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Company Overview
This financial services holding company, headquartered in Dallas, Texas, operates through a diversified business model, providing a wide range of financial products and services. It has a significant presence in Texas and extends its reach nationwide through its various subsidiaries.
The primary subsidiary is a Texas-based bank that offers comprehensive business and consumer banking services. This bank is a cornerstone of the holding company’s operations, providing essential financial services to individuals and businesses across the state. It operates numerous branches throughout Texas, ensuring accessibility and convenience for its customers.
Another key subsidiary is a national home lender that focuses on empowering homeownership. This subsidiary provides mortgage lending services across the United States, helping individuals and families achieve their dreams of owning a home. It is known for its customer-centric approach and a wide array of mortgage products tailored to meet diverse needs.
Challenge
With various disparate business units including banking, mortgage, and securities, the client needed a solution to provide consolidated monthly financials for the monthly, annual, and long-range planning process. Each month, numerous hours were put into manual reporting and forecasting.
Solution
Oracle Cloud EPM Planning was implemented to provide FP&A with a variety of reporting, budgeting, and forecasting needs. Initially, consolidated management reporting was the priority, followed by high-level monthly forecast, current year planning, and five-year planning.
Result
Upon deployment, the client's reporting became largely automated, dramatically reducing the time required to product monthly packages. Additionally, common driver methodologies were developed for the organization to use for forecast, budget, and long-range plan consistently across different time horizons.
