FICO was operating on multiple disparate enterprise systems which were not integrated with the organization’s financial tools. The lack of efficiency in and between systems resulted in excessive IT support costs to maintain each application, and with numerous customizations, IT spend was mounting. EPM applications were outdated, had significant data limitations, and the complexity was creating a resistance to change among current users.
FICO’s objective was to develop a 12-18-month roadmap for financial reporting with a focus on:
- Integration of financial data and improved data governance;
- Enhanced reporting and analytics capabilities;
- Best practices and solution alignment;
- Prioritized deployments;
FICO’s assessment and modernization of its financial management and analytics applications has significantly enhanced its operations and streamlined reporting."Patrick Callahan VP, EPM and Analytics, AST LLC
Solutions & Benefits
AST brought a proven assessment and roadmap approach that was structured to understand FICO’s current state and requirements. AST performed a Gap Analysis of Capabilities and developed a set of conclusions and recommendations to enable FICO to reach its business objectives.
AST’s knowledge of industry-leading solutions and its experience in data management was crucial to FICO realizing the following benefits:
- Oracle Profitability and Cost Management Cloud addressed significant challenges with allocations and supported expanded P&L need.
- Oracle Analytics was implemented with advanced reporting features, self-service data visualization, and enhanced ‘what if’ capabilities.
- Optimization and restructuring of product codes across systems supports product-level P&Ls and enables bundling of products/services.
- Oracle Analytics
- Oracle Enterprise Data Management
- Oracle Profitability and Cost Management Cloud
- Oracle E-Business Suite
- Oracle Business Intelligence
- Oracle BI Applications
- Oracle Enterprise Planning and Budgeting Cloud Service
AST’s thorough understanding of the industry and applications helped FICO build an integrated, automated,
and a seamless financial environment with greatly improved data governance and reporting capabilities.