Business Objective

A leading American personal finance website that helps users make financial decisions by comparing products from banks and insurance providers wanted to modernize its financial reporting processes. Their existing system was slow, technical in nature, and lacked the ability to deliver real-time insights. The finance team needed a solution that could consolidate historical data, provide flexible reporting, and support in-depth analysis for planning and decision-making.

SourceMash Technologies Solution

SourceMash Technologies implemented Oracle Analytics Cloud (OAC) Data Lake Edition to streamline and automate financial reporting. The solution included:

• Development and deployment of Essbase Cube for advanced financial reporting.
• Configuration of Smart View in Excel to generate reports such as P&L, Balance Sheet, and Income Statement.
• Migration of up to seven years of historical data into OAC for trend analysis.
• Enablement of drill-down capabilities from General Ledger balances to journal transactions.
• Custom report development, testing, and user training for the finance team.
• Implementation of a security framework to ensure secure access to reports and data.

Business Outcome

With SourceMash Technologies’ implementation of Oracle Analytics Cloud, the client achieved:

• Faster financial close and reconciliations, reducing delays.
• Ability to slice and dice financial data for deeper insights.
• Improved data visualization empowering executives to make informed financial plans, cost analyses, and budgets.
• Increased efficiency as the finance team could focus on analysis instead of manual reporting tasks.
• Enhanced accuracy and compliance in financial reporting.