Erik Torseth, Vice President of Financial Planning System and Reporting for Homestreet Bank, joined Oracle at Collaborate to talk about what they have been doing with Oracle EPM products, more specifically with Oracle Hyperion Planning. Homestreet Bank is using Oracle Hyperion Planning for financial reporting, planning, forecasting, budgeting, and much more!
Prior to their implementation, they relied on a tool that was heavily Excel based to perform all of these functions. While using the former tool, Homestreet Bank also struggled with the management of data as well as the efficient use of data. Since adopting Oracle Hyperion Planning, Homestreet Bank has measureable improvements in their effectiveness and efficiency, and as Erik mentions, “Management really trusts what we give them now – not just one year out, but 2, three year forecasts”.