Case Studies
Case Study 1
Situation - Our client was:
- A rapidly growing highly profitable bio-tech company based in Silicon Valley
- In relatively early stages of growth, intent on achieving increased growth and profitability
- Financial budgeting and forecasting using Hyperion Pillar with the finance staff gathering excel spreadsheets from department managers and entering into the system
Challenges -The challenges facing us were:
- The current methodology and processes were not scalable to support rapid growth and enterprise level financial planning.
- Inconsistent and inaccurate reporting caused delays in business decisions.
- Finance staff spent time gathering and collating information rather than analyzing and providing business intelligence to the staff.
Solution - The actions we took to address these challenges were:
- BizSmart analyzed the clients business needs - current and future - and provided a detailed time bound plan to implement Hyperion Planning.
- Used checklists, templates and standardized meeting agendas to gather requirements and track the project
Results: - At the end of the project - in 5 months the client had
- Secure driver based, online budgeting and forecasting solution where the cost center managers were entering their budget
- Shorter planning cycles and more time for analysis.
- Global company level P&L and Balance sheet and Cash flows
- Standard analysis for Budget vs. Actual vs. Forecast was available online
- Detailed employee Workforce planning and a custom Capex model.
Case Study 2
Situation - Our client was:
- A large automobile Finance organization based in southern California.
- Financial budgeting and forecasting using Excel templates with the finance staff gathering excel spreadsheets from department managers and performing all the calculations and allocations in Excel spreadsheet.
Challenges -The challenges facing us were:
- The current methodology and processes were not scalable.
- Inconsistent and inaccurate reporting caused delays in business decisions.
- Finance staff spent time gathering and collating information. Unacceptable delay in completing the budget cycle.
Solution - The actions we took to address these challenges were:
- BizSmart analyzed the clients business needs - current and future - and provided a detailed time bound plan to implement Hyperion Planning.
- Used checklists, templates and standardized meeting agendas to gather requirements and track the project
Results: - At the end of the project - in 5 months the client had
- Secure, driver based, online budgeting and forecasting solution where the cost center managers were entering their budget.
- Multi-currency application.
- Complex Calculations and allocations ran on a click of a button.
- Shorter planning cycles and more time for analysis.
- Global company level P&L and Balance sheet. Reports were available for all users from single source.
- Standard analysis for Budget vs. Actual vs. Forecast was available online.