Intervening to improve a leading healthcare company's finance function

Picture this...

You’re a leading integrated health system but your finance function processes are not built to scale. You're dealing with decentralized reporting, a manual budgeting cycle that takes 8 months to complete, and inconsistent data and reporting that requires 70K reconciliations.

You turn to Accordion.

We take a phased approach to build a foundation for enterprise performance management, proving out key models and processes in advance of ERP modernization, laying the groundwork for long-term digital finance transformation:

• Phase 1: Establishing financial integrity before ERP go-live
  Before Oracle Fusion ERP is fully implemented, we deploy Oracle Financial Consolidation and Close (FCC) and an ASO Reporting Cube to validate the enterprise chart of accounts and reporting structure. This also serves as a proving ground for the COA design which de-risks the downstream ERP implementation, accelerates adoption, and ensures alignment across systems—ultimately smoothing the ERP go-live and reducing rework.
• Phase 2: Streamlining budgeting and planning
  We replace a highly manual, eight-month budgeting cycle driven by Excel with a modernized, Oracle Planning Cloud solution—including robust models for revenue, operating expenses, and workforce planning.  Driver-based modeling and automated data integration become key enablers for improved agility.
• Phase 3: Centralizing metadata with enterprise data management
  We introduce Enterprise Data Management (EDM) to create a centralized metadata governance solution across Oracle Fusion ERP, FCC, Planning, and the reporting cube.
• Phase 4: Modernizing account reconciliation
  We implement Oracle Account Reconciliation (AR) to centralize and automate your reconciliation process. Reconciliation efforts had lacked traceability and efficiency, resulting in a high volume (~70K) of manual reconciliations. We introduce automated rules for low-risk items and enabled real-time visibility into reconciliation status.

Your value is enhanced.

You modernize your finance function and ERP for the needs of your rapidly growing business. You see results from every stage of the work including: 

• Phase 1: Centralized reporting, Visibility into inter-company eliminations, and automating complex ownership calculations.
• Phase 2: 50% reduction in budgeting cycle time and drastically improved collaboration—reducing the number of planners from 1,100 to just 50 without sacrificing accuracy or engagement.
• Phase 3: Consistent, enterprise-wide data definitions, streamlined process for change management, and enabled faster deployment of future enhancements.
• Phase 4: Reduced the number of reconciliations required each period from 70,000 to 800 and streamlined the monthly close.