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Case Study

Budgeting, Forecasting and Reporting Using Oracle Financial: A Major Credit Card Company

The Client

MasterCard cards are the world's most widely used form of "plastic" payment. As of December 2003, more than $2.8 trillion in products and services were purchased using Master Cards, and Master Card’s worldwide market share, at 60 percent, was greater than that of all other major payment cards combined.

There are more than 1 billion Master Cards in the market today. Master Cards are accepted at more than 21 million locations in 300 countries and territories, making Master Card the closest thing there is to a universal currency.

The Business Case

Master Card had multiple budget, forecasting, reporting and financial modeling processes and applications throughout the organization. The lack of a single consistent process and technology platform resulted in a sub optimal, time consuming budget and forecasting process that often resulted in inconsistent results.
Specific Objectives of the Project were to:

  1. To facilitate the development of a single consistent business process for budgeting and forecasting.

  2. Create a roadmap and implementation plan for the new process.

  3. Develop test and implement the technologies and systems to support the new optimized budget and forecasting process.

Why Wability?

Master Card selected Wability because of Wability’s expertise and knowledge of the financial services industry along with Wability’s proven track record of executing projects that involve difficult and changing business processes in large complex organizations. Wability provided Master Card with experienced senior-level consultants with a proven track record of delivering quality and timely solutions.

Wability’s Solution

Wability solution was centered on providing integrated financial information from Oracle Financials ERP modules such as General Ledger, Accounts Payable and Accounts Receivable and other sources. The financial information was cleaned and scrubbed to ensure a consistent set of data. This consistent financial data set formed the basis for the budgeting forecasting and reporting systems. Oracle Financial Analyzer and Oracle Express were implemented along with a set of standardized reports and queries. The entire system was made available to all department managers over the web.

The Business Benefit

  1. Integrated, accurate and consistent view of the creation, consumption and flow of financial information within the organization.

  2. Process improvements resulting in business processes with better accuracy, quality and timeliness.

  3. Improved understanding and communication throughout the budgeting and forecasting process.

  4. A streamlined and more accurate financial forecasting process and system that can adapt to changing business needs.