Our client is a corporation of 69 car dealerships across Canada utilizing Cloudworks EPM Implementation services to achieve financial consolidation standardization, data accessibility and application stability in the face of rapid organizational growth.
Our client is a North American multi-location automobile dealership group currently operating 69 franchised dealerships, selling several brands in Canada, and a group located in Illinois. The group was going through a period of extensive organizational growth, causing challenges within their legacy EPM systems.
They had experienced strong growth in its business over several years, including many acquisitions, resulting in challenges for its financial consolidation tool in the areas of performance, data accessibility and application stability due to the increased organization size. Their financial reporting stakeholder team sought out a solution that would improve the pain points seen in their current solutions. The company was operating a file-based system that was very slow, had difficulties to get data in and out, as well as having other business units using different software. The scale of its operations evolving beyond what Excel-based budgeting solutions can offer.
Leveraging the integrated Oracle Cloud EPM suite, Cloudworks was able to offer a unified system spanning the company’s financial close, reconciliation and budgeting processes into one. Simultaneously, the suite addressed the performance issues and provided more robust solutions that can scale with AutoCanada’s long term growth.
Strong company growth caused challenges with application performance, stability data accessibility
Using a legacy file-based system which was slow and not standardized
Different software being used across the company
Operational scale outpaced an Excel based budgeting solution
The company selected Oracle's EPM suite of tools to enhance the capabilities of their financial close process and partnered with Cloudworks to support them in implementing the solution
Leveraging multiple applications within the EPM product suite, Cloudworks designed and configured a scalable, integrated solution enabling their team to execute their consolidation, close and reporting processes combining data for over 100 different entities in a decentralized ERP/chart of account environment
ERP went live August 2019, and FCCS, ARCS and EPBCS going live later in 2019:
Solution continues to enable decentralized, store level ownership of chart of accounts with improved visibility to new accounts created at the store level
Enhanced reporting and analysis capabilities, fully integrated in Excel leveraging Microsoft Office Excel interface
Transition to digital account reconciliation binders for review and audit purposes, improved transparency and retention of reconciled/reported financial balances
Increased availability of store level data through standardized, automated integrations offering more frequent, up to date reporting and dashboard visuals of financial results as they take shape between close cycles
Transition into enterprise-level planning and budgeting suite with strategic modelling and comprehensive reporting capabilities.
Rapid adoption of EPM suite of tools is a success story of how Cloudworks can conveniently identify client’s gaps and align them to greater value add solutions
Client Success Stories
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