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As a leader in our field, our finance team plays an indispensable role. They not only help us weather unforeseen challenges but also identify growth opportunities, optimize costs, and steer the business towards prosperity. Over two decades, they have been pivotal in driving revenue expansion, enhancing operational efficiency, and guiding strategic decisions.
In this Oracle Playbook for Financial Excellence, we share their winning strategies on people, processes, systems, and how they align to achieve more with less.
People: Fostering a team of skilled finance professionals who leverage their expertise and cutting-edge technology to optimize performance.
Processes: Implementing streamlined workflows that enhance productivity without sacrificing accuracy or quality.
Systems: Adopting best-in-class software solutions to automate routine tasks, enabling staff to focus on strategic analysis.
Our finance team has made notable strides towards operational excellence:
Closing Time: Reduced from weeks to just 10 workdays for fiscal reporting and earnings release preparation.
Manual Work: Cut down the reliance on manual accounting by over 60 through automation.
Planning Speed: Accelerated financial planning cycles by up to 30 without sacrificing rigor or depth.
Efficiency Boosts: Saved over 80,000 hours annually with automated forecasting and budgeting processes.
Procurement Automation: Automated more than 70 of purchase orders, transforming the procurement process.
Order Processing: Increased automation in customer order processing to about 90 for smoother workflows.
Expense Management: Streamlined expense reporting through technology improvements across employees and managers, reducing manual tasks by over 24 hours per month.
Our transition to Oracle Cloud Applications and Infrastructure has been transformative:
From Reactive to Proactive: We've moved from reactive to proactive financial oversight, leveraging advanced automation for strategic business insights.
Cost-Efficiency without Sacrifice: Mntned high-quality service while cutting costs through efficient process design and technology adoption.
By following the people-process-systems framework outlined in this playbook, our finance team has been able to drive significant improvements across various financial operations. These outcomes can be replicated by businesses looking to streamline processes, reduce manual workloads, enhance efficiency, and focus on strategic decision-making.
Webinar: Dive deeper into specific strategies that have powered our success.
Trning Programs: Access courses designed to help you implement similar transformations within your organization.
Unlock the full potential of your finance team. Apply these proven strategies and watch as your business grows more efficiently, achieving more with less resource investment.
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