the strategic modeling capabilities in Oracle Cloud EPM, which helps finance executives weigh long-term investment options and gauge their potential impact on the organization’s bottom line.
The switch to Alithya’s capital portfolio planning solution couldn’t have come at a better time for Moffitt, which was dealing with the financial fallout of the global pandemic. Their investment in Oracle Cloud EPM—backed by Alithya’s rapid, remote implementation—uniquely positioned Moffitt to respond to those impacts faster and with a sharper strategic focus.
“Alithya’s capital portfolio planning solution provides us with a unified platform for optimizing our short and long-term capital planning projects,” says Lori Morrison, CPA, Sr. Director of Financial Analysis and Budgeting at Moffit Cancer Hospital. “We can better plan and track our multi-year projects, capture the capital needs of our departments throughout the year, and streamline every aspect of our budget and spending activities.”