PCCW Limited is a Hong Kong-based company which holds interests in telecommunications, media, IT solutions, property development and investment, and other businesses. The Company holds a majority interest in HKT, Hong Kong’s premier telecommunications service provider. PCCW also owns a fully integrated multimedia and entertainment group in Hong Kong, which includes a highly successful IPTV operation, Now TV. Also wholly-owned by the Group, PCCW Solutions is a leading information technology outsourcing and business process outsourcing provider in Hong Kong and mainland China. In addition, PCCW holds a majority interest in Pacific Century Premium Developments Limited, and overseas investments including the wholly-owned UK Broadband Limited.
The Finance department of PCCW Limited had been using the Oracle Financial Analyzer (OFA) since 2000.
As the OFA was phasing out, there was no further product enhancement and its support was ceased. OFA’s functions and slow performance can no longer satisfy the department’s growing operational needs over the years.
To be effective, the Finance team needed reliable, up-to-date financial and operational data for planning purposes as well as budgeting, forecasting, analysis and reporting, so they looked for new solutions which can fulfill their requirements.
PCCW Limited selected the Oracle Hyperion Exalytics, Oracle Essbase, as well as Oracle Hyperion Budgeting and Planning to replace OFA. Serving as the internal IT team of PCCW Limited, PCCW Solutions worked closely with the end users and Oracle consultants, to implement the solutions.
Oracle Hyperion Exalytics offers enhanced performance on financial reporting, budgeting and planning. The easy-to-use new solution can handle more than 200 reporting users and budgeting input. Oracle Essbase, the online analytical processing (OLAP) server, provides a rich environment for effectively developing custom analytic and enterprise performance management applications. By leveraging its self-managed, rapid application development capabilities, business users can quickly model complex business scenarios.
Oracle Hyperion Budgeting and Planning is a centralized budgeting and forecasting solution that integrates financial and operational planning processes and improves business predictability.
The overall efficiency has significantly enhanced after the new solution deployment. The single and central repository allows the Finance team to perform budgeting, forecast, reporting and variance analysis, which improve data control and traceability. The team can easily integrate data from different sources with reduced time and effort, providing timely and in-context information for decision making.
The rich pre-built planning functionalities, such as top down and bottom up planning alignment, currency conversion, data validation and audit trail, help facilitate and streamline planning preparation, reduce error and turnaround time. With the capability of approval workflow process management, the team now has improved visibility and better control of approval status and task progress.
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