Oracle Essbase Enables Company to Gain End-to-End View of Financial Data; Improve Manual Data Integration and Reporting Processes by 93 Percent.
- To better support the growing needs and financial requirements of its business, HR outsourcing services provider, TriNet, the country’s largest private provider of human resources outsourcing solutions to small businesses, has deployed Oracle® Essbase.
- Headquartered in San Leandro, Calif., TriNet enables small companies to strategically and cost-effectively outsource the complex management of human resources, employee benefits, payroll and other HR related services.
- As the company expanded through merger and acquisition, TriNet sought to improve its financial reporting processes and analyses, and gain a real-time view into financial performance.
- By deploying Oracle Essbase, the industry-leading online analytical processing (OLAP) server, the company was able to:
- Integrate key data across the enterprise;
- Improve financial process efficiency, transparency and visibility;
- Increase compliance; and,
- Establish an agile financial reporting foundation that can scale to support future company growth.
Building a Proven Practice Approach to Improve Financial Analysis and Reporting:
- To address all the data analysis needs of its internal stakeholders, TriNet created an internal Business Intelligence (BI) and Performance Management (PM) team that gathered individuals from IT and Finance business functions to ensure the successful implementation and ongoing use of BI and EPM technologies.
- Partnering with interRel, a Platinum level member of Oracle PartnerNetwork (OPN), the team implemented Oracle Essbase on time and under budget in just two months.
- Users were trained in a matter of weeks and are now able to produce their own custom reports – regardless of their prior knowledge of the system.
- With Oracle Essbase, TriNet has a common foundation to implement, manage and analyze financial and operational data from numerous internal systems, including Oracle’s PeopleSoft Enterprise, the Oracle E-Business Suite, a data warehouse using Oracle Database, Microsoft Access and third-party reporting tools, providing end-to-end visibility into key performance metrics across the enterprise.
- For example, Oracle Essbase has also allowed TriNet to run sophisticated product Profit and Loss (P&L) analysis to better view customer profitability and employee performance; a level of data collection and analysis that was not possible in the past.
- Oracle Essbase has given the team true agility to capture data and deliver analytics as business evolves. With sub week developments, Finance can rapidly get the business insight it needs.
- Along with the use of Oracle Interactive Reporting, Oracle Essbase has also enabled the company to improve financial data collection and reporting processes by an average of 93 percent, generating over 1200 hours of yearly time saving by enhancing the productivity of its internal financial staff while also providing better visibility into critical financial performance data.
- Oracle Essbase is a component of the Oracle Business Intelligence Foundation Suite, a complete, open, and integrated enterprise BI solution that features reporting, ad hoc queries, OLAP, dashboards and scorecards.
- “TriNet is committed to deploying the latest technologies both internally and externally to improve processes and enhance our client experience,” said Burton M. Goldfield, President and CEO at TriNet.
- “Oracle Essbase is the gold standard in finance and analysis and provides a lean, easy to use solution. With Essbase, TriNet has been able to integrate data that had never been together before – providing a new level of visibility into our financial performance from which we can make informed business decisions,” said Rob Taylor, Vice President FP&A, TriNet.
- “We know we have a solution we can rely on to integrate any data and rapidly deliver the analytics business is craving for. The Center of Excellence structure type that our CEO put together has been a clear success factor for the deployment of our BI and EPM and Essbase was our cornerstone,” said Gauthier Vasseur, Vice President, BI-PM, TriNet.