Business Objective

A leading global clothing and accessories retailer operating across multiple regions required a modern solution to streamline its financial consolidation and close cycle. The company’s on-premises Oracle HFM application faced frequent data load delays, redundant rule execution, and inconsistent calculations that slowed down consolidation. The organization needed a cloud-based platform to minimize delays, eliminate unnecessary calculations, and establish standardized financial practices aligned with industry benchmarks.

SourceMash Technologies Solution

SourceMash Technologies implemented Oracle EPM Cloud to modernize the client’s financial close and consolidation process. The solution included:

• Migration from legacy HFM and DRM systems to Oracle EPM and EDM Cloud for seamless master data management.
• Utilization of FCCS out-of-the-box calculations to remove redundant rules and accelerate consolidation.
• Standardization of financial consolidation practices by applying global industry best practices.
• Consistent alignment of currency translation adjustment (CTA) calculations with industry standards.
• Workshops and structured implementation approach to ensure smooth adoption with minimal disruption.
• Scalable design enables faster, repeatable, and reliable consolidation cycles for future business growth.

Business Outcome

• Consolidation cycle time reduced from ~4 hours to just 1.5 hours, including data load, consolidation, and reporting.
• Elimination of redundant calculations, improving efficiency and accuracy.
• Consistent and reliable consolidation calculations aligned with industry best practices.
• Faster close cycles, providing timely insights for decision-making.
• Standardized financial processes across regions, ensuring greater transparency and compliance.
• A cloud-ready, scalable Oracle EPM platform supporting agility and sustainable growth.