Memjet is the global leader in providing digital inkjet technology that enables unmatched simplicity, speed and profitability. Driven by a passion for innovation and a desire to change the printing industry, they focus on supplying OEM partners across the world with advanced printhead, module and ink technologies. Together with their OEM partners, they develop the fastest, highest resolution, most flexible digital print solutions for the widest range of market segments—at a remarkably affordable cost. The company maintains its corporate office in San Diego, California and has offices in Dublin, Sydney, Taipei, Singapore and Boise, Idaho.
The project was initiated by Memjet leadership to provide a centralized platform upon which annual budgets, forecasts, near-term and long-range financial plans can be developed and managed. The vision was to replace a decentralized spreadsheet approach which was cumbersome and prone to error. Memjet selected the Oracle EPM Cloud solution to streamline the planning process, free up bandwidth to focus on innovation, create meaningful insights, and accelerate the financial planning process.
"…A centralized approach to planning, budgeting, and forecasting has made our lives easier as well as provided more timely and accurate reports."
The overall design and implementation of Oracle EPM Planning Cloud (PBCS) allowed Memjet to address the issues that existed in the current Excel models and processes. The project began with a discovery phase to understand the challenges faced by each of the business areas and legal entities to develop an "as-is" and "to-be" functional specification that ensured the solution delivered met Memjet's project objectives.
Creating an export of the needed data out of NetSuite was out of scope, but the data still had to be input into planning forms. Excel templates connected to Oracle EPM Cloud were created to handle the complexity and flexibility and streamline this process. Alternate account roll-ups were created for many of the working capital accounts, while input accounts were provided to load cash flow items along with beginning and ending balances to ensure balances roll correctly. When the process is completed the ending balances are copied into the pertinent balance sheet accounts.
Alternate period hierarchies were created to make the process seamless, with the actual data copied for analysis and then copied back into the main periods for reporting purposes. This was done in forms and made use of a business rule, eliminating the need to open up closed periods or change security on the version.
Forecasting data was needed at varying levels of detail, so the input levels were created where needed: at the product, project, account, or all three levels. We additionally categorized all the processes into four groups and created rulesets to manage the processing of the data. The actual data is summarized historically into the input accounts, providing necessary trending information for better forecasting. The submitted data was copied back to the relevant base-level members.
The accounts administration is simplified through a simple flowchart - a decision tree stating the type of account and its location in the process. The aim was to provide the data at the needed level and keep administration simple and easy.
We implemented the application using a "sprint-based" approach, releasing functionality iteratively. The delivery was split across 7 Sprints, each sprint including weekly ‘Show & Tells’ and an end of sprint conference room pilot.
This engagement leveraged Qubix's Q.vate™ Methodology to achieve the finance transformation objectives - a best practice approach that combines our deep industry and technical expertise to design, implement and automate FP&A processes in the cloud.
Why did Memjet choose Qubix?
" The Qubix team is very knowledgeable and patient. We feel that we have the right partner to help us on our journey. "
Vice President of Financial Planning & Analysis
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