A Vertical Edge Case Study

Multinational Financial Services Company

PBCS Implementation

The Client:
The client, through its affiliated insurance companies, markets a variety of insurance and financial products in 49 states, the District of Columbia and Puerto Rico, with subsidiary operations in Santiago, Chile. Some examples of their products are:
• Individual life insurance
• Individual disability income insurance
• Individual annuities
• Group annuities
• Broker/dealer services
The client is committed to building long-term relationships with their customers and providing them with financial solutions as their needs change over time.

The Challenge:
The client experienced challenges stemming from their Legacy ERP and Legacy Planning Solution. In the ERP, the Smart Stream GL’s implementation took place in the late 1990’s. The challenges with this system were:
• Lack of integrated GL/Reporting system
• In-house Forecasting & Budget
• Limited reporting tool functionality – COGNOS, Excel and Access
• Fragmented/Disparate Chart of Accounts

For their Legacy Planning Solution, there were custom built relational databases that took place in the early 2000’s. The user interface was similar to Microsoft Access navigation. It had standardized reports available for pre-determined expense groupings, and their data was pushed to an external data warehouse for reporting and analysis. The challenges with this system were:
• Development/Maintenance was difficult due to lack of support and firsthand knowledge
• Reporting limitations with Excel
• Report maintenance difficult due to lack of hierarchies

The Solution:
Vertical Edge and the client worked together to develop the following goals:
• Select First Class Software Solution
• Minimize Infrastructure Footprint
• Provide scalable applications for future growth
• Fully Integrated ERP
• Timely, efficient and accurate reporting

Fusion Financials Solution Highlights:
• Full integration of Accounts Payable, Fixed Assets, General Ledger and Reporting
• Better controls and security
• Elimination of redundant and outdated reports, Chart of Accounts and Processes
• Cloud Base eliminates need for in house experts to support system
• Focus on configuration rather than customization

Fusion Procurement Solution Highlights:
All vendor purchases will take place in Oracle to streamline invoicing
• Purchase Orders
• Vendor Master
• Payment Terms
Utilized job level approvals on all requisitions
• Dollar amount job level
• Direct manager is approver
• High dollar purchase orders will have multiple level of approval
• Integrated with Accounts Payable and Fixed Assets

Planning and Budgeting Cloud Service Solution Highlights:
• Construct PBCS application using dimension commonality with Fusion ERP
• Utilize cloud integration for direct data processing between Fusion and PBCS
• PBCS Plan Types user for:
Employee Expense Planning
− Capital Expenditure Planning
− Cost Center Expense Planning
− Consolidated Reporting Cube
• Flat File Integration with additional systems
• Automation processes built with EPM Automate scripts
• Planning process includes Budget, Forecast, and Long-Range Plan scenarios
• Calculations built to handle planning processes for Employee changes and Capital Expenses
• Excel Smart View Templates used for direct planning uploads (future project to plan through PBCS)
• Allocation Percentages captured and calculated for external system allocation processing
• Smart View (MS Office based tool) used perform planning processes and analyze and report data
• Standardized, highly formatted Financial Reports available via the web, pdf or excel file

The Success Factors:
• Fusion provides complete and integrated financial management solution
• Fusion provides streamlined procurement processes
• Fusion provides more visibility to procurement actions and details
• Fusion and PBCS provide similar User Interface for easy navigation
• Fusion and PBCS both leverage Essbase Cubes and Smart View for reporting and analysis
• PBCS provides centralized environment for managing the planning process
• PBCS provides extensive, flexible reporting with much lower maintenance needs than previous solution
• Cloud solutions allow for routine patches and maintenance provided by Oracle
• Cloud solutions allows for scalability as future rollout occurs with global subsidiaries
• Implementation required No Infrastructure Investment
• Cloud Solutions involve lower total cost of ownership

Company Annual Revenue:
$2.0 Billion

The Solution Products:
Oracle Planning and Budgeting Cloud Service (PBCS) Oracle Fusion Financials Oracle Fusion Procurement