Empresas Publicas de Medellín, E.S.P. Improves Annual Financial Projection Procedures
Empresas Publicas de Medellin wanted to standardize financial information to facilitate the creation and consolidation of financial projections for all of the organization's public enterprises and create a historical record of basic financial statements to develop a comparative model and facilitate the generation of 10-year financial projections. The challenge was to reduce manual reprocessing of financial information to cut the time required to gather, process, and consolidate financial information and create consolidated financial reports to improve the organization's operational efficiency. Empresas Publicas de Medellin implemented Oracle's Hyperion Strategic Finance to provide standardized financial data and extend visibility of up-to-date information throughout the organization and consolidated financial information, accelerating the time required to collect data for annual financial projections by 70%.