Key Performance Ideas is proud to announce that one of the first implementations of Oracle Planning and Budgeting Cloud Service (PBCS) is live with Financial Planning and Sales Forecasting!
Diono is a world leader in providing a line of safe, innovative and high quality juvenile products that exceed expectations at home or on the go. Their products are offered through retail partners in over 50 countries worldwide.
Prior to partnering with Key Performance Ideas, Diono struggled with an inability to consistently pull data from their SAP General Ledger in a timely manner. In fact, all users had to manually enter and add links within MS Excel on a regular basis. Diono realized they required a single repository to meet their planning, reporting and forecasting needs, including typical monthly financial reporting, as well as sales forecasting at product and customer level, and operational forecasting at the entity and cost center level.
Diono selected Key Performance Ideas as their implementation partner for Oracle® Planning and Budgeting Cloud Services ™ (PBCS), a cloud based reporting and forecasting application. The solution implemented consists of a single Planning application with the appropriate dimensionality and functionality necessary to improve financial, sales and operations planning and reporting requirements. The solution facilitates sharing and managing of all financial data and provides additional levels of detail to satisfy the appropriate level of budget and reporting requirements by Entity, Cost Center, Customer , Product Type and Item (SKU).
Key Performance Ideas also supported the implementation of Smart View and Financial Reports, both included in PBCS, to provide users with instant data in familiar format for reporting and analytic needs. Additionally, the Data Management module is leveraged to allow for mapping of SAP data and automated nightly loads direct from the General Ledger.
Two Plan Types Delivered
Key Performance Ideas implemented two plan types: Finance and Sales.
The finance plan type serves two purposes for Diono. It is the source of all actual data for reporting on monthly actuals as well daily updates, and provides needed financial statements. The second purpose is to provide the forecast of expenses and the balance sheet. Additionally, the finance plan type contains the dimensionality and business rules necessary to produce Income Statement, Balance Sheet and Cash Flow Statement by Entity and Cost Center in USD for the entire corporation.
The sales plan type provides detailed planning of revenue at the item level and customer level, pulling actual data from the SAP Accounts Receivable module. Users and analysts now have detailed, reliable information for improved planning by:
- Unit forecasting by Item Level detail by Customer
- Price forecasting by Item Level detail by Customer utilizing unique Pricing Tables
- Analytics on Products and Customer
Dynamic monthly reports were also designed by Key Performance Ideas for Diono to take advantage of Hyperion Planning functionality and provide visibility to any changes made in the underlying data source. In addition to standard financial statements, Key Performance Ideas also created dashboards and consolidating reports.
By partnering with Key Performance Ideas and implementing PBCS, Diono has significantly enhanced their planning processes. Not only did Diono streamline and standardize their financial budgeting, forecasting and reporting process, with the implementation of a sales plan, Diono can complete sales forecasting by customer level by item and price. Additionally, Diono has established consistency across the company as users now utilize the same reports, planning methodologies, and technology. Overall, PBCS and Key Performance Ideas has:
- Helped Diono eliminate spreadsheet challenges, including disorganized and disarray files and links
- Allowed Diono to automate reporting with direct daily feeds from their General Ledger (SAP)
- Provided Diono with unit level global market forecasting
Posted on Thu, October 23, 2014
by Anne Stein